BILL NO. 248

(as introduced)

2nd Session, 60th General Assembly
Nova Scotia
58 Elizabeth II, 2009

Government Bill

Public Service Superannuation Act
(amended)

The Honourable Jamie Muir
Minister of Finance

First Reading: April 30, 2009

(Explanatory Note)

Second Reading:

Third Reading:

This Bill amends the Public Service Superannuation Act to increase the contribution rate to the Superannuation Fund from 7.4% to 8.4% for earnings equal to or below the Year's Maximum Pensionable Earnings under the Canada Pension Plan and from 9.6% to 10.9% for earnings above the Year's Maximum Pensionable Earnings.

1 Subsection 9(1) of Chapter 377 of the Revised Statutes, 1989, the Public Service Superannuation Act, as amended by Chapter 3 of the Acts of 2004, Chapter 9 of the Acts of 2007 and Chapter 51 of the Acts of 2007, is further amended by

(a) striking out "seven" in the first line of clause (a) and substituting "eight";

(b) striking out "nine and six-tenths" in the first line of clause (b) and substituting "ten and nine-tenths"; and

(c) striking out "nine and six-tenths" in the first line of clause (c) and substituting "ten and nine-tenths".

2 This Act has effect on and after April 12, 2009, upon the Governor in Council so ordering and declaring by proclamation.