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DEADLINE FOR ELECTION OF RESERVE FORCE PENSION BUYBACK OF PRIOR SERVICE IS 31 MARCH 2008. USE THE BUYBACK CALCULATOR NOW TO HELP YOU MAKE YOUR DECISION.
This resource is intended to inform CF members about the new pension buyback plan. Note that
units are not responsible for, or prepared to, answer detailed questions about the pension
system; these inquiries should be directed to the proper administrative support staff.
For information and services regarding the CF pension plan, call 1-800-267-0325.
For detailed information on the pension plan policy:
http://www.forces.gc.ca/hr/dgcb/cfpmp
(Opens in a new window)
Additional information and pension calculator:
http://www.admfincs.forces.gc.ca/pension/intro_e.asp
(Opens in a new window)
Slides from Captain Hunt's briefing Feb 27:
Reserve Force Pension Plan
Buyback of Prior Service
For an overview of the new Reserve Force Pension Program, see CANFORGEN 099/07, CANFORGEN 036/07
and CANFORGEN 003/07, available below.
NOTE: The CANFORGENs listed below are static documents, posted Feb 27 2008 and
are not being maintained or updated. Contact the Armory Services Center to ensure
you are getting the most current information - Webmaster.
To view a Microsoft Word version of the CANFORGEN text, click here.
CANFORGEN 099/07 CMP 040/07 051412Z JUN 07
CANADIAN FORCES PENSION MODERNIZATION PROJECT - SUPPLEMENTARY RESERVE (SUPP RES) PROCEDURES
UNCLASSIFIED
REFS: A. CANFORGEN 036/07 CMP 016/07 221340ZFEB 07
B. DPGP 035 151528 MAY 06 CF PENSION MODERNIZATION IMPLEMENTATION DELAY - ADMINISTATIVE DIRECTION CONCERNING TRANSFER TO SUPPLEMENTARY RESERVE
C. DAOD 5002-4
1. ELIGIBLE SUPP RES MBRS MAY ELECT PAST SERVICE UNDER THE NEW CFSA ANNOUNCED AT REF A, PROVIDED THEY HAVE AT LEAST ONE DAY OF PAID SERVICE AFTER 01 MAR 07. TO ELECT SERVICE SUPP RES MBRS WILL BE REQUIRED TO REPORT TO THE NEAREST CF ESTABLISHMENT. THE PURPOSE OF THIS MESSAGE IS TO REQUEST THE ASSISTANCE OF ALL CF ESTABLISHMENTS IN THE ADMINISTRATION OF ELIGIBLE SUPP RES PERSONNEL WHO CHOOSE TO ELECT SERVICE UNDER THE NEW CFSA
2. TO FACILITATE THIS PROCESS, DPGP 5 HAS CREATED A SPECIAL SUPP RES ATTENDANCE REGISTER FORM, DND 2470 (05-2007) WHICH IS LOCATED AT HTTP://IMGAPP.MIL.CA/DFC2/
3. UNITS ARE NOT RESPONSIBLE FOR RESPONDING TO MEMBERS PENSION RELATED QUERIES. THESE QUERIES ARE TO BE REFERRED TO DAPPP IAW REF A PARA 17
4. CF ESTABLISHMENTS ARE REQUESTED TO TAKE THE FOLLOWING ACTIONS:
A. WHEN THE MBR REPORTS TO THE UNIT HE/SHE MUST FILL OUT PART 1 AND SIGN PART 2 OF THE ATTENDANCE REGISTER FORM DND 2470 (05-2007) THE UNIT MUST THEN VERIFY THE DOCUMENTS LISTED BELOW:
(1) LETTER OF ELIGIBILITY FOR PENSION PLAN,
(2) PROOF OF MEMBER S IDENTIFICATION (PHOTO ID),
(3) VOID CHEQUE IN ORDER TO DO A DIRECT FUNDS TRANSFER
B. ONCE THE MBR HAS SIGNED THE ATTENDANCE REGISTER FORM, THE UNIT REPRESENTATIVE CERTIFIES THE MEMBER S ATTENDANCE BY SIGNING THE REGISTER IN PART 3
C. THE UNIT THEN FORWARDS THE DND 2470 (05-2007) WITH THE DOCUMENTS LISTED AT PARA 3A ABOVE TO NDHQ/DPGP 5-5 (SUPP RES) FOR RPSR INPUT AND CERTIFICATION OF PART 4
5. MEMBERS ARE TO REPORT TO THE NEAREST CF UNIT. IF THAT UNIT IS OUTSIDE THE MEMBER'S IMMEDIATE GEOGRAPHIC AREA, NORMAL TD DIRECTIVES SHALL APPLY. NO FINANCIAL COST WILL BE INCURRED BY THE CF ESTABLISHMENT TO WHICH THE MEMBER REPORTS, BUT THE UNIT WILL NEED TO INITIATE ANY NECESSARY PAPERWORK. ALL FINANCIAL COMMITMENTS WILL BE ASSUMED BY NDHQ (DPGP 5-5)
6. REF B PROVIDED GUIDANCE TO RELEASE CLERKS FOR THE TRANSFER OF MEMBERS TO THE SUPP RES DEPT ID 8999 IN HRMS. RELEASE CLERKS ARE ADVISED THAT EFFECTIVE 01 MAR 07, DEPT ID 8999 WAS DEACTIVATED. ALL MEMBERS BEING TRANSFERRED TO THE SUPP RES WITH A TRANSFER DATE AFTER 01 MAR 07 SHALL BE TRANSFERRED IAW THE PROVISIONS OF REF C
7. OPI: NANCY FOLEY, DPGP 5-5, TEL NUMBER 613-995-0793
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CANFORGEN 036/07 CMP 016/07 221340Z FEB 07
PENSION MODERNIZATION - COMING INTO FORCE
UNCLASSIFIED
1. I AM PLEASED TO ANNOUNCE THAT THE NECESSARY APPROVALS HAVE NOW BEEN SECURED AND THE LONG-AWAITED CF PENSION MODERNIZATION WILL BE IMPLEMENTED ON 1 MAR 2007
2. THE GOVERNOR IN COUNCIL HAS FIXED 1 MAR 07 AS THE DAY ON WHICH A NUMBER OF AMENDMENTS TO THE CANADIAN FORCES SUPERANNUATION ACT (CFSA) WILL COME INTO FORCE (CIF). AS WELL, TREASURY BOARD HAS APPROVED THE FOL:
A. REGULATIONS THAT PROVIDE THE SUPPORTING RULES FOR MODERNIZING CHANGES AND ALSO PROVIDE FOR COVERAGE FOR LONG-TERM FULL-TIME MEMBERS OF THE RESERVE FORCE
B. THE REGULATIONS THAT ESTABLISH THE RESERVE FORCE PENSION PLAN AND
C. AMENDMENTS TO THE RESERVE FORCE RETIREMENT GRATUITY THAT MAKE THE APPROPRIATE FORMULA ADJUSTMENTS TO TAKE INTO ACCOUNT THE INTRODUCTION OF A RESERVE FORCE PENSION PLAN. THESE APPROVALS WILL PROVIDE PENSION ARRANGEMENTS FOR BOTH REGULAR AND RESERVE FORCES THAT ARE MODERN, FLEXIBLE AND COMPARABLE TO OTHER FEDERAL SECTOR PENSION ARRANGEMENTS
3. REGULAR FORCE: HIGHLIGHTS OF THE NEW RULES ARE AS FOL:
A. ELIGIBILITY FOR A PENSION-TYPE BENEFIT WILL DEPEND ON THE MEMBER S YEARS OF PENSIONABLE SERVICE AND SITUATION AT RELEASE RATHER THAN ON TERMS OF SERVICE
B. MEMBERS WILL BE ELIGIBLE FOR A PENSION-TYPE BENEFIT (VESTED) ONCE THEY HAVE TWO YEARS OF PENSIONABLE SERVICE TO THEIR CREDIT
C. MEMBERS WILL BE ELIGIBLE FOR AN IMMEDIATE UNREDUCED ANNUITY (IA) UPON RELEASE, IF THEY HAVE TWO OR MORE YEARS OF PENSIONABLE SERVICE TO THEIR CREDIT AND CAN MEET ONE OF THE FOLLOWING CRITERIA:
(1) THEY HAVE COMPLETED NOT LESS THAN 25 YEARS OF PAID CANADIAN FORCES SERVICE (9,131 DAYS). BOTH REGULAR FORCE TIME AND RESERVE FORCE TIME CAN BE COUNTED AND TIME IS CUMULATIVE NOT CONSECUTIVE
(2) THEY HAVE REACHED 60 YEARS OF AGE OR
(3) THEY HAVE REACHED 55 YEARS OF AGE AND HAVE TO THEIR CREDIT NOT LESS THAN 30 YEARS OF PENSIONABLE SERVICE
D. MEMBERS WITH 2 YEARS PENSIONABLE SERVICE THAT DO NOT MEET THE CRITERIA FOR AN IA WILL BE ENTITLED TO A DEFERRED ANNUITY. THERE WILL BE TWO ALTERNATIVES TO THE DEFERRED ANNUITY. CF MEMBERS WILL BE ABLE TO START THEIR PENSION ANYTIME FROM AGE 50 ON A REDUCED BASIS. ALTERNATIVELY IF THEY ARE UNDER 50 AND NOT ENTITLED TO AN IA THEY WILL BE ABLE TO REQUEST TO HAVE THE LUMP SUM EQUIVALENT OF THEIR PENSION BENEFIT (CALLED THE TRANSFER VALUE) TRANSFERRED TO A LOCKED-IN RETIREMENT SAVINGS VEHICLE
E. MEMBERS WITH LESS THAN TWO YEARS OF PENSIONABLE SERVICE WHEN THEY RELEASE WILL RECEIVE A RETURN OF CONTRIBUTIONS WITH INTEREST. IT SHOULD BE NOTED THAT THE NEW LOCKING-IN RULES MEAN THAT A MEMBER WHO HAS TWO OR MORE YEARS OF PENSIONABLE SERVICE WILL NOT BE ELIGIBLE FOR A REFUND OF CONTRIBUTIONS. THERE IS AN EXCEPTION, HOWEVER, FOR REGULAR FORCE MEMBERS WHO ARE CONTRIBUTORS ON 28 FEB 07 AND WHO RELEASE BEFORE 1 MAR 09, WITH LESS THAN TWENTY YEARS OF PENSIONABLE REGULAR FORCE SERVICE. PROVIDED SUCH A MEMBER IS NOT ELIGIBLE FOR AN IMMEDIATE ANNUITY, HE/SHE MAY OPT TO RECEIVE A REFUND OF CONTRIBUTIONS PLUS INTEREST AND
F. A SURVIVOR BENEFIT FOR CHILDREN 18 TO 25 YEARS OF AGE WILL BE PAID DURING THE MONTHS OF SCHOOL ATTENDANCE
4. FOR REGULAR FORCE OFFICERS THE 25 YEARS CF SERVICE THRESHOLD FOR AN IA REFERRED TO IN PARA 3(C)(I) WILL BE PHASED IN : DETAILS OF THE PHASE IN ARE AS FOL :
A. COLONEL AND ABOVE
(1) 1 MAR 07 UNTIL 31 DEC 07 - 10,227 DAYS (28 COMPLETE YEARS)
(2) 1 JAN 08 UNTIL 31 DEC 08 - 9,861 DAYS (27 COMPLETE YEARS)
(3) 1 JAN 09 UNTIL 31 DEC 09 - 9,496 DAYS (26 COMPLETE YEARS) AND
(4) 1 JAN 10 AND AFTER - 9,131 DAYS (25 COMPLETE YEARS)
B. OTHER OFFICERS
(1) 1 MAR 07 UNTIL 31 DEC 07 - 9,496 DAYS (26 COMPLETE YEARS) AND
(2) 1 JAN 08 AND AFTER - 9,131 DAYS (25 COMPLETE YEARS)
5. REGULAR FORCE MEMBERS WHO REMAIN CONTRIBUTORS UNDER THE ACT FROM 28 FEB 07 UNTIL RELEASE, AND WHO MEET SPECIFIED CONDITIONS, MAY CHOOSE TO HAVE THEIR PENSION DETERMINED UNDER THE OLD RATHER THAN THE NEW RULES. THESE ARE THE SO CALLED QUOTE GRANDFATHERING UNQUOTE PROVISIONS. A DETAILED CHART OF GRANDFATHERING RULES TOGETHER WITH COMPANION DECISION TREES WILL BE PROVIDED TO YOUR BASE / WING ADMIN AUTHORITIES
6. RESERVE FORCE : RESERVE FORCE MEMBERS WILL HAVE ACCESS TO PENSION ARRANGEMENTS FOR THE FIRST TIME. THEIR PENSION COVERAGE WILL BE DETERMINED BY THEIR PATTERN OF CF SERVICE
7. RESERVISTS COVERED UNDER THE REGULAR FORCE PLAN : MEMBERS OF THE RESERVE FORCE WHO WORK ON A FULL-TIME BASIS FOR 55 MONTHS (1674 DAYS) IN A 60-MONTH PERIOD WILL BE COVERED UNDER THE SAME ARRANGEMENTS THAT APPLY TO THEIR REGULAR FORCE COUNTERPARTS. A MEMBER S SERVICE AND EARNINGS SINCE 1 APR 99 WILL BE USED TO DETERMINE ELIGIBILITY TO JOIN THE REGULAR FORCE PLAN. ONCE A RESERVE FORCE MEMBER BECOMES A CONTRIBUTOR UNDER THE REGULAR FORCE PLAN, HE/SHE WILL REMAIN A CONTRIBUTOR UNDER THAT PLAN EVEN IF NO LONGER WORKING FULL-TIME. A BENEFIT ADJUSTMENT WILL BE APPLIED TO THE PENSION FORMULA TO TAKE INTO ACCOUNT CALENDAR YEARS DURING WHICH THE CONTRIBUTOR WORKED PART-TIME AND/OR OPTED TO PAY FOR LESS THAN THE FULL COST WHEN AN ELECTION WAS MADE TO COUNT PAST SERVICE. GENERALLY RESERVE FORCE CONTRIBUTORS WILL BE ABLE TO PAY THE COST TO ELECT ALL PAST RESERVE FORCE SERVICE UNDER THE SAME RULES AS WILL APPLY TO REGULAR FORCE MEMBERS WHO BECOME CONTRIBUTORS ON OR AFTER 1 MAR 07. PLEASE REFER TO PARA 11 FOR FURTHER INFORMATION ON DETERMINING THE COST OF COUNTING PAST RESERVE SERVICE
8. COVERAGE UNDER THE RESERVE FORCE PENSION PLAN (RFPP) : MEMBERS OF THE RESERVE FORCE WHO WORK ON A PART-TIME BASIS MAY BE ELIGIBLE TO PARTICIPATE IN THE RFPP
9. MANY OF THE MAIN ELEMENTS UNDER THE RFPP ARE SIMILAR TO THE REGULAR FORCE PLAN INCLUDING VESTING WITH TWO YEARS OF PENSIONABLE SERVICE, ELIGIBILITY THRESHOLDS AND RANGE OF BENEFITS AVAILABLE, DEFINITIONS OF SPOUSE AND DEPENDENT CHILDREN, AND ANCILLARY BENEFITS SUCH AS SURVIVOR ALLOWANCES AND THE PROVISIONS FOR ANNUAL COST OF LIVING INDEXING
10. PLAN MEMBERSHIP: MEMBERS OF THE RESERVE FORCE WILL BECOME PARTICIPANTS UNDER THE RFPP ONCE THEY HAVE SERVED FOR TWO CONTINUOUS PERIODS OF TWELVE MONTHS AND HAVE IN EACH OF THOSE PERIODS EARNINGS OF AT LEAST 10 (PERCENT) OF THE APPLICABLE YEARS MAXIMUM PENSIONABLE EARNINGS UNDER THE CANADA PENSION PLAN. A MEMBER WHO IS SERVING IN THE RESERVE FORCE ON 1 MAR 07 WILL BE ABLE TO COUNT THE SERVICE OCCURRING ON OR AFTER 1 APR 99 TO MEET THE MEMBERSHIP THRESHOLDS. DIRECTOR ACCOUNTS PROCESSING, PAY AND PENSIONS (DAPPP) PENSION SERVICES WILL PROVIDE WRITTEN NOTIFICATION UPON ACHIEVING PARTICIPANT STATUS
11. COUNTING OF PAST SERVICE: MEMBERS WILL HAVE THE OPPORTUNITY TO ELECT TO PAY THE AMOUNT REQUIRED TO COUNT ALL PAST RESERVE SERVICE. MEMBERS MAY UTILIZE THE RESERVE FORCE BUYBACK CALCULATOR LOCATED AT HTTP://WWW.ADMFINCS.FORCES.GC.CA/PENSION/INTRO(UNDERSCORE)E.ASP TO ESTIMATE THEIR COST TO PURCHASE PREVIOUS RESERVE FORCE EARNINGS. THE CALCULATOR WILL CAPTURE EARNINGS AND PROVIDE AN ESTIMATE OF THE COST OF AN ELECTION EITHER UNDER THE RESERVE FORCE PENSION PLAN OR THE REGULAR FORCE PLAN. A RESERVE MEMBER WILL REQUIRE A MINIMUM OF TWO YEARS OF SERVICE TO JOIN THE PLAN AND A FURTHER TWO YEARS BEFORE HE/SHE CAN PURCHASE PREVIOUS EARNINGS (MINIMUM FOUR YEARS). ON 1 MAR 07 RESERVE FORCE MEMBERS MAY COUNT SERVICE BACK TO 1 APR 99 TO MEET THESE REQUIREMENTS. RESERVE FORCE MEMBERS WILL RECEIVE A LETTER WHEN THEY ARE ELIGIBLE TO PAY THE COST ASSOCIATED WITH BUYING PREVIOUS EARNINGS/SERVICE
12. A PERSON ENROLLED IN ANY COMPONENT OF THE RESERVE FORCE (PRIMARY RESERVE, SUPPLEMENTARY RESERVE, CADET INSTRUCTOR CADRE, CANADIAN RANGERS) IS ELIGIBLE TO BECOME A PARTICIPANT UNDER THE RFPP PROVIDED EARNINGS AND SERVICE THRESHOLDS ARE MET
13. MEMBER CONTRIBUTION RATES: PARTICIPANTS UNDER THE RFPP WILL BE REQUIRED TO CONTRIBUTE AT THE FOLLOWING RATES: 4.3 (PERCENT) OF EARNINGS IN 2007, 4.6 (PERCENT) IN 2008, 4.9 (PERCENT) IN 2009, AND 5.2 (PERCENT) IN 2010 AND THEREAFTER. RESERVISTS ON THE FULL TIME PLAN WILL PAY THE SAME RATES AS REG FORCE MEMBERS. SEE THE CFPMP WEBSITE FOR DETAILS
14. RFPP BASIC PENSION CALCULATION: THE BENEFIT FORMULA UNDER THE RFPP WILL BE BASED ON A MEMBER S UPDATED CAREER EARNINGS. THE BASIC ANNUAL BENEFIT WILL BE 1.5 (PERCENT) OF THESE EARNINGS. THE UPDATING FEATURE ALLOWS FOR ANNUAL EARNINGS TO BE ADJUSTED IN ACCORDANCE WITH A WAGE INDEX REFLECTING THE MOVEMENT OF MILITARY PAY. IN ADDITION, THERE WILL BE A SUPPLEMENTAL BENEFIT OF 0.5 (PERCENT) OF UPDATED CAREER EARNINGS (TO THE LIMIT OF THE CPP MAXIMUM EARNINGS) WHICH WILL BE PAYABLE FROM RETIREMENT UNTIL AGE SIXTY-FIVE (OR EARLIER IF A C/QPP DISABILITY BENEFIT BECOMES PAYABLE). AT THIS POINT THE SUPPLEMENTAL BENEFIT WILL CEASE
15. RESERVE FORCE RETIREMENT GRATUITY (RFRG) - PRIOR TO 1 MAR 07, THE FORMULA FOR CALCULATING THE LUMP-SUM AMOUNTS PAYABLE UNDER THE RFRG RECOGNIZED SERVICE BASED ON ELAPSED TIME RATHER THAN ACTUAL PERIODS OF PAID SERVICE. THIS FEATURE REFLECTED THE ABSENCE OF A PENSION PLAN FOR RESERVISTS. BENEFITS FOR SERVICE ON OR AFTER 1 MAR 07 WILL BE CALCULATED ON THE BASIS OF PAID SERVICE. FOR THE PURPOSES OF DETERMINING PAID SERVICE, EACH DAY OF CLASS A SERVICE WILL COUNT AS 1.4 DAYS OF PAID SERVICE AND EACH DAY OF CLASS B OR C SERVICE WILL COUNT AS 1 DAY OF PAID SERVICE. BENEFITS FOR SERVICE PRIOR TO 1 MAR 07 WILL CONTINUE TO BE CALCULATED ON THE BASIS OF ELAPSED TIME. GENERALLY, THE CALCULATION OF BENEFITS UNDER THE RFRG AFTER 1 MAR 07 WILL CONSIST OF THE NUMBER OF FULL YEARS OF ELIGIBLE ENROLMENT PRIOR TO CIF ADDED TO THE NUMBER OF FULL YEARS OF PAID SERVICE POST CIF. THE TOTAL PERIOD OF ELIGIBLE ENROLMENT WILL BE USED TO DETERMINE ELIGIBILITY FOR BENEFITS
16. THE PENSION MODERNIZATION WEBSITE AT HTTP://WWW.FORCES.GC.CA/HR/DGCB/CFPMP/ WILL BE REVISED TO REFLECT POLICY AND ITS IMPACT ON REGULAR FORCE AND RESERVE FORCE PERSONNEL, INCLUDING REGULAR FORCE ANNUITANTS. ADMINISTRATIVE DETAIL WILL BE AVAILABLE AT DAPPP PENSION SERVICES WEBSITE AT HTTP://WWW.ADMFINCS.FORCES.GC.CA/PENSION/INTRO(UNDERSCORE)E.ASP. CMP AND PENSION SERVICE STAFF WILL BE VISITING MAJOR CENTRES ACROSS THE COUNTRY TO BRIEF ON THE NEW CFSA PROVISIONS AND THE ADMINISTRATIVE DETAILS
17. AS THE DEPARTMENTAL PENSION ADMINISTRATOR, DAPPP PENSION SERVICES WILL BE THE PRIMARY POINT OF CONTACT FOR INFORMATION ON BOTH REGULAR FORCE AND RESERVE FORCE PENSION ARRANGEMENTS. COMMENCING 1 MAR 07, YOU MAY EMAIL THE ADDRESSES BELOW CONCERNING THE FOLLOWING TOPICS:
A. PRIOR SERVICE ELECTIONS - PRIORPENSIONABLESERVICEARREARS(AT SIGN)FORCES.GC.CA
B. BENEFITS - PENSIONINQUIRIES(AT SIGN)FORCES.GC.CA
C. ELIGIBILITY - ELIGIBILITYCC(AT SIGN)FORCES.GC.CA AND
D. PENSION POLICY - CFPMP(AT SIGN)FORCES.GC.CA CALL CENTRES WILL BE OPERATIONAL EFFECTIVE 1 MAR 07. THE TOLL FREE NUMBER FOR PENSION SERVICES IS 1-800-267-0325. THOSE INSIDE THE NATIONAL CAPITAL REGION SHOULD CALL 613-996-7980. CALL CENTRE CAPACITY WILL BE LIMITED FOR THE ANTICIPATED INITIAL VOLUME. MEMBERS ARE THEREFORE REQUESTED TO USE THE EMAIL FACILITIES AS A FIRST RESORT
18. SOME TWENTY THREE THOUSAND CF MEMBERS WILL BE ADDED TO OUR PENSION ARRANGEMENTS ON 1 MAR 07. IT IS EXPECTED THAT IN EXCESS OF SEVEN THOUSAND PERSONNEL WILL BE ELIGIBLE TO ELECT PRIOR RESERVE FORCE TIME. YOUR UNDERSTANDING AND PATIENCE IS REQUESTED AS RESPONSIBLE AUTHORITIES DEAL WITH THE INITIAL DEMAND FOR SERVICE AND PROVISION OF MEMBER-SPECIFIC INFORMATION
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CANFORGEN 003/07 CDS 001/07 041155Z JAN 07
PENSION MODERNIZATION - SITREP
UNCLASSIFIED
REFERENCES: A. CANFORGEN 176/05 ADM(HR-MIL) 092 241255Z NOV 05
B. CANFORGEN 121/05 CDS 060/05 071600Z JUL 05
1. THE PURPOSE OF THIS MESSAGE IS TO PROVIDE AN UPDATE TO ALL CF MEMBERS ON THE STATUS OF CF PENSION MODERNIZATION
2. REF A ANNOUNCED THAT IMPLEMENTATION OF ALL NEW PENSION ARRANGEMENTS WAS TARGETTED FOR 1 MAR 07. DND/CF LEADERSHIP IS STILL COMMITTED TO THAT DATE. TREASURY BOARD APPROVAL WILL BE SOUGHT IN EARLY FEB 07, TO APPROVE REGULATIONS THAT WILL SUPPORT THE MODERNIZATION OF CURRENT PENSION ARRANGEMENTS AND ESTABLISH THE RESERVE FORCE PENSION PLAN EFFECTIVE 1 MAR 07
3. THE KEY ELEMENTS OF THE RESERVE FORCE PENSION PLAN AND AMENDMENTS TO THE RESERVE FORCE RETIREMENT GRATUITY FOR POST PENSION PLAN IMPLEMENTATION SERVICE ARE DETAILED AT REF B
4. ON 14 DEC 06, TREASURY BOARD MINISTERS APPROVED THE FIRST OF THE MODERNIZATION REGULATIONS. STARTING 1 JAN 07, ALL RESERVE FORCE EMPLOYMENT WILL BE SUBJECT TO THE CANADA PENSION PLAN (CPP). SPECIFICALLY, ALL RESERVE FORCE MEMBERS WHOSE ANNUAL EARNINGS ARE ABOVE THE YEAR S BASIC EXEMPTION SET UNDER THE CPP (CURRENTLY 3,500 DOLLARS ANNUALLY), WILL CONTRIBUTE TO THE CPP ON THE SAME BASIS AS ANY OTHER CANADIAN WORKER EARNING ABOVE THE BASIC EXEMPTION, REGARDLESS OF THE NATURE OR THE LENGTH OF THE RESERVE SERVICE. ADDITIONAL INFORMATION ON RESERVE CPP CONTRIBUTIONS WILL BE AVAILABLE SHORTLY ON THE CFPMP WEBSITE AT HTTP://WWW.FORCES.GC.CA/HR/DGCB/CFPMP/. QUESTIONS ON ACTUAL DEDUCTIONS AFTER 1 JAN 07 SHOULD BE DIRECTED TO YOUR UNIT PAY CLERK
5. FOLLOWING APPROVAL BY TREASURY BOARD MINISTERS OF PENSION MODERNIZATION REGULATIONS, DIRECTOR ACCOUNTS PROCESSING PAY AND PENSIONS (DAPPP) PENSIONS SERVICES WILL BE NOTIFYING ALL RESERVE FORCE MEMBERS WHO HAVE MET ELIGIBILITY THRESHOLDS FOR PARTICIPATION IN CF PENSION ARRANGEMENTS. RESERVE FORCE MEMBERS WILL ALSO BE ADVISED WHEN THEY ARE ELIGIBLE TO ELECT TO COUNT PRIOR RESERVE FORCE PERIODS FOR PENSION PURPOSES. WEB BASED CALCULATORS WILL BE AVAILABLE FOR MEMBERS TO ESTIMATE THE COST OF PURCHASING PREVIOUS EARNINGS AND FORECAST FUTURE BENEFITS
6. CALL CENTRES ARE BEING READIED TO ANSWER GENERAL PENSION QUERIES AS WELL AS QUESTIONS ON BOTH ELIGIBILITY AND ELECTIONS. YOU WILL BE ADVISED OF TELEPHONE NUMBERS ONCE FINAL APPROVAL OF PENSION MODERNIZATION INITIATIVES IS RECEIVED
7. ADDITIONAL INFORMATION WILL BE DISTRIBUTED EARLY IN THE NEW CALENDAR YEAR (2007) THROUGH THE CHAIN OF COMMAND, THE CFPMP WEBSITE AND THE ADM FIN CS PENSION WEBSITE AT HTTP://WWW.ADMFINCS.FORCES.GC.CA/PENSION/INTRO(UNDERSCORE)E.ASP
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