Canadian Arsenals Pension Regulations

The Canadian Arsenals Pension Regulations were established on November 16, 1961, under the Public Service Superannuation Act to govern the transfer of pensions for employees of Canadian Arsenals Limited. The regulations outline the rules for employees who elect not to become contributors under the Act and provide for the liquidation of securities formerly held in the Pension Fund. They also specify how benefits are paid out from the Superannuation Account, including pensions for widows and the transfer of staff savings funds. Furthermore, the regulations detail how past service contributions are handled and clarify that periods of service to credit under the Rules of the Pension Fund are considered pensionable service for all purposes of the Act. Overall, these regulations aim to ensure a smooth transition of pension benefits for employees of Canadian Arsenals Limited as they transfer from their existing pension fund to the Superannuation Account.