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Waiver of the Annual Allowance Reduction under the PSSA
SPECIAL ADVICE TO CROWN CORPORATIONS: 1996-001
January 24, 1996
SUBJECT: |
Waiver of the Annual Allowance Reduction under the PSSA |
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1 |
PURPOSE |
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1.1 |
This Special Advice amends the Special Advice issued on November 14, 1995 which described further changes in the Treasury Board criteria scheduled to take effect from January 1, 1996. The effective date of these changes has now been extended to April 1, 1996. |
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2 |
POLICY |
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2.1 |
Special Advice to Crown Corporations dated July 26, 1995 outlined the new Treasury Board requirements for approval of a waiver in an Annual Allowance reduction. |
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2.2 |
In addition, where the employee terminates on or after April 1, 1996, a waiver will not be approved if the employee receives an involuntary departure benefit which is greater than the involuntary departure benefits available to employees for whom Treasury Board is the employer. |
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2.3 |
A pension reduction waiver can be approved where a Separate Employer had made a written agreement with an employee prior to January 1, 1996, and that agreement included the expectation of a pension reduction waiver on retirement after that date. |
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3 |
PROCEDURES |
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3.1 |
When the employee has met the requirements for a waiver in an annual allowance reduction, the "Certification of Waiver of Reduction of Annual Allowance" form PWGSC-TPSGC 2429 or 2429-1 must be signed and forwarded to the Superannuation Directorate along with the regular termination documents. |
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4 |
INQUIRIES |
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4.1 |
Any request for information regarding the foregoing should be addressed to your PWGSC Client Services Centre as per Compensation Directive 1994-039 dated October 6, 1994. |
Original Signed by
P. Charko |
P. Charko
Director General
Compensation Sector
Government Operational Service
Reference: CJA 9203-13 (1)(c)(ii)(C)
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