moved for leave to introduce Bill C-306, an act to amend the Public Service Superannuation Act (annuity following job loss).
Mr. Speaker, I have the honour and pleasure of introducing in the House today a bill entitled an act to amend the Public Service Superannuation Act (annuity following job loss).
The purpose of this bill is to amend the Public Service Superannuation Act in order to address the plight of federal public servants who have lost their jobs after January 1, 1995 as a result of a public service downsizing program.
This bill would allow those public servants who have reached 50 years of age and who have at least 10 years of pensionable service to collect an annual allowance equal to the amount of the deferred annuity without penalty immediately upon losing their job.
In light of the upcoming downsizing program, many public servants will be faced with the possibility of having to raise their families on 50 per cent of their earned pension. This bill would allow these public servants, who must leave the public service through no fault of their own, to receive the full pension they deserve and have earned.
(Motions deemed adopted, bill read the first time and printed.)