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1 |
PURPOSE
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1.1 |
The purpose of this advice is to provide Crown
Corporations and Territorial Governments not using the Regional Pay System
(RPS) with information regarding the retention of pension data for the calendar
year 2000. |
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1.2 |
In this text, the use of masculine is generic
and applies to both men and women.
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2 |
BACKGROUND
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2.1 |
Legislative changes which were effective in
September 1999, had a significant impact on the Public Service Superannuation
Act (PSSA). These changes resulted in the establishment of the Public Service
Pension Fund (PSPF) which is invested in the open markets. The investment
is to be managed by the newly created Pension Investment Board (PIB). |
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A review of the PSSA pension administrative
practices and financial controls was undertaken and the Financial Framework/Data
Integrity Project was instituted to implement the recommended changes. |
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In support of these changes, detailed data regarding
individual contributions, superannuable salary and service is to be collected
retroactively from January 2000. This requirement was previously communicated
in Subsection 4.4 (Annual Reporting) of Special
Advice to Crown Corporations 2000-001, dated July 7, 2000.
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3 |
PROCEDURES/INSTRUCTIONS
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3.1 |
The method of reporting the above data is currently
under review. Until the new method is finalized, we request that clients
retain the required data internally, from January 2000, for future transmission
to Public Works and Government Services Canada (PWGSC).
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4 |
INQUIRIES
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4.1 |
Any request for information regarding the foregoing
should be addressed to: |
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Marg Cook
Pension and Insurance Products Coordinator
Superannuation Directorate
Public Works and Government Services Canada
10 Weldon Street
Shediac, New Brunswick
E0A 3G0
Tel: (506) 533-5705 |
