1997 Legislative Session: 2nd Session, 36th Parliament
FIRST READING


The following electronic version is for informational purposes only.
The printed version remains the official version.


HONOURABLE ANDREW PETTER
MINISTER OF FINANCE AND
CORPORATE RELATIONS AND
MINISTER RESPONSIBLE FOR
INTERGOVERNMENTAL RELATIONS

BILL 18 -- 1997

PENSION STATUTES AMENDMENT ACT, 1997

HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of British Columbia, enacts as follows:

Pension (College) Act

1 Section 1 (1) of the Pension (College) Act, R.S.B.C. 1996, c. 353, is amended

(a) by repealing the definitions of "approved employer" and "reciprocal employer", and

(b) in paragraph (a) of the definition of "employer" by striking out "board or commission" and substituting "board, commission or publicly funded educational institution".

2 Section 2 is amended

(a) in subsection (1) (b) by striking out "board or commission" and substituting "board, commission or publicly funded educational institution", and

(b) by adding the following subsection:

(3) A designation under subsection (1) (b) in relation to a publicly funded educational institution may be made retroactive to a date on or after July 14, 1995 and, if made retroactive, is deemed to have come into force on the date specified.

3 Section 4 (1) (a) (ii) and (2) (a) (ii) is amended by striking out "board or commission" and substituting "board, commission or publicly funded educational institution".

4 Section 7 is amended

(a) in subsection (1) by striking out "section 24 (2)" and substituting "section 24 (1) (c)", and

(b) in subsection (6) by striking out ", including service rendered by the employee in the service of all reciprocal employers".

5 Section 13 is repealed.

6 The following section is added:

Special retirement incentive plan

14.1 (1) The employer may, by resolution, request that the commissioner waive or alter the percentage reduction provided for in section 14 (3) (a), (4) or (5) and the commissioner, after having first consulted with the board and subject to subsection (2), may make the waiver or alteration.

(2) The commissioner must, on request for a waiver or alteration under subsection (1), determine all of the following:

(a) the additional cost to the fund that results from the payment of a pension to an employee by the application of subsection (1);

(b) the amount and the time at which additional payments must be made to the fund by the employer;

(c) the class of employees to whom subsection (1) applies;

(d) the period of time during which subsection (1) applies;

(e) the conditions under which the percentage reduction is waived or altered.

7 Section 15 is amended by adding the following subsection:

(1.1) The temporary life annuity referred to in subsection (1) (d) must be adjusted on an actuarially equivalent basis instead of the lifetime pension otherwise payable.

8 The following section is added:

Phased retirement plan

22.1 (1) The commissioner may, after having first consulted with the board, establish a phased retirement plan for employees 55 years of age or older who are eligible to receive an immediate pension and under which, if an employer and employee agree that the employee will reduce his or her hours of work, the employee will receive payments from the fund in accordance with terms and conditions specified by the commissioner.

(2) Without limiting subsection (1), the commissioner may specify

(a) the manner in which the final pension on full retirement must be calculated to take into account payments from the fund under the phased retirement plan,

(b) the conditions under which payments may be made from the fund and the amount of those payments, and

(c) the date and frequency of payments.

9 Section 24 is amended

(a) by repealing subsection (2),

(b) in subsection (6) (a) by striking out "or from a reciprocal employer", and

(c) in subsection (8) by striking out "or (2)".

10 Section 25 is amended

(a) in subsection (3) by striking out "section 9 (1) (b), 10 or 13 is limited by section 11 or 13 (6)," and substituting "section 9 (1) (b) or 10 is limited by section 11,", and

(b) in subsection (4) by striking out "section 11 or 13 (6)," and substituting "section 11,".

11 Section 26 (1) is amended by striking out "section 9 (1) (b), 10 or 13 is limited by section 11 or 13 (6)," and substituting "section 9 (1) (b) or 10 is limited by section 11,".

12 Section 30 is amended by striking out ", or from a reciprocal employer,".

13 Section 53 (b) is amended by striking out ", or with a reciprocal employer,".

 
Pension (Municipal) Act

14 Section 1 (1) of the Pension (Municipal) Act, R.S.B.C. 1996, c. 355, is amended

(a) by repealing the definitions of "approved employer" and "reciprocal employer", and

(b) in the definition of "employer" by striking out "board or commission" and substituting "board, commission or publicly funded educational institution".

15 Section 2 is amended

(a) in subsection (1) by adding the following paragraph:

(a.1) a regional health board and a community health council established under the Health Authorities Act and a community health services society incorporated under the Society Act, to which this Act is declared to be applicable by order of the board, on receipt of a resolution passed by an affirmative vote of not less than 2/3 of all the members of the governing authority of the regional health board, community health council or community health services society, but only in respect of those employees

(i) who were employed by an employer, otherwise designated under this Act or another public sector pension Act, that amalgamates with a regional health board, community health council or community health services society,

(ii) who were employed by an employer, not otherwise designated under this Act or another public sector pension Act, that amalgamates with a regional health board, community health council or community health services society and who are

(A) employed in a job function that is integrated with the job function of an employee described in subparagraph (i), or

(B) brought within the scope of this Act by order of the board on receipt of a resolution from the governing authority of the regional health board, community health council or community health services society, or

(iii) who, despite subsection (3) (b), are new employees in a class of employees described in subparagraph (i) or (ii) of this paragraph; ,

(b) by adding the following subsection:

(1.1) Subsection (1) (a.1) does not apply to employees to whom the Pension (Public Service) Act applies. ,

(c) in subsection (2) (i) by striking out "commission or authority" and substituting "commission, authority or publicly funded educational institution", and

(d) by adding the following subsection:

(2.1) An order under subsection (2) (i) in relation to a publicly funded educational institution may be made retroactive to a date on or after July 14, 1995 and, if made retroactive, is deemed to have come into force on the date specified in the order.

16 Section 7 (2) is amended by striking out ", including service rendered by the employee in the service of all reciprocal employers".

17 Section 12 is amended

(a) in subsection (1) (b) by striking out "not exceeding 1/2 of the cost" and substituting "not exceeding the cost", and

(b) by repealing subsection (7).

18 Section 13 is amended

(a) by repealing subsection (5), and

(b) in subsection (6) by striking out "or through having service taken into account under section 12 (7)".

19 The following section is added:

Special retirement incentive plan

13.1 (1) The employer may, by resolution, request that the commissioner waive or alter the combined age plus years of contributory service or the percentage reduction, or both, provided for in section 13 (1), (2) (b) or (3) (c) or (d) or section 17 (10), and the commissioner, after having first consulted with the board and subject to subsection (2), may make the waiver or alteration.

(2) The commissioner must, on request for a waiver or alteration under subsection (1), determine all of the following:

(a) the additional cost to the fund that results from the payment of a pension to an employee by the application of subsection (1);

(b) the amount and the time at which additional payments must be made to the fund by the employer;

(c) the class of employees to whom subsection (1) applies;

(d) the period of time during which subsection (1) applies;

(e) the conditions under which the combined age plus years of contributory service or percentage reduction, or both, is waived or altered.

20 Section 15 is repealed.

21 Section 17 is amended by adding the following subsection:

(1.1) The temporary life annuity referred to in subsection (1) (d) must be adjusted on an actuarially equivalent basis instead of the lifetime pension otherwise payable.

22 Section 27 is amended

(a) by repealing subsection (2),

(b) in subsection (3) by striking out "subsection (1) or (2)," and substituting "subsection (1),",

(c) in subsection (6) (a) by striking out "or a pension from a reciprocal employer", and

(d) in subsection (8) by striking out "or (2)".

23 Section 28 (2) is amended by striking out "or 15".

24 Section 29 (2) is repealed.

25 Section 33 is amended by striking out "or from a reciprocal employer".

26 Section 56 (b) is amended by striking out ", or with a reciprocal employer,".

 
Pension (Public Service) Act

27 Section 1 (1) of the Pension (Public Service) Act, R.S.B.C. 1996, c. 356, is amended by repealing the definitions of "approved employer" and "reciprocal employer".

28 Section 2 is amended

(a) in subsection (1) by adding the following paragraph:

(p) a regional health board and a community health council established under the Health Authorities Act and a community health services society incorporated under the Society Act, in respect only of those employees to whom subsection (5) applies. ,

(b) by adding the following subsection:

(3.1) An employee exempt under subsection (3) may not

(a) make contributions under this Act if making contributions to some other pension fund, or

(b) purchase service under this Act in respect of the period of temporary absence. , and

(c) by adding the following subsection:

(5) If an employee to whom this Act applies is transferred to the employment of a regional health board, community health council or community health services society, this Act continues to apply to the employee despite the transfer unless the employee elects to have the Pension (Municipal) Act apply in which case that Act applies to the employee.

29 Section 9 (9) is amended by striking out ", including service rendered by the employee in the service of all reciprocal employers".

30 Section 11 is amended by adding the following subsection:

(4.1) An employee referred to in subsection (4) may not

(a) make contributions to some other pension fund if making contributions under this Act, or

(b) purchase service under some other Act in respect of service for which contributions have been made under this Act.

31 Section 14 (1) is amended by striking out "sections 34 (3) and 65 (4) to (6)" and substituting "section 65 (4) to (6)".

32 The following section is added:

Special retirement incentive plan

15.1 (1) The employer may, by resolution, request that the commissioner waive or alter the combined age plus years of contributory service or the percentage reduction, or both, provided for in section 15 (1), (5), (6), (7) or (8) or section 19 (2), and the commissioner, after having first consulted with the board and subject to subsection (2), may make the waiver or alteration.

(2) The commissioner must, on request for a waiver or alteration under subsection (1), determine all of the following:

(a) the additional cost to the fund that results from the payment of a pension to an employee by the application of subsection (1);

(b) the amount and the time at which additional payments must be made to the fund by the employer;

(c) the class of employees to whom subsection (1) applies;

(d) the period of time during which subsection (1) applies;

(e) the conditions under which the combined age plus years of contributory service or percentage reduction, or both, is waived or altered.

(3) If the employer is a ministry of the government, a waiver or alteration made under subsection (1) is not valid without the approval of the Treasury Board.

33 Section 16 is repealed.

34 Section 18 is amended by adding the following subsection:

(1.1) The temporary life annuity referred to in subsection (1) (d) must be adjusted on an actuarially equivalent basis instead of the lifetime pension otherwise payable.

35 Section 18 (10) is amended by striking out "section 19 (1) or by having service taken into account under section 34 (1)," and substituting "section 19 (1),".

36 Section 19 (1) (c) is amended by striking out "in respect of pensionable service on and after January 1, 1996 if" and substituting "if, effective January 1, 1996,".

37 Section 19 (2) is repealed and the following is substituted:

(2) A contributor entitled to a deferred pension may apply to receive the pension on or after reaching an age that is not more than 5 years less than pensionable age, but the 2% referred to in section 22 (1) must be reduced by 5% of that amount for the lesser of

(a) each year of age the contributor is under pensionable age, and

(b) each year the sum of the contributor's age plus contributory service is less than 90 years minus the number of years that the maximum retirement age for that employee is less than 65,

and the reduction must be prorated for fractions of a year.

(2.1) If an employee retires from service on or after January 1, 1996 and while making contributions

(a) has reached an age that is within 15 years of the maximum retirement age, and

(b) meets the service requirements specified by the board,

the 5% referred to in subsection (2) must be 3%.

38 Section 19 (5) and (6) is repealed.

39 Section 20 is repealed.

40 Section 21 (7) is amended by striking out "under that section," and substituting "under the regulations,".

41 Section 28 is amended

(a) by repealing subsection (2),

(b) in subsection (3) by striking out "subsection (1) or (2)," and substituting "subsection (1),",

(c) in subsection (6) (a) by striking out "or a pension from a reciprocal employer", and

(d) in subsection (8) by striking out "or (2)".

42 Section 34 is repealed.

43 Section 37 (1) (c) is amended by striking out "sections 34 to 36," and substituting "section 35 or 36,".

44 Section 41 (3) is amended by striking out "34 (3) or 65 (4) to (6)" and substituting "section 65 (4) to (6)".

45 Section 42 (2) is amended by striking out "34 (3) or 65 (4) to (6)" and substituting "section 65 (4) to (6)".

46 Section 46 is amended by striking out ", or from a reciprocal employer,".

47 Section 66 is amended by striking out ", or with a reciprocal employer,".

 
Pension (Teachers) Act

48 Section 1 (1) of the Pension (Teachers) Act, R.S.B.C. 1996, c. 357, is amended by repealing the definitions of "approved employer" and "reciprocal employer".

49 Section 2 is amended

(a) in subsection (1) by adding the following paragraph:

(i) the B.C. Principals' and Vice Principals' Association and the B.C. School Superintendents Association and those employees of them who are employed on a permanent basis and designated by the respective employer. , and

(b) by adding the following subsection:

(2.1) An employee exempt under subsection (2) may not

(a) make contributions under this Act if making contributions to some other pension fund, or

(b) purchase service under this Act in respect of the period of temporary absence.

50 Section 7 (4) is amended by striking out "service, including service rendered by the employee in the service of all reciprocal employers." and substituting "service."

51 Section 9 is amended by adding the following subsection:

(3.1) Recognition of service as pensionable service under subsection (3) is treated as a leave of absence and is subject to any limitations under the Income Tax Act (Canada).

52 Sections 12 (2) (b) and (c) and (8) and 13 (2) are repealed.

53 The following section is added:

Special retirement incentive plan

12.1 (1) The employer may, by resolution, request that the commissioner waive or alter the combined age plus years of contributory service or the percentage reduction, or both, provided for in section 12 (1), (2) or (3) or section 23 (2), and the commissioner, after having first consulted with the board and subject to subsection (2), may make the waiver or alteration.

(2) The commissioner must, on request for a waiver or alteration under subsection (1), determine all of the following:

(a) the additional cost to the fund that results from the payment of a pension to an employee by the application of subsection (1);

(b) the amount and the time at which additional payments must be made to the fund by the employer;

(c) the class of employees to whom subsection (1) applies;

(d) the period of time during which subsection (1) applies;

(e) the conditions under which the combined age plus years of contributory service or percentage reduction, or both, is waived or altered.

54 Section 14 is repealed.

55 Section 16 is amended

(a) by adding the following subsection:

(1.1) The temporary life annuity referred to in subsection (1) (d) must be adjusted on an actuarially equivalent basis instead of the lifetime pension otherwise payable. , and

(b) in subsection (2) by striking out "under section (1)." and substituting "under subsection (1)."

56 Section 21 (2) (b) is amended by striking out "section 23 (3) (b)." and substituting "section 23 (3)."

57 Section 23 is amended

(a) by repealing subsection (3) and substituting the following:

(3) Instead of a deferred pension and subject to the terms and conditions set out in subsection (4), a contributor may elect to receive a payment in the amount of the commuted value of the deferred pension. , and

(b) in subsection (4) by striking out "or payments".

58 Section 25 is amended

(a) by repealing subsection (2),

(b) in subsection (6) (a) by striking out "or a pension from a reciprocal employer", and

(c) in subsection (8) by striking out "or (2)".

59 Section 26 is amended

(a) by repealing subsection (3), and

(b) in subsection (4) by striking out "section 7 (2), 11 or 14 (6)," and substituting "section 7 (2) or 11,".

60 Section 27 (1) is repealed.

61 Section 31 is amended by striking out "or from a reciprocal employer".

62 Section 54 (b) is amended by striking out ", or with a reciprocal employer,".

Commencement

63 (1) Sections 1 (a), 4 (b), 5, 7, 9 to 12, 13, 14 (a), 16 to 18, 20 to 27, 28 (b), 29 to 31, 33 to 35, 38, 39, 41 to 48, 49 (b), 50 to 52, 54, 55 (a) and 58 to 62 come into force by regulation of the Lieutenant Governor in Council.

(2) Sections 1 (b), 2, 3, 14 (b) and 15 (c) and (d) are deemed to have come into force on July 14, 1995 and are retroactive to the extent necessary to give them effect on and after that date.

(3) Sections 6, 8, 19, 32 and 53 are deemed to have come into force on October 1, 1996 and are retroactive to the extent necessary to give them effect on and after that date.

(4) Sections 15 (a) and (b), 28 (a) and (c), 36, 37, 56 and 57 are deemed to have come into force on January 1, 1996 and are retroactive to the extent necessary to give them effect on and after that date.

Explanatory Notes

[This Bill amends the Revised Statutes of British Columbia, 1996. The Revised Statutes of British Columbia, 1996 came into force on April 21, 1997.]

Pension (College) Act

SECTION 1: [Pension (College) Act, amends section 1 (1)]

(a) is consequential to Income Tax Act (Canada) requirements;

(b) is consequential to the amendment to section 2 of the Pension (College) Act.

SECTION 2: [Pension (College) Act, amends section 2]

(a) allows the Lieutenant Governor in Council to designate a publicly funded educational institution as an employer under the Pension (College) Act;

(b) allows the designation of a publicly funded educational institution under section 2 (1) (b) of the Pension (College) Act to be made retroactive.

SECTION 3: [Pension (College) Act, amends section 4] is consequential to the amendment to section 2 of the Pension (College) Act.

SECTION 4: [Pension (College) Act, amends section 7]

(a) corrects a cross-reference error;

(b) is consequential to Income Tax Act (Canada) requirements.

SECTION 5: [Pension (College) Act, repeals section 13] is consequential to Income Tax Act (Canada) requirements.

SECTION 6: [Pension (College) Act, enacts section 14.1] allows the superannuation commissioner, in consultation with the College Pension Advisory Board, to waive or alter the percentage reduction applicable to employees who take early retirement under the special retirement incentive plan, and to specify conditions that apply to the plan.

SECTION 7: [Pension (College) Act, adds section 15 (1.1)] is consequential to Income Tax Act (Canada) requirements.

SECTION 8: [Pension (College) Act, enacts section 22.1] allows the superannuation commissioner, in consultation with the College Pension Advisory Board, to establish a phased retirement plan for employees 55 years of age or older who have 10 years of pensionable service, and to specify conditions that apply to the plan.

SECTION 9: [Pension (College) Act, amends section 24] is consequential to Income Tax Act (Canada) requirements.

SECTION 10: [Pension (College) Act, amends section 25] is consequential to the repeal of section 13 of the Pension (College) Act.

SECTION 11: [Pension (College) Act, amends section 26 (1)] is consequential to the repeal of section 13 of the Pension (College) Act.

SECTION 12: [Pension (College) Act, amends section 30] is consequential to Income Tax Act (Canada) requirements.

SECTION 13: [Pension (College) Act, amends section 53 (b)] is consequential to Income Tax Act (Canada) requirements.

 
Pension (Municipal) Act

SECTION 14: [Pension (Municipal) Act, amends section 1 (1)]

(a) is consequential to Income Tax Act (Canada) requirements;

(b) is consequential to the amendment to section 2 of the Pension (Municipal) Act.

SECTION 15: [Pension (Municipal) Act, amends section 2]

(a) adds regional health boards, community health councils and community health services societies as employers under the Pension (Municipal) Act and defers participation in the plan under the Pension (Municipal) Act for some employees who, on amalgamation, are not otherwise covered by a pension plan;

(b) clarifies the non-application of the Pension (Municipal) Act to those employees otherwise covered by the Pension (Public Service) Act;

(c) allows the Lieutenant Governor in Council to designate a publicly funded educational institution as an employer under the Pension (Municipal) Act;

(d) allows the designation of a publicly funded educational institution under section 2 (2) (i) of the Pension (Municipal) Act to be made retroactive.

SECTION 16: [Pension (Municipal) Act, amends section 7 (2)] is consequential to Income Tax Act (Canada) requirements.

SECTION 17: [Pension (Municipal) Act, amends section 12]

(a) requires the employee to pay both the employer and employee portion of the cost to purchase additional service;

(b) is consequential to Income Tax Act (Canada) requirements.

SECTION 18: [Pension (Municipal) Act, amends section 13]

(a) is consequential to Income Tax Act (Canada) requirements;

(b) is consequential to the repeal of section 12 (7) of the Pension (Municipal) Act.

SECTION 19: [Pension (Municipal) Act, enacts section 13.1] allows the commissioner of municipal superannuation, in consultation with the Municipal Pension Board, to waive or alter the rule of 90 or the percentage reduction applicable to employees who take early retirement under the special retirement incentive plan, and to specify conditions that apply to the plan.

SECTION 20: [Pension (Municipal) Act, repeals section 15] is consequential to Income Tax Act (Canada) requirements.

SECTION 21: [Pension (Municipal) Act, adds section 17 (1.1)] is consequential to Income Tax Act (Canada) requirements.

SECTION 22: [Pension (Municipal) Act, amends section 27] is consequential to Income Tax Act (Canada) requirements.

SECTION 23: [Pension (Municipal) Act, amends section 28 (2)] is consequential to the repeal of section 15 of the Pension (Municipal) Act.

SECTION 24: [Pension (Municipal) Act, repeals section 29 (2)] is consequential to the repeal of section 15 of the Pension (Municipal) Act.

SECTION 25: [Pension (Municipal) Act, amends section 33] is consequential to Income Tax Act (Canada) requirements.

SECTION 26: [Pension (Municipal) Act, amends section 56 (b)] is consequential to Income Tax Act (Canada) requirements.

 
Pension (Public Service) Act

SECTION 27: [Pension (Public Service) Act, amends section 1 (1)] is consequential to Income Tax Act (Canada) requirements.

SECTION 28: [Pension (Public Service) Act, amends section 2]

(a) and (c) adds regional health boards, community health councils and community health services societies as employers under the Pension (Public Service) Act in respect of those employees currently covered under the Pension (Public Service) Act who elect to continue coverage under that Act;

(b) clarifies, for Income Tax Act (Canada) purposes, that an employee cannot receive dual recognition of service.

SECTION 29: [Pension (Public Service) Act, amends section 9 (9)] is consequential to Income Tax Act (Canada) requirements.

SECTION 30: [Pension (Public Service) Act, adds section 11 (4.1)] clarifies, for Income Tax Act (Canada) purposes, that an employee cannot receive dual recognition of service.

SECTION 31: [Pension (Public Service) Act, amends section 14 (1)] is consequential to the repeal of section 34 of the Pension (Public Service) Act.

SECTION 32: [Pension (Public Service) Act, enacts section 15.1] allows the superannuation commissioner, in consultation with the Public Service Pension Advisory Board, to waive or alter the rule of 90 (or 85) or the percentage reduction applicable to employees who take early retirement under the special retirement incentive plan, and to specify conditions that apply to the plan.

SECTION 33: [Pension (Public Service) Act, repeals section 16] is consequential to Income Tax Act (Canada) requirements.

SECTION 34: [Pension (Public Service) Act, adds section 18 (1.1)] is consequential to Income Tax Act (Canada) requirements.

SECTION 35: [Pension (Public Service) Act, amends section 18 (10)] is consequential to the repeal of section 34 of the Pension (Public Service) Act.

SECTION 36: [Pension (Public Service) Act, amends section 19 (1) (c)] corrects an error respecting 2 year vesting to recognize service whether before or after January 1, 1996.

SECTION 37: [Pension (Public Service) Act, repeals and replaces section 19 (2) and adds section 19 (2.1)]

SECTION 38: [Pension (Public Service) Act, repeals section 19 (5) and (6)] is consequential to Income Tax Act (Canada) requirements.

SECTION 39: [Pension (Public Service) Act, repeals section 20] repeals spent provisions.

SECTION 40: [Pension (Public Service) Act, amends section 21 (7)] corrects a cross- reference error.

SECTION 41: [Pension (Public Service) Act, amends section 28] is consequential to Income Tax Act (Canada) requirements.

SECTION 42: [Pension (Public Service) Act, repeals section 34] is consequential to Income Tax Act (Canada) requirements.

SECTION 43: [Pension (Public Service) Act, amends section 37 (1) (c)] is consequential to the repeal of section 34 of the Pension (Public Service) Act.

SECTION 44: [Pension (Public Service) Act, amends section 41 (3)] is consequential to the repeal of section 34 of the Pension (Public Service) Act.

SECTION 45: [Pension (Public Service) Act, amends section 42 (2)] is consequential to the repeal of section 34 of the Pension (Public Service) Act.

SECTION 46: [Pension (Public Service) Act, amends section 46] is consequential to Income Tax Act (Canada) requirements.

SECTION 47: [Pension (Public Service) Act, amends section 66] is consequential to Income Tax Act (Canada) requirements.

 
Pension (Teachers) Act

SECTION 48: [Pension (Teachers) Act, amends section 1 (1)] is consequential to Income Tax Act (Canada) requirements.

SECTION 49: [Pension (Teachers) Act, amends section 2]

(a) adds the B.C. Principals' and Vice Principals' Association as an employer under the Pension (Teachers) Act, and

(b) clarifies, for Income Tax Act (Canada) purposes, that an employee cannot receive dual recognition of service.

SECTION 50: [Pension (Teachers) Act, amends section 7 (4)] is consequential to the repeal of section 14 of the Pension (Teachers) Act.

SECTION 51: [Pension (Teachers) Act, adds section 9 (3.1)] is consequential to Income Tax Act (Canada) requirements.

SECTION 52: [Pension (Teachers) Act, repeals sections 12 (2) (b) and (c) and (8) and 13 (2)] is consequential to Income Tax Act (Canada) requirements.

SECTION 53: [Pension (Teachers) Act, enacts section 12.1] allows the commissioner of teachers' pensions, in consultation with the Teachers' Pension Board, to waive or alter the rule of 90 or the percentage reduction applicable to employees who take early retirement under the special retirement incentive plan, and to specify conditions that apply to the plan.

SECTION 54: [Pension (Teachers) Act, repeals section 14] is consequential to Income Tax Act (Canada) requirements.

SECTION 55: [Pension (Teachers) Act, amends section 16]

(a) is consequential to Income Tax Act (Canada) requirements;

(b) corrects a cross-reference error.

SECTION 56: [Pension (Teachers) Act, amends section 21 (2) (b)] is consequential to the repeal and replacement of section 23 (3) of the Pension (Teachers) Act.

SECTION 57: [Pension (Teachers) Act, amends section 23]

(a) and (b) makes a correction to ensure that a plan member with 2 years' service will be vested and locked-in with respect to all service.

SECTION 58: [Pension (Teachers) Act, amends section 25] is consequential to Income Tax Act (Canada) requirements.

SECTION 59: [Pension (Teachers) Act, amends section 26] is consequential to the repeal of section 14 of the Pension (Teachers) Act.

SECTION 60: [Pension (Teachers) Act, repeals section 27 (1)] is consequential to the repeal of section 14 of the Pension (Teachers) Act.

SECTION 61: [Pension (Teachers) Act, amends section 31] is consequential to Income Tax Act (Canada) requirements.

SECTION 62: [Pension (Teachers) Act, amends section 54 (b)] is consequential to Income Tax Act (Canada) requirements.


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