The Public Employees Pension Plan Regulations, 2015
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1 PUBLIC EMPLOYEES PENSION PLAN, 2015 P-36.2 REG 2 The Public Employees Pension Plan Regulations, 2015 being Chapter P-36.2 Reg 2 (effective June 25, 2015) as amended by Saskatchewan Regulations 12/2016, 16/2018, 59/2018, 16/2020, 128/2020 and an Errata Notice published in the July 24, 2020 Gazette. NOTE: This consolidation is not official. Amendments have been incorporated for convenience of reference and the original statutes and regulations should be consulted for all purposes of interpretation and application of the law. In order to preserve the integrity of the original statutes and regulations, errors that may have appeared are reproduced in this consolidation. 2 PUBLIC EMPLOYEES P-36.2 REG 2 PENSION PLAN, 2015 Table of Contents 1 Title 10 Prescribed pension benefits 2 Interpretation 11 Variable benefits 3 Designation of participating employers and employees 12 Board-elected variable benefit 4 Application of The Superannuation (Supplementary 13 Specified participating employer and employees Provisions) Act 14 Beneficiaries 5 Voluntary contributions 15 Attachments 6 Contributions re leave of absence 16 R.R.S. c.P-36.2 Reg 1 repealed 7 Contributions re disability income plan benefits 17 Coming into force 8 Transfers to plan Appendix 9 Small benefits Table 1 Participating Employers and Employees Table 2 Participating Employers Table 3 3 PUBLIC EMPLOYEES PENSION PLAN, 2015 P-36.2 REG 2 CHAPTER P-36.2 REG 2 The Public Employees Pension Plan Act Title 1 These regulations may be cited as The Public Employees Pension Plan Regulations, 2015. Interpretation 2(1) In these regulations: “Act” means The Public Employees Pension Plan Act; “locked-in retirement account” means a locked-in retirement account contract as defined in section 29 of The Pension Benefits Regulations, 1993; “registered retirement savings plan” means a registered retirement savings plan as defined in section 146 of the Income Tax Act (Canada); “Table” means a Table set out in the Appendix; “year’s maximum pensionable earnings” means the Year’s Maximum Pensionable Earnings as defined in the Canada Pension Plan. (2) For the purposes of clause 2(l) of the Act, “bonus” does not include a lump sum payment that is payable by a participating employer to a member pursuant to a collective bargaining agreement that provides that the lump sum payment is not pensionable. (3) For the purposes of clause 13(2)(a) of the Act, “sickness or disability”, in relation to a member, means suffering from a physical or mental impairment that prevents the member from performing the duties of the employment in which the member was engaged before the commencement of the impairment. (4) For the purposes of the Act and in these regulations, “employee” includes: (a) a senior justice of the peace appointed pursuant to The Justices of the Peace Act, 1988; and (b) a justice of the peace appointed pursuant to The Justices of the Peace Act, 1988 who is not a court official; but does not include a justice of the peace appointed pursuant to The Justices of the Peace Act, 1988 who is a court official. 5 Jne 2015 cP-36.2 Reg 2 s2; 13 Mar 2020 SR 16/2020 s3. 4 PUBLIC EMPLOYEES P-36.2 REG 2 PENSION PLAN, 2015 Designation of participating employers and employees 3(1) For the purposes of subsection 10(1) of the Act: (a) the employers listed in column 2 of Table 1 are designated as participating employers; and (b) the employees or categories of employees listed in column 3 of Table 1 opposite a participating employer are designated as employees of that participating employer who are entitled to be members of the plan. (2) Subsection 10(4) of the Act does not apply to an employee who, at the time the employee becomes a member of the plan, is: (a) making contributions pursuant to a superannuation Act within the meaning of The Superannuation (Supplementary Provisions) Act; and (b) designated as an employee who is entitled to be a member of the plan pursuant to clause (c) or (d) in column 3 of item 4 of Table 1. 5 Jne 2015 cP-36.2 Reg 2 s3. Application of The Superannuation (Supplementary Provisions) Act 4 For the purposes of subsection 10(4) of the Act, section 47.5 of The Superannuation (Supplementary Provisions) Act applies to members of the plan. 5 Jne 2015 cP-36.2 Reg 2 s4. Voluntary contributions 5(1) If the amount standing to the credit of a member is vested pursuant to section 18 of the Act, the member may make voluntary contributions in any of the following ways: (a) by lump sum transfer from a registered retirement savings plan or from a locked-in retirement account; (b) by payroll deduction; (c) by transfer from a pension plan pursuant to section 15 of the Act. (2) If the amount standing to the credit of a member is not vested pursuant to section 18 of the Act, the member may apply to the board to make voluntary contributions in any manner that the board specifies. 5 Jne 2015 cP-36.2 Reg 2 s5. Contributions re leave of absence 6(1) A member described in subsection 14(1) of the Act may make contributions to the plan on returning to work after a leave of absence in any of the following ways: (a) by lump sum transfer from a registered retirement savings plan or from a locked-in retirement account; (b) by lump sum payment by personal cheque; (c) by payroll deduction for a period equal to the period of leave or for a period agreed on by the board. 5 PUBLIC EMPLOYEES PENSION PLAN, 2015 P-36.2 REG 2 (2) A lump sum transfer, a lump sum payment or the first payment by payroll deduction pursuant to subsection (1) must be made not later than 90 days after the member returns to work. 5 Jne 2015 cP-36.2 Reg 2 s6. Contributions re disability income plan benefits 7 A member described in subsection 14(2) of the Act shall remit the contributions required by that subsection to the board not later than the fifteenth day of the month that follows the month with respect to which the contributions are made. 5 Jne 2015 cP-36.2 Reg 2 s7. Transfers to plan 8(1) Any amount transferred to the plan pursuant to section 15 of the Act that is locked in immediately before the transfer remains locked in. (2) Any amount transferred to the plan pursuant to section 16 of the Act is locked in. 5 Jne 2015 cP-36.2 Reg 2 s8. Small benefits 9 The board may pay to a person entitled to a pension benefit an amount equal to the amount standing to the credit of a member if the amount standing to the credit of the member does not exceed the maximum amount determined pursuant to subsection 39(1) of The Pension Benefits Act, 1992. 5 Jne 2015 cP-36.2 Reg 2 s9. Prescribed pension benefits 10(1) Subject to subsection (2), for the purposes of clause 5(1)(g) of the Act, a variable benefit that meets the requirements of section 11 is a prescribed pension benefit that the board may provide. (2) For the purposes of clause 5(1)(g) and subsection 20(4.1) of the Act, a board-elected variable benefit that meets the requirements of sections 11 and 12 is a prescribed pension benefit that the board may provide. (3) For the purposes of clause 5(1)(g) of the Act, a non-resident pension benefit that meets the requirements of subsection (4) is a prescribed pension benefit that the board may provide. (4) A person who is entitled to a pension benefit under the plan may elect to receive a non-resident pension benefit that is a single amount equal to the amount standing to the credit of the person in the fund if that person: (a) has not commenced receiving a pension benefit; and (b) meets all of the requirements of section 26.1 of The Pension Benefits Regulations, 1993. 5 Jne 2015 cP-36.2 Reg 2 s10; 4 Mar 2016 SR 12/2016 s3; 24 Dec 2020 SR 128/2020 s3. 6 PUBLIC EMPLOYEES P-36.2 REG 2 PENSION PLAN, 2015 Variable benefits 11(1) In this section: “variable benefit” means a pension benefit that: (a) is payable from a variable benefit account to a member or to the specified beneficiary of a deceased member; (b) with respect to a calendar year, is in an amount elected by the member that is not less than the minimum amount determined for that calendar year; (c) meets the requirements of paragraph 8506(1)(e.1) of the Income Tax Regulations (Canada); and (d) meets the requirements of section 29.2 of The Pension Benefits Regulations, 1993; “variable benefit account” means the amount standing to the credit of a member with respect to which the member has elected to receive a variable benefit. (2) Subject to subsection (3), a member may elect to receive a variable benefit from the plan by transferring all or any part of the amount standing to the credit of the member in the fund to a variable benefit account. (3) An amount standing to the credit of a member in the fund shall not be transferred to a variable benefit account unless: (a) the member: (i) ceases to be employed by a participating employer; (ii) is entitled to retire and receive a prescribed pension benefit; and (iii) subject to subsections (4) and (5), designates a beneficiary; (b) the amount standing to the credit of the member in the fund is greater than the maximum amount mentioned in section 9; and (c) the member’s spouse has signed a consent to the transfer in Form 2.01 pursuant to The Pension Benefits Regulations, 1993 and the consent has been filed with the board.