Rumoured Pension Plan Overhaul
On Sunday 1 April 2001, the Ottawa Citizen reported that the government is planning to review the Superannuation Act along with its review of the terms and condition of employment in the Public Service.
Such a periodic review of the plan is normal. It would appear that this review would be in conjunction with a significant review of all terms and conditions of employment in the Public Service. The latest round of amendments to the plan were implemented with Bills C-71 and C-78 in 1999 and C-21 in 2000.
The Executive Director of FSNA is the pensioners’ representative on the Public Service Pension Advisory Committee and represents all Public Service pensioners. This Committee reviews all proposed changes to the Public Service Superannuation Act, and makes recommendations to the Minister. FSNA, through the pensioner’s representative and directly to the Minister, has asked that several benefit improvements be implemented.
As is normally the case, we expect that any changes to the Superannuation Plan will not reduce benefits in any way for current pensioners nor will they reduce the accrued benefits of current employees.
It is unclear at this time to what extent, if any, changes to the Canadian Forces or RCMP superannuation acts, or to the Judges Act will follow from changes to the Public Service Superannuation Act.
