Regulatory Initiative: Regulations amending the Public Service Superannuation Regulations (PSSR) (Interest on overpaid amounts), Forward Regulatory Plan 2017-2019
Title or working title of the regulatory initiative
Regulations amending the Public Service Superannuation Regulations (PSSR) (Interest on overpaid amounts)
Description of the objective
Issue
Budget Implementation Act 2008 amended the Public Service Superannuation Act (PSSA), Canadian Forces Superannuation Act (CFSA), and Royal Canadian Mounted Police Superannuation Act (RCMPSA) to provide regulation-making authority for the payment of interest on overpaid amounts.
Description of the regulation
The regulations would seek to set the interest rate to be used when refunding overpayments by a contributor.
Enabling Act
Budget Implementation Act, 2008; Public Service Superannuation Act (PSSA)
Flag for business impacts
There are no expected business impacts.
Public consultation opportunities
Public consultations are not appropriate as this issue is internal to the administration of the specified pension plans, which are internal to government.
An interdepartmental working group comprised of working level representatives for the PSSA, CFSA, RCMPSA and PWGSC have the current objective of establishing a common interest rate for this purpose.
Departmental contact
Kimberley Gowing, Senior Director,
Pensions and Benefits Sector
613-952-3121
Kimberley.gowing@tbs-sct.gc.ca
For more information
- Government-Wide Forward Regulatory Plans
- Government-Wide Administrative Burden Baseline Counts
- The Cabinet Directive on Regulatory Management
- The Red Tape Reduction Action Plan
- The Canada–United States Regulatory Cooperation Council
To learn about upcoming or ongoing consultations on proposed federal regulations, visit the Canada Gazette and Consulting with Canadians websites.