Federal Security Interests Research Study and Report 2000

 

APPENDIX I

Summary of legislative and regulatory provisions relating to pension and benefits issues arising in the context of federal security interests

Canada Pension Plan, R.S.C. 1985, c. C-8, s. 65(1)

Section 65(1) states that benefits may not be assigned and security interests in them cannot be given.; It is further provided that any transaction purporting to assign or grant a security interest in a benefit is void.

Canadian Association of Former Parliamentarians Act, 1996, c. 13, s. 7(g)

Section 7(g) gives the Association power to create security interests in property given and bequeathed to it in order to secure any obligation of the Association.

Canadian Forces Superannuation Act, R.S.C. 1985, c. C-17, s. 14 and 70

Section 14 provides that benefits under certain specific Parts of the Act are not capable of being assigned or given as security.; It is also provided that benefits are exempt from seizure and execution.

Section 70 is identical to s. 14 except that it applies to benefits given under a different Part of the Act.

Employment Insurance Act, 1996, c. 23, s.86

Section 86 operates in the same way as s. 227 of the Income Tax Act.; Section 86 creates a deemed trust in favour of the Crown in respect of amounts required to by paid by an employer under the Act.; As with the Income Tax Act provisions, s. 86 is designed to give the Crown an absolute priority with respect to amounts deducted and not remitted.

Garnishment, Attachment and Pension Diversion Act, R.S.C. 1985, c. G-2, s. 3.

The purpose of this Act is to authorize the garnishment or attachment of the Crown and the diversion of pension benefits payable by the Crown under certain circumstances.; Section 3 states that "notwithstanding any provision of any other Act of Parliament preventing the garnishment of Her Majesty, Her Majesty may be garnisheed, subject to and in accordance with this Part and any regulation made thereunder".; The Act provides separate procedures to be followed for the garnishment of departments, Crown corporations, Canadian Forces and Parliament.

Labour Adjustment Benefits Act, R.S.C. 1985, c. L-1, s. 23

Section 23 provides that labour adjustment benefits are not capable of being assigned or given as security, and that any transaction purporting to assign or give security in a labour adjustment benefit is void.

Members of Parliament Retiring Allowances Act, R.S.C. 1985, c. M-5, s.60

Section 60 provides that allowances and benefits under the act are not capable of being assigned or given as security interests.; It is also provided that such benefits are exempt from seizure and execution.

Old Age Security Act, R.S.C. 1985, c. O-9, s. 36(1)

Section 36 provides that benefits shall not be assigned or given as security and that benefits are exempt from seizure and execution.

Pension Benefits Division Act, 1992, c. 46, s. 12(1)

Section 12(1) provides that amounts that spouses or former spouses may be entitled to have transferred are not capable of being assigned or given as security.; The section also states that such amounts are not subject to seizure or execution.

Pension Benefits Standards Act, R.S.C. 1985, c. 32 (2nd Supp.), s. 36(2)

Section 36 makes void any agreement to assign or give as security any benefit provided under a pension plan or any money withdrawn from a pension fund.

Public Service Superannuation Act, R.S.C. 1985, c. P-36, s. 10(10) and 58

Section 10(10) is similar to many of the other statutory provisions listed in this section.; It provides that benefits are not capable of being assigned or given as security and that benefits are exempt from seizure and execution.

Section 58 is identical to section 10(10) except that it pertains to benefits given under a different Part of the Act.

Royal Canadian Mounted Police Superannuation Act, R.S.C. 1985, c. R-11, s. 9(7)

Section 9(7) stipulates that benefits under Parts II and III of the Act cannot be assigned or given as security and that such benefits are exempt from seizure and execution.

Special Retirement Arrangements Act, 1992, c. 46, s.22

Section 22 provides that a benefit under a special pension plan or retirement compensation arrangement is not capable of being assigned or given as security and that such benefits are exempt from seizure and execution.

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