chapter 55

1938 SUPERANNUATION, MUNICIPAL. CHAP. 5 5

C H A P T E R 55.

A n A c t respect ing the Superannuation of Persons employed by Municipalities a n d certain other Public Bodies.

[Assented to 9th December, 1938.~]

H IS MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of British Columbia,

enacts as follows:—

Preliminary.

1. This Act may be cited as the " Municipal Superannuation short «ae. Act."

2. In this Act, unless the context otherwise requires:— interpretation. " Actuary " means the Actuary appointed under this Act: " Board of School Trustees " means the Board of School

Trustees of any municipal school district within the meaning- of the " Public Schools A c t " :

" Commissioner" means the Commissioner of Municipal Superannuation appointed under this Act:

" Employee" means a person in receipt of a salary as compensation for service rendered as a member of the permanent staff of the employer, whether engaged twelve months of the year, or, owing to the nature of his occupation, for a lesser period than twelve months of the year; and also includes any such employee who has been regularly employed for a period of at least one calendar year:

" Employer " means the person directly or indirectly responsible for the payment of the salary of an employee:

" Former Act" means the " Superannuation Act," chapter 273 of the " Revised Statutes of British Columbia, 1936":

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CHAP. 55 SUPERANNUATION, MUNICIPAL. 2 GEO. 6

" Former Commission " means the Superannuation Commissioner appointed under the former Act:

" Fund " means the Municipal Superannuation Fund established and maintained under this Act:

" Prescribed " means prescribed by this Act or by the regulations :

" Retirement annuity " includes every annuity or allowance derived from the employee's contributions and payable under this Act:

" Salary " includes wages and all emoluments, perquisites, and privileges incidental to the office or employment of an employee which are reducible to a cash value:

" Service pension" includes every pension or allowance derived from the employer's contributions and payable under this Act:

" Superannuation allowance " includes service pension and retirement annuity as defined in this section:

" Trustees " means the trustees appointed under this Act.

Application 3 . T h i s A c t sha l l a p p l y t o : — ofAct ' (a.) Every municipality to which Part II. of the former

Act applied immediately prior to the commencement of this Act:

(&.) Every municipality that adopts this Act by a resolution passed by a majority consisting of not less than two-thirds of the members of its Council, present and voting at a meeting called for the purpose, of which meeting one month's previous notice has been given to each member of the Council, together with an estimate certified by the Actuary of the cost to the municipality of adopting this Act, and which resolution has been confirmed by the Council at a regular meeting held not less than one month after the passing of the resolution, and has been approved by the Provincial Secretary in writing and filed with the Commissioner:

(c.) Every employee of a municipality to which this Act applies and every person employed by a municipality to which this Act applies and who is within the scope of the agreement filed by that municipality with the former Commission or the resolution filed under clause (b) of this section, as the case may be; and including every person to whom Part II. of the former Act applied immediately prior to the commencement of this Act; and every person in receipt of a salary payable from the revenue of the municipality who is appointed to office by the Lieutenant-Governor in Council and to

1938 SUPERANNUATION, MUNICIPAL. CHAP. 55

whom this Act is declared to apply by by-law of the Municipal Council:

(d.) Every Board of School Trustees in respect only of its employees other than teachers within the meaning of the " Teachers' Pensions Act," to which Part III. of the former Act applied immediately prior to the commencement of this Act:

(e.) Every Board of School Trustees which adopts this Act in respect of all its employees, other than teachers within the meaning of the " Teachers' Pensions Act," by a resolution passed by a majority consisting of not less than two-thirds of its members, present and voting at a meeting called for the purpose, of which meeting one month's previous notice has been given to each member, together with an estimate certified by the Actuary of the cost to the Board of adopting this Act, and which resolution has been confirmed by the Board at a regular meeting held not less than one month after the passing of the resolution, and has been approved by the Provincial Secretary in writing and filed with the Commissioner:

(/.) Every person, other than teachers within the meaning of the " Teachers' Pensions Act," employed by a Board of School Trustees to which this Act applies, and who is within the scope of the agreement filed by that Board of School Trustees with the former Commission or the resolution filed under clause (e) of this section, as the case may be, and including every person to whom Part III. of the former Act applied immediately prior to the commencement of this Act:

(g.) The Vancouver and Districts Joint Sewerage and Drainage Board and all its employees, except its casual employees:

(h.) The Greater Vancouver Water District and its employees, except its casual employees:

(i.) Every hospital and all its employees, except its casual employees, to which this Act is declared to be applicable by order of the Provincial Secretary on the joint request of the governing authority of the hospital and a majority of its employees.

4. Upon the commencement of this Act, every subsisting substitution of pen-superannuation or other allowance granted under the provisions fo subsfstlnggrants of the former Act in respect of each person to whom Part II. aiiowaUS!1,>atlon

or Part III. of that Act applied shall ipso facto cease to be payable; and in lieu thereof there shall be payable to that person pursuant to the provisions of this Act:—

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Establishment of Fund.

Contributions by deductions from salary of employees.

Emoluments pa r t of salary.

Transfer of employees' contributions made under former Act.

(a.) A service pension, if on the single life plan, equal in amount to the service pension to which the employee would have been entitled under this Act if this Act had been in force on the date the subsisting superannuation or other allowance was so granted, or, if on any plan other than the single life plan, for the amount determined by the Actuary to be the actuarial equivalent of such service pension on the single life plan; and

(6.) A retirement annuity equal in amount to one-half of the subsisting superannuation or other allowance so granted in respect of that person by virtue of subsection (1) of section 14 of the former Act; and

(c.) A retirement annuity equal in amount to the further sum so granted and subsisting in respect of that person by virtue of subsection (2) of section 14 of the former Act;

and the aggregate of the amounts ascertained under clauses (a) and (&) and (c) shall be the total superannuation allowance so payable in respect of that person under this Act.

Superannuation Fund.

5. (1.) For the payment of superannuation allowances under this Act a fund, to be known as the " Municipal Superannuation Fund," shall be established and maintained in the manner hereinafter provided.

(2.) The Commissioner shall keep account of all contributions and moneys received and all moneys paid out under this Act and of the assets and liabilities of the Fund.

6. (1.) From the salary from time to time payable to each employee to whom this Act applies, his employer shall cause to be deducted an amount equal to four per centum of the amount of the salary, or such greater amount as the employee may at his option by notice in writing filed with his employer and the Commissioner require; and the employer shall forthwith forward the amount deducted to the Commissioner as a contribution from that employee to the Fund.

(2.) Where, in addition to a cash salary, an employee enjoys emoluments, perquisites, or privileges incidental to his office or employment which are reducible to a cash value, such value shall be fixed by his employer, who shall notify the Commissioner of the amount thereof, and the same shall be deemed to form part of the employee's salary for all purposes of this Act.

7. (1.) The net amount at the credit of each employee's account in the Superannuation Fund under the former Act at the time of the commencement of this Act, arising from contributions from that employee under section 5 or section 6 of the

248


former Act or under both of these sections of that Act, shall form part of his contributory account in the Fund under section 6 of this Act, ,and shall, together with all accounts relating thereto, be transferred to the Commissioner.

(2.) The net amount at the credit of an employee's account in the Superannuation Fund under the former Act at the time of the commencement of this Act arising from special voluntary contributions from that employee under section 9 of the former Act shall also be transferred to the Commissioner and may, upon request in writing filed by him with the Commissioner forthwith after the commencement of this Act, be withdrawn by him. The amount shall be paid from the Fund to the employee upon the filing of the request, but otherwise shall form part of his contributory account in the Fund.

8. Subject to the provisions of subsection (6) of section 10, contributions by each employer to whom this Act applies shall, as a contribution emv °yers' to the Fund to provide for service pensions and other amounts chargeable to the employer, pay to the Commissioner on the last day of each month an amount equal to seven per centum of the aggregate salaries payable during that month to those of his employees to whom this Act applies; but the amount upon which seven per centum shall be so payable for any month shall not in any case be less than one-twelfth of the aggregate of the salaries payable by that employer to his employees during the year beginning on the first day of April, 1938, and ending on the thirty-first day of March, 1939.

9. (1.) In the case of each employer to whom this Act applies Transfer of by virtue of clause (a), (d), (g), or (h) of section 3, the net tonsmtde under*11" amount at the credit of his account in the Superannuation Fund former Act-

under section 11 of the former Act shall form part of his contributory account in the Fund under section 8 of this Act, and shall, together with all accounts relating thereto, be transferred to the Commissioner.

(2.) The contributory account of the employer shall in like manner be credited with the net amount at the credit of his special reserve account under section 13 of the former Act, or shall be debited with the net amount at the debit of his special reserve account, as the case may be.

(3.) The contributory account of the employer shall in like manner be credited with all unexpended amounts in the Superannuation Fund under the former Act taken from the employer's account under section 14 of that Act.

10. (1.) For the purposes of the computations to be made computations to pursuant to this section, the liability as at the first day of April, ofeenSiolyerS

lbiIity

1939, shall be ascertained in respect of each employer as follows:—

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(a.) From the total present value, which shall be immediately determined, on the mortality and interest basis as set out in the regulations, of the service pensions to be provided under this Act in respect of employees on the pay-roll of that employer at the date of the commencement of this Act, there shall be deducted the net amount at the credit of the employer's contributory account under this Act; or

(&.) To that total present value shall be added the net amount at the debit of that account,—

as the case may be. Requirements to (2.) Computations shall be made annually in respect of each SaF?Sdn soIveney employer t o whom this Act applies to ascer ta in the aggrega te

of:— (a.) The amounts of the service pensions and annui t ies

payable under section 4 in respect of former employees of t h a t employer :

(&.) In te res t a t the r a t e of th ree per centum per annum on the amount ascertained in respect of t h a t employer under subsection (1) ; less the amount of the payments made under clause (c) of th is subsect ion:

(c.) An amount equal to two per centum of the amount ascertained in respect of t h a t employer under subsect ion (1) ; and

(d.) The amounts required according t o the prescribed tables to pay for the service pensions payable unde r this Act in respect of employees of t h a t employer who were not in his service or wi th in t h e scope of this Act a t the date of its commencement.

Advances from (3.) For the purpose, of maintaining the actuarial solvency ofThe'provfncT611116 of the Municipal Superannuation Fund, if the aggregate of the

amounts so ascertained under subsection (2) is in excess of the contributions of the employer under section 8, the shortage in the contributions shall be made good to the Fund by the Minister of Finance each year out of or as a charge against the Consolidated Revenue of the Province, as follows:—

(a.) By payment on behalf of the employer of money to the Commissioner; or

(6.) By the transfer to the Commissioner, on behalf of the employer, of securities of a class specified in clause (a) of section 13 of the " Trustee Act," bearing interest at the rate of not less than three and one-half per centum per annum, equal in value to the shortage; or

(c.) By certificate of loan for the amount of the shortage deposited with the Commissioner, on behalf of the employer, subject to the payment from the Consolidated Revenue Fund in money from time to time of

250


such amounts thereof only as are required by the Commissioner, in addition to the assets of the employer in the Fund, to enable the Commissioner to make all payments of superannuation allowances in respect of that employer under this Act.

(4.) No interest shall be payable to the Minister of Finance interest charges, on any of the moneys advanced on behalf of the employer pursuant to clause (a) or (c> of subsection (3) . The Minister of Finance shall pay half-yearly to the Commissioner interest at the rate of three and one-half per centum per annum on the amounts covered by certificates deposited under clause (c) of subsection (3), after deducting from those amounts the payments made in cash in respect thereof under that clause and the amounts thereof repaid under subsection (5).

(5.) Where the contributions of the employer under section 8 Repayment of . advances.

are in excess of the aggregate of the amounts so ascertained under subsection (2), the amount of the excess shall be applied by the Commissioner in repayment to the Minister of Finance, without interest, of the moneys and securities advanced by the Minister of Finance under subsection (3), and in reduction of the amounts outstanding under the certificates deposited under clause (c) of that subsection.

(6.) Where, after the discharge in full of the moneys, securi- Reduction in rate v ' of contribution.

ties, and certificates in the manner provided by subsection (5), the contributions of the employer under section 8 are in excess of the amounts required to enable the Commissioner to make all payments of superannuation allowances in respect of that employer under this Act, the rate per centum payable by that employer under section 8 shall be reduced to such rate as the Commissioner may from time to time fix as sufficient to meet the obligations imposed on the employer under this Act.

11 . In case of a transfer of an employee from the service of Transfer of funds one employer to whom this Act applies to the service of another emPioyles.r ° employer to whom this Act applies, the Commissioner shall make the appropriate transfers with respect to the employee's account and the employers' accounts in the Fund in accordance with the table of transfer values prepared by the Actuary as contained in the regulations approved by the Commissioner, to cover the following:—

(a.) The transfer value of the retirement annuities purchased or being purchased by the employee under section 15:

(6.) The transfer value of the service pension to be provided by the employer in respect of the employee, according to the prescribed table of transfer values.

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Method of calculating length of service of employee.

Persons entitled to superannuation allowance.

Limitation of ages.

Period of service required.

Superannuation Allowance.

12. For the purpose of calculating the length of service of an employee to whom this Act applies, the total number of months worked by an employee shall be divided by twelve, and the number resulting therefrom shall be deemed to be the number of years of service of that employee.

13. (1.) Subject to subsections (2) and (3), each employee to whom this Act applies shall be entitled to a superannuation allowance on reaching his or her retiring age, as follows:—

(a.) In the case of men, other than firemen and policemen, the minimum age of sixty years or the maximum age of sixty-five years; except that in the case of police magistrates the maximum retiring age of sixty-five years shall not apply, but they shall become entitled to a superannuation allowance at age sixty-five years unless disabled at an earlier age:

(6.) In the case of firemen and policemen, the minimum age of fifty-five years or the maximum age of sixty years:

(c.) In the case of women, the minimum age of fifty-five years or the maximum age of sixty years.

(2.) After its commencement, this Act shall not apply to any person who is over the age of thirty years at the time he is taken into service as an employee by any employer to whom this Act applies, except in the case of professional and executive officers or in other special cases with the approval of the Commissioner. No employee to whom this Act applies shall :•—-

(a.) Subject to subsection (3) hereunder, remain in the service of his employer after reaching the maximum retiring age specified for him in subsection (1) ; or

(&.) After reaching the minimum retiring age so specified, be retired from service by his employer prior to reaching the maximum retiring age so specified, unless approval in writing of the retirement is obtained from the Commissioner.

(3.) Except in the case of firemen and policemen, clause (a) of subsection (2) shall not come into operation until the first day of April, 1942.

(4.) Nothing in this section shall prevent an employer from retiring from service any employee who has attained the maximum retiring age.

(5.) No employee who enters the service of the employer after the commencement of this Act shall be entitled to a superannuation allowance unless he has been in the service of the employer for a period of at least twenty years prior to reaching the maximum retiring age specified for him in subsection (1).

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No employee who is in the service of the employer at the commencement of this Act, and who cannot complete a period of service of twenty years prior to reaching the maximum retiring age, shall be entitled to a superannuation allowance unless he remains in the service until he reaches the maximum retiring age specified for him in subsection (1), except where he is sooner retired pursuant to this Act on the ground of total and permanent disability. All service of an employee rendered to any employer to whom the former Act or this Act applied (at the time of the service), including service rendered to a former employer who amalgamated with such employer, shall be included in determining the employee's period of service for the purposes of this Act.

14. The superannuation allowance to which an employee is service pensions entitled shall consist in part of a service pension provided from em°pioyers.y

the contributions of his employer, as follows:— (a.) A minimum service pension on the single life plan of

three hundred and sixty dollars per annum for twenty years of service; or, in the case of an employee who was in the service at the commencement of this Act, and who has attained the maximum retiring age and whose period of service is less than twenty years, of an amount per annum equal to the proportion of three hundred and sixty dollars which the period of service bears to twenty years:

(&.) In the case of men (other than firemen and policemen) and women, an additional service pension on the single life plan of an amount equal to one dollar per annum for each complete month of service over twenty years of service:

(c.) In the case of firemen and policemen, an additional service pension on the single life plan of an amount equal to thirteen dollars and fifty cents per annum for each complete year of service over twenty years of service, and in the case of additional service less than a complete year one dollar and ten cents per annum for each complete month of such additional service.

15. The superannuation allowance to which an employee is Retirement annuities entitled shall consist in part of a retirement annuity for the employees'contri-amount which his contributions under section 6, together with the amounts forming part of his contributory account by virtue of section 7 (including all prescribed interest additions), will provide according to the prescribed tables and the plan selected or applied pursuant to section 16.

16. (1.) The superannuation allowance may be granted on piansof

253

** ,-, p •.-. . i superannuation a n y of t h e fo l lowing p l a n s : — allowances.


(a.) Single life, payable for the life of the employee: (&.) Single life guaranteed, payable for the life of the

employee or for a term of years certain, whichever period shall be the longer, and the term of years shall in no case be less than five years:

(c.) Joint life and last survivor, payable during the joint life of the employee and any person nominated by him prior to the granting of the allowance, and during the life of the survivor:

(d.) Such combination of the single life plan and the joint life and last survivor plan as the contributor with the approval of the Commissioner may request.

(2.) Where no selection of plan is made the superannuation allowance shall be on the single life guaranteed plan for a term of ten years certain.

(3.) The amount of the superannuation allowance under clause (6), (c), or (d) of subsection (1) so selected or applied shall be the actuarial equivalent of the amount of a single life allowance calculated according to the prescribed mortality tables and interest basis.

(4.) In the granting of a superannuation allowance on the single life guaranteed plan for a term of years certain under clause (6) of subsection (1), provision may be made that, in the event of the death of the beneficiary before the expiration of the term, payment of the allowance for the remainder of the term shall be made to a person nominated by the employee prior to the granting of the allowance. Where provision is so made, if the person nominated survives the beneficiary, the allowance shall not for any purpose form part of the estate of the deceased beneficiary.

Disability 17. (1.) Subject to the provisions of subsection (2) of this allowances. section, where an employee becomes totally and permanently

disabled before reaching his minimum re t i r ing age, he shall be entitled to receive dur ing his disability a disability allowance on the single life plan comprising the following amoun t s :—

(a.) An amount equal to one-half of the service pension, computed on the single life plan, which the employer would have had to provide under section 14 if the employee had remained in service until his minimum retiring age, together with a uniform annual increase for each year of service of an amount equal to one-half of the service pension divided by the difference between the employee's minimum retiring age and his age at the time he entered the service:

(6.) An amount equal to one-half of the retirement annuity, computed on the single life plan, which the employee's

254


contributions would have provided under section 15 if he had remained in service until his minimum retiring age, together with a uniform annual increase for each year of service of an amount equal to one-half of the retirement annuity divided by the difference between the employee's minimum retiring age and his age at the time he entered the service:

(c.) The provisions of section 16 shall apply in the case of disability allowances granted under the provisions of this section.

(2.) An employee shall as from the date of entering employment be eligible in respect of total and permanent disability which arises out of and in the course of his employment to receive that part of the disability allowance consisting of the amount provided by clause (a) of subsection (1), but in respect of any disability not arising out of and in the course of his employment, he shall not be eligible to receive that part of the disability allowance consisting of the amount provided by clause (a) of subsection (1) unless that disability commences after he has served for a period of ten years under this Act or under the former Act and this Act.

(3.) For the purposes of this section " total and permanent disability " shall mean the total and presumably permanent incapacity of the employee arising out of mental or physical disability to follow the occupation in which he is employed by his employer; but no employee shall be considered to be totally and permanently disabled until he has been examined at the direction of the Commissioner by three duly qualified medical practitioners appointed by the Commissioner, of whom at least two concur in certifying to the Commissioner that to the best of their knowledge and belief the employee is totally and permanently incapacitated from following the occupation in which he is employed and should be retired forthwith from active employment.

(4.) The Commissioner may require further similar examinations and certifications, not more often than once a year; and, if the Commissioner finds that the employee has ceased to be totally and permanently disabled within the meaning of this section prior to his reaching his minimum retiring age, then upon his again becoming employed by his former employer his disability allowance shall ipso facto be suspended, subject to reinstatement by the Commissioner if he again becomes totally and permanently disabled.

18 . (1.) Upon application therefor, in case of the death of an Allowances to widows employee before he has been granted a superannuation allow- lmpid0

eyees.dents of

ance, an allowance in lieu of a refund or payment under section 21 shall be granted on the single life plan payable from the Fund

255


to any relative of the employee who is not in receipt of a pension under the " Old-age Pension Act" and who was dependent on him for support and who has been nominated by the employee with the approval of the Commissioner by a nomination in writing signed by the employee and filed with the Commissioner, or if there is no relative so nominated to the widow of the employee, comprising the following amounts:—

(a.) An amount equal to one-half of the service pension, computed on the single life plan, which the employer would have had to provide under section 14 if the employee had lived until his minimum retiring age:

(&.) An amount equal to one-half of the retirement annuity which the employee's contributions would have provided under section 15 if he had lived until his minimum retiring age.

(2.) Where an allowance is granted under this section to a widow or female relative, the part thereof arising under clause (a) of subsection (1) shall cease in the event of her remarriage or marriage.

(3.) Where, on the death of the person to whom an allowance is granted under this section, the amount at the credit of the employee's contributory account in the Fund at the time of his death exceeds the aggregate of the payments of allowance made to that person under this section arising from the employee's contributory account, the amount of the excess shall be paid from the Fund to the personal representatives of the employee.

(4.) Provided that, should the death of the employee occur, except from accidental causes, within five years from the date he entered the service of his employer, the allowance under this section shall not be payable.

Deferred service 19- Where an employee is dismissed from service by his dfsmS"case ot employer after completing twenty years of service and before

reaching his minimum retiring age, he shall, on reaching that minimum retiring age, be entitled to receive an allowance payable from the employer's contributory account in the Fund, equivalent to the service pension that would otherwise have been payable to him under section 14; but the allowance provided by this subsection shall not be paid to a person who is entitled to receive any service pension in respect of service with any other employer under this Act.

Refund or annuity 20. Where an employee resigns or is dismissed from service by based on employee's -i* <• i j? i * i * • • j • . 1 1 1 1

contributions. his employer before reaching his minimum retiring age, he shall be entitled to the payment to him of the amount at the credit of his contributory account in the Fund at that time, or he may leave the amount at his credit in the Fund until he reaches his minimum retiring age, in which event he shall be entitled to a

256


retirement annuity to be granted in like manner to that provided in respect of retirement annuities under section 15.

2 1 . Subject to the provisions of section 18, if an employee dies Refund in case of before he has been granted a superannuation allowance, the amount at his credit in the Fund shall be paid to any person nominated in writing signed by the employee and filed with the Commissioner, or, if there is no person so nominated, to the widow of the employee; or, if there is no person so nominated or widow, to the personal representative of the employee. Where the amount is payable to a person nominated by the employee or to his widow, the amount shall not be subject to the control of the provisions as to creditors of the employee or form part of his estate. payment.

22. (1.) Every superannuation allowance shall be paid Assignment of superannuation

monthly from the Fund. a l l o , ,™»! ! eJ

prohibited.

(2.) No superannuation allowance may be assigned, charged, or attached by process in any Court; but where an employee has been granted an allowance on the single life guaranteed plan for a term of years certain under clause (a) of subsection (1) of section 16, he may by his will bequeath the allowance for the remainder of the term in the event of his death before the expiration of the term without leaving any person surviving who is entitled to payment of the allowance under subsection (4) of section 16.

(3.) Any person who is in receipt of a superannuation allow- suspension of , j . , , , , , , , , . , . payments where

ance may engage m work for any employer (whether within the employee re-enters scope of this Act or not), and may receive salary for his work; service' but where the aggregate of his monthly service pension and his monthly salary exceeds one hundred dollars, if he is married, or seventy-five dollars, if he or she is single or is a widower or widow, the service pension provided by the former employer under sections 4, 14, 17, and 18 shall, so long as the excess continues, be reduced by the amount of such monthly excess. The Commissioner shall have full power to make all investigations and take all steps necessary to ensure compliance with the provisions of this subsection.

23. Nothing in this Act shall prevent any employer from Provision for supplementing any superannuation allowance provided for under allowance, this Act.

A dministration. 24t. The Department of the Provincial Secretary shall be Administration vested

charged with the administration of this Act, and the Provincial PwvlncSfseeretary. Secretary shall lay before the Legislature within fifteen days after the commencement of each annual session a return containing a full and clear statement and accounts of all business

257


Commissioner of Municipal Superannuation.

Expenses of administration.

Duty of Commission to keep books and accounts.

done in pursuance of this Act during the fiscal year last previous to such session, and showing the condition of the Fund.

25. For the purpose of administering and carrying out the provisions of this Act, there shall be an officer to be called the Commissioner of Municipal Superannuation, who shall be appointed by the Lieutenant-Governor in Council and shall receive remuneration at the rate of six hundred dollars per annum. In addition to his duties under this Act the Commissioner shall perform such other duties as may be assigned to him by the Lieutenant-Governor in Council.

26. All salaries and expenses necessarily incurred in the administration of this Act shall, in the absence of any special appropriation of the Legislature available for the purpose, be paid from the Consolidated Revenue Fund, except that such payments as may arise and are authorized under sections 25 and 35 of this Act shall be paid from the Municipal Superannuation Fund.

27. In addition to the accounts to be kept by the Commissioner pursuant to subsection (2) of section 5, the Commissioner shall record such data as may be required by the Actuary, and shall keep all books and accounts necessary to determine the superannuation allowances payable under this Act, and to record the contributions made by employers and employees and the loans and payments made from the Consolidated Revenue Fund to the Fund.

Powers of Commission.

Moneys available for investment.

28. (1.) Subject to the provisions of this Act and the regulations, the Commissioner may:—

(a.) Determine whether or not any person is within the scope of this Act and entitled to receive a superannuation allowance thereunder:

(&.) Determine the amount of any superannuation allowance granted under this Act:

(c.) Determine all such further matters arising from time to time in the administration of this Act as are necessary to be determined for the proper carrying-out of its provisions.

29. For the purposes of this Act there shall be appointed by the Lieutenant-Governor in Council not more than three persons, to be called the Trustees of the Municipal Superannuation Fund.

30. The Commissioner shall from time to time pay over to the Trustees for investment such moneys in his hands as are available for investment.

258


3 1 . The Trustees shall be charged with the duty of investing Duties of trustees. all moneys in their hands, whether arising under section 30 or any other section of this Act, and shall have power to vary or realize such investments from time to time, but their powers are subject to the following restrictions:—

(a.) The Trustees shall not make any investment or realize any security without first obtaining the approval in writing of the Minister of Finance to that investment or to the realization:

(&.) The Trustees shall not make any investment except in securities of the Government of the Dominion or of the Province, or securities the principal and interest of which are guaranteed by the Government of the Dominion or of the Province:

(c.) In respect of securities that are registered as to principal or as to principal and interest, the trustees shall obtain registration in the joint names of the Trustees and of the Minister of Finance:

(d.) The Trustees shall deposit with the Minister of Finance all securities for safe-keeping.

32. The Trustees shall deposit in the names of the Trustees Moneys to be and the Minister of Finance jointly all uninvested cash in any bank.ltedm

chartered bank that may be specified by the Minister of Finance.

33 . The Trustees shall at the request of the Commissioner, Moneys required but subject to the approval of the Minister of Finance, pay to ofA^036

the Commissioner such moneys as may be required for the purposes of this Act.

34. No superannuation allowance shall be granted to any per- inquiry by son until the Commissioner, after inquiry in the manner pre- aiutSes?10"m

scribed by the regulations, has found:— (a.) That the person is within the scope of this Act; and (b.) That the person is entitled to receive the superannua

tion allowance under the provisions of this Act, and the grounds upon which he is so entitled.

35. The Commissioner shall have full power and authority to Appointment of employ an Actuary whenever necessary for purposes herein Actuary-prescribed.

36. (1.) The Actuary shall make all actuarial reports and Actuarial computations required by the Commissioner from time to time, valuatlons-and shall make actuarial valuations of the assets and liabilities under this Act of each employer to whom this Act applies at the expiration of three and six years, respectively, from the date of commencement of this Act, and at the expiration of each consecutive period of five years thereafter.

259


Enforcement of payments from employers.

Right to demand refunds.

Reports by beneficiaries.

Power of dismissal not impaired.

General power to make regulations.

Special power to make regulations.

(2.) All valuations of the liabilities under subsection (3) of this section shall be made upon an interest assumption not greater than three per centum per annum, combined with prescribed tables of mortality.

(3.) The Actuary shall state separately the liabilities arising from:—

(a.) Retirement annuities arising from employees' contributions, made after the commencement of this Act and amounts (if any) transferred under section 7:

(6.) Service pensions to be provided by the employer in respect of employees in service at the time of the valuation.

(4.) The amount outstanding of any certificate of loan under clause (c) of subsection (3) of section 10 shall be deemed to be cash, for the purpose of any actuarial valuation under this Act.

37. Payment of every sum of money which an employer is required by this Act to pay or forward to the Commissioner may be enforced by action in any Court, in the name of the Commissioner, as for a debt due by that employer to the Commissioner.

38 . Except as expressly provided in this Act, nothing in this Act shall be construed to confer upon any person any right to demand or enforce the repayment of any amount contributed by him to the Fund, or the payment of any interest thereon.

39. Every person receiving a superannuation allowance under this Act shall keep the Commissioner informed of his whereabouts, and at least once each year shall report in person or by certificate in the prescribed form, as the Commissioner may require.

40. Nothing in this Act contained shall impair or affect the right or power of any employer to remove or dismiss from service any person.

Regulations.

4 1 . (1.) For the purpose of carrying into effect the provisions of this Act according to their true intent, the Commissioner, subject to the approval of the Lieutenant-Governor in Council, may make such regulations, not inconsistent with the spirit of this Act, as are deemed necessary or advisable. All regulations so made shall forthwith be published in the Gazette, and thereupon shall have the same force and effect as if incorporated in this Act.

(2.) Without limiting the generality of the provisions contained in subsection (1), it is declared that the power of the Commissioner to make regulations in the manner set out in that subsection shall extend to:—

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(a.) Regulating the manner of making application for and the granting of superannuation allowances:

(6.) Prescribing forms to be used for the purposes of this Act or of the regulations:

(c.) Prescribing the method of proving any fact necessary to be proved for the purpose of granting or paying superannuation allowances or for any purpose of the administration of this Act:

(d.) Providing for the inspection of pay-rolls of employers to whom any part of this Act applies, and for reports to be made by employers for the purposes of this Act; and prescribing penalties for the breach of any regulations made under this clause:

(e.) Prescribing tables, as approved by the Actuary, for use in making any actuarial valuation or computation required for the carrying-out of the provisions of this Act:

(/.) Prescribing the rate of interest to be credited in respect of the contributions of employers and employees accumulated in the Fund, or payable in respect of moneys to be paid out of the Fund by way of refund pursuant to this Act.

Miscellaneous.

42. Upon the commencement of this Act, the Lieutenant- Transfer of assets Governor in Council shall cause to be transferred to the Trustees Fund uenderluatlon

debentures of the Province bearing interest at the rate of three ormer

and one-half per centum per annum or cash or both debentures and cash equal to the amount at the credit of the Fund under the former Act as at the date of transfer, and for the purposes of this section debentures shall be valued at par.

43. The Trustees shall keep accounts and records in such Records to be kept form as may from time to time be prescribed by the Minister of by Trustees-Finance.

44. This Act shall come into operation on the first day of commencement April, 1939. of Act.

45. Upon the coming into operation of this Act, the " Super- Repeai of annuation Act," being chapter 273 of the " Revised Statutes of former Act-British Columbia, 1936," is repealed.

VICTORIA, B.C.: Printed by CHABLES F. BANFIELD, Printer to tbe King's Most Excellent Majesty.

1938.

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chapter 55

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