expressly prohibited without the prior written consent of Toronto He is the main architect of Bill 124, the controversial legislation that limits public-sector wage increases to one per cent annually for the next three years. You needn’t be a well-paid economics professor to understand that it amounts to a pay cut for MPPs of one or two per cent a year. payable to MPPs under the Legislative Assembly Act. The interest is calculated from Martin Regg Cohn is a columnist based in Toronto covering Ontario politics. "average wage" means average wage as defined in subsection 147.1 (1) of the Income Tax Act (Canada); ("salaire moyen"), "defined benefit limit" means defined benefit limit as defined in subsection 8500 (1) of the Income Tax Regulations (Canada). (4) The annual salary of every Parliamentary Assistant is 14.3 per cent of the annual salary of a member of the Assembly. (b) at the end of the calendar year in which he or she reaches 69 years of age. (1) Every individual who was a member of the Assembly on June 8, 1995 and who had been a member before that date is entitled to have his or her supplementary plan account credited with the amount determined under this (1) Every individual who is a member of the Assembly on or after January 1, 1992 is a member of the plan. As a result of the amendments in this Bill, MPPs will no longer be paid indemnities and allowances. lifetime. In fact, two sources close to the premier said this week such a proposal is a non-starter. a lifetime pension in a form acceptable for pensions payable from money purchase pension plans registered under the Income Tax Act (Canada). They shall be deemed to form part of the allowance which the person is paid under the Act. Some portions of the MPPs Pension Act, 1996 come into force on January 1, 1992 and (c) meets such other conditions as the Speaker may decide. (2) Despite subsection (1), the Minister shall not credit a member's registered plan account with an amount for a calendar year greater than the money purchase limit for the year as defined in subsection 147.1 (1) of the Income Tax Act Freedom of Information and Protection of Privacy Act, The Information and Privacy Commissioner becomes a member of the Public Service Pension Plan. The Ontario premier's salary of $208,974 has also been frozen since 2008, as have the salaries of cabinet ministers, at $165,850. "spouse" means either of a man and woman who. "B" equals the average wage for the later of 1986 and the calendar year in which the remuneration is paid. necessary modifications. (2) Despite subsection (1), the Commissioner is not entitled to purchase the credit unless the service is approved in accordance with the past service certification procedure under subsections 8307 (1) and (2) of the Income Tax The Public Service Pension Act is amended by adding the following sections: 15. permissions/licensing, please go to: www.TorontoStarReprints.com. personal fixed term deposits as set out in the Canadian Socio-Economic Information Management System (CANSIM) series B 14045 published monthly in the Bank of Canada Review over a reasonably recent period, such that the averaging period 35. 10 during his or her lifetime. 28. 51. of the House of Commons of Canada, with interest at the rate of 6 per cent per year. subsection (2) is credited to the individual's supplementary planaccount. 2. "E" equals the amount calculated under subsection (1) for the individual, assuming that the value of D in that calculation is nil; "F" equals the average Consumer Price Index for the calendar year; "G" equals the average Consumer Price Index for the calendar year in which the allowance began; and, (a) in the case of an individual who was a member of the Assembly on January 1, 1992, the annual allowance that would have been payable to him or her under the pre-reform plan for the year, determined in respect of his or her service as a or persons as the Speaker may appoint. An individual shall be deemed to be entitled to the benefits described in Part VI even if the individual was not a member of the Assembly for at least five years before June 8, 1995. 17. Find out more about how we use your information in our Privacy Policy and Cookie Policy. 14. (3) Sections 7 to 21 shall be deemed to have come into force on April 1, 1996. Yes, the average annual industrial wage in Canada is a mere $53,112 — less than half an MPP’s salary. (1) An individual who ceases to be a member of the plan after 1991 but before becoming eligible for an allowance is entitled to a refund of his or her contributions together with interest calculated at an annual rate of 6 member of the Assembly before 1992 and without increase or indexation as provided in that plan, had the pre-reform plan applied in respect of the individual, and. This copy is for your personal non-commercial use only. Oh, and those tax-free allowances were phased out decades ago, along with generous pensions for MPPs (they now get a defined contribution plan, not unlike private-sector workers). Leader of the Opposition, 55.2 per cent. It also has a very good retirement plan. 20. terms of the registered plan. 30 days after the individual ceases to be a member. equals 55. Service by the Commissioner (including service in the capacity of acting Commissioner) shall be taken into account in any determination of whether he or she is entitled to a pension for which a person's eligibility is determined with (Section 20 of the Bill, section 3 of the Act), An allowance for accommodation in Toronto will be paid only tothose ministers whose principal residence is more than 50 kilometers from Queen's Park. member of the Assembly before 1992, had the pre-reform plan applied in respect of the individual, and. (3) If the increase in the average Consumer Price Index from one year to the next is greater than 2 per cent, the increase shall be deemed to be 2 per cent for the purposes of clause (2) (b). "C" equals the amount of the allowance payable to the spouse under subsection 13 (1). (Section 19 of the Bill, sections 75 and 75.1 of the Act), The Executive Council Act is amended to change the salary payable to members of Cabinet and to parliamentary assistants, effective April 1, 1996. , I didn’t find this page helpful. (Section 9 of the Bill, "average Consumer Price Index" means the average Consumer Price Index as defined in subsection 8500 (1) of the Income Tax Regulations (Canada). equals 55. It must be in a form acceptable for pensions that are payable from money purchase pension plans registered under the Income Tax Act (Canada). (1) The Minister of Finance shall pay from the Consolidated Revenue Fund to the trust established under section 22 the amounts credited to all registered plan accounts in respect of members' service after June 7, 1995.

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