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Forty-Sixth Annual Report of the Business Done in Pursuance of the Pension (Public Service) Act YEAR… British Columbia. Legislative Assembly 1982

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 PROVINCE OF BRITISH COLUMBIA
Forty-sixth Annual Report
of the Business Done in Pursuance of the
Pension
(Public Service)
Act
YEAR ENDED MARCH 31
1981
Victoria, 1982
Queen's Printer for British Columbia '
ISSN 0228-7390
  To: The Honourable Henry P. Bell-Irving, D.S.O., O.B.E., E.D.,
Lieutenant-Governor of the Province cf British Columbia
May it please Your Honour:
The undersigned respectfully submits the Report of the business done in
pursuance of the Pension (Public Service) Act during the fiscal year ended March
31, 1981.
EVAN M. WOLFE
Provincial Secretary and
Minister of Government Services
Office of the Provincial Secretary and
Minister of Government Services
Victoria, British Columbia
December 1, 1981
 The Honourable Evan M. Wolfe,
Provincial Secretary and
Minister of Government Services,
Victoria, British Columbia
Sir:
I have the honour to lay before you the Report of the business done in
pursuance of the Pension (Public Service) Act during the fiscal year ended March
31, 1981.
Respectfully submitted,
J. D. RE1D
Superannuation Commissioner
December 1, 1981
 PENSION (PUBLIC SERVICE) ACT
ANNUAL REPORT
Report of the business done in pursuance of the
Pension (Public Service) Act for the fiscal year ended
March 31, 1981
Sections 1, 3, 4, 6, 7, 8, 10, 13, 15, 17, 19, 41—(employee and employer
contributions)—Employee contributions amounted to $55,621,467 made up as
follows:
Compulsory and arrears contributions  54,348,447
Voluntary contributions  886,419
Repayment of refunds for reinstatement  91,818
Purchase of military or other service „.. 294,783
As at March 31, 1981 there were 47,857 active contributors.
Employer contributions amounted $78,503,914 made up as follows:
Minister of Finance—
Compulsory and arrears matching  40,718,549
Reinstatement matching  91,818
Military or other service matching  281,517
2% formula requirements...^  22,188,861
63,280,745
Other Employers—
British Columbia Assessment Authority  1,051,843
British Columbia Buildings Corporation  1,465,623
British Columbia Development Corporation  64,779
British Columbia Ferry Corporation  2,515,576
British Columbia Housing Management Commission 262,115
British Columbia Institute of Technology  1,370,295
British Columbia Petroleum Corporation  31,775
British Columbia Steamship Company  9,230
British Columbia Systems Corporation  739,787
Emergency Health Services :..!.' 893,292
Employees' union and credit unions and associations... 123,694
Liquor Distribution Branch—
$
Compulsory and arrears matching  2,256,017
Military service matching         11,835
2% formula requirements                  ..  1,580,005 3,847,857
Metro Transit Operating Company     2,724,692
Post Secondary Education Councils ^,  37,994
Regional colleges 12. j~ <v . •      10,301
Regional districts  1,609
University of Victoria  1,214
Urban Transit Authority  71,493
15,223,169
5
 6 BRITISH COLUMBIA
Employee and employer contributions were increased by 0.5% of salary
effective October 1, 1980.
Section 11—As at March 31, 1981 deposits with the Treasury at credit of the
Public Service Superannuation Fund amounted to $982,343,070. The investments
held by Treasury on account of the Fund are summarized on Schedule 1. A
comparative summary of investment transactions and earnings is attached to this
report.
Section 12—Net income from investments earned by the Fund during the year
amounting to $81,107,175 after adjustments in respect of losses on sales and
premiums on purchases was received from the Minister of Finance. The distribution
of this amount to the accounts of the Fund includes credits to employee and
employer accounts calculated at 4% per annum for employees entering the Service
subsequent to April 1, 1958 and 5% per annum for those entering the Service prior
to that date on the balance on the accounts at April 1, and October 1, 1976, credits to
employee voluntary accounts at 6% per annum on the balances at April 1, and
October 1, 1976, and credits to Contributory Pensions Account calculated at 5% per
annum, on the balances at April 1, and October 1, 1976 as follows:
$
Employees' Compulsory Contributions Account   11,090,390
Employees' Voluntary Contributions Account         712,005
Employer Matching Contributions Account   11,090,390
Contributory Pensions Account   10,417,463
Special Agreement Account re certain former employees of
B.C. Hydro and Power Authority  1,500
Special Agreement Accounts re certain employees of the
Liquor Distribution Branch  946
Special Agreement Account re certain former employees
of Medical Services Association  3,882
Reserve Account  47,454,724
Unclaimed Monies Account u	
Inflation Adjustment Pension Reserve        335,875
Section 14—All monies received and paid out under the provisions of this Act
are shown in the statement of changes'in fund balance and the assets and liabilities
appertaining to the granting of superannuation allowances are shown in the statement of financial position. These financial statements are attached to this report.
Pursuant to the 1980 amendments to the Act, these financial statements reflect
the creation of an Inflation Adjustment Account for the purpose of financing the
annual cost of living supplementary allowances as described below.
Sections 15, 17, 18, 19, and 20—During the year 710 allowances were
granted as follows:
Normal retirement  620
Total and permanent disability       5
Deferred allowances     31
Dependents upon death in service     54
As at March 31, 1981 there were 993 former contributors with credits in the
Fund who were eligible to apply for deferred superannuation allowances after
attaining the minimum retirement age.
The present value of the 710 allowances granted during the year in the amount
of $54,271,981 was credited to the Contributory Pensions Account from the
following sources:
 PENSION (PUBLIC SERVICE) ACT—ANNUAL REPORT 7
Employees' Compulsory Contributions accumulated $
with interest  11,306,201
Employees' Voluntary Contributions Account  539,935
Employer Matching Contributions Account  11,306,201
Liquor Distribution Branch Reserve Account  1,861,554
Minister of Finance, under sundry statutory
provisions, etc.          22,182,834
Matching amount of refunds of regular contributions
(commencing October 1, 1980)                         6,061,156
College Pension Fund re 2 pensions granted  76,966
Municipal Superannuation Fund re 24 pensions granted  934,200
Teachers' Pensions Fund re 1 pension granted  2,437
Government of Canada Public Service Pension Fund
re 1 pension granted  497
The present value of 1 superannuation allowace granted during the year under
the Legislative Assembly Allowances and Pension Act, in the amount of $ 110,163
was also credited to the Contributory Pensions Account.
Section 16—Transfers totalling $2,444,810 were received from 9 reciprocal
pension funds in respect of 28 contributors upon grant of allowance and in respect of
90 contributors following transfer of service as follows:
Upon grant of allowance— $
College Pension Fund  2 76,966
Municipal Superannuation Fund  24 934,200
Teachers' Pensions Fund :  jc_i ? 1 2,437
Government of Canada, Public Service
Pension Account „.,  1 497
During service—
Government of Canada Public Service
Pension Account        50 903,837
B.C. Hydro and Power Authority
Pension Fund  3 34,183
Canada Mortgage and Housing
Corporation Pension Fund  1 5,108
Province of Alberta Public Service
Pension Fund        24 308,061
Province of Manitoba Civil Service
Superannuation Fund j^  9 136,086
Province of Ontario Public Service
Superannuation Fund u.... 3 43,435
By special arrangement, Crown Life Insurance Company reimbursed the Fund
amounts totalling $167,485 representing that portion of the superannuation allowances received by former employees of the Liquor Distribution Branch that had
been purchased from the Company prior to August 1, 1961.
Transfers totalling $553,065 were made to 7 reciprocal pension funds in
respect of 12 contributors upon grant of allowance and in respect of 14 contributors
following transfer of service.
 8 BRITISH COLUMBIA
Upon grant of allowance— $
College Pension Fund  1 357,653
Municipal Superannuation Fund  4 52,876
Workers' Compensation Board
Superannuation Fund  1 39,012
During service—
Government of Canada Public Service
Superannuation Account  3 25,777
B.C. Hydro and Power Authority
Pension Fund  1 6,005
Municipal Superannuation Fund  8 57,391
Province of Alberta Public Service
Pension Fund  1 10,630
Teachers' Pensions Fund  1 3,721
Sections 18 (7), 22 and 23—Refunds totalling $12,248,437 were granted in
respect of 4,285 former contributors as follows:
$
Resignations  4,075    10,869,292
Death in service..        77 385,314
Excess and voluntary contributions on grant
of allowance      133 993,831
Of the refunds granted upon resignation, no former contributors were eligible
to receive a superannuation allowance immediately and 71 were entitled to leave
their credits in the Fund in order to receive a deferred superannuation allowance
after attaining the minimum retirement age.
Refunds totalling $4,503,644 were paid to the Province of British Columbia in
respect of the matching amount of refunds of regular contributions.
Section 27—Administration expenses amounting to $558,313 were paid from
Consolidated Revenue Fund.
Section 30—An actuarial valuation was carried out as at March 31, 1980.
The valuation indicates an increase in the unfunded liability in respect of basic
pension benefits from about $197,563,000 as of March 31, 1977 to about
$631,172,000 as of March 31, 1980.
In the opinion of the actuary, projected statutory employer contributions are
sufficient to amortize fully the above unfunded liability in approximately 30 years
from March 31, 1980, assuming all actuarial assumptions are realised.
Section 42—Cost of living supplements totalling $11,451,709 were charged
to Contributory Pensions Account. After the January 1, 1981 adjustment, quarterly
increases were replaced by annual increases, the first of which will be paid January
1, 1982. The annual increases are tied to the consumer price index and are payable
to the extent that the capitalized value is available in the Inflation Adjustment
Account. For this purpose are allocated to the Inflation Adjustment Account
employee and employer contributions each at the rate of 1.25% of salary and
interest earnings attributable to funds held for the payment of superannuation
allowances in excess of the rate assumed by the actuary.
Comparative, statistical and detail schedules of contributions, refunds and
allowances granted and in force at the year end are attached to this report.
Sections 43, 44, 45 and 46—Death Benefits Fund claims payments totalling
$93,800 and sources of funds therefor are summarized in a schedule attached to this
report.
 PENSION (PUBLIC SERVICE) ACT—ANNUAL REPORT 9
LEGISLATION
The Pension (Public Service) Act was amended at the 1981 session of the
Legislature. The amendment made the investment powers of the Minister of
Finance in respect of the Public Service Superannuation Fund the same as those in
respect of a trust fund under section 36 (2) of the Financial Administration Act.
When proclaimed, this section will have the effect of broadening investment powers
to permit investment in additional types of securities such as are issued by the
Municipal Finance Authority of British Columbia, commercial paper of Canadian
corporations, corporate bonds and preferred shares, and first mortgages, subject to
specified conditions as to the security of the investment and the status of the issuer.
J. D. REID
Superannuation Commissioner
 10 BRITISH COLUMBIA
Exhibit A
PUBLIC SERVICE SUPERANNUATION FUND
STATEMENT OF FINANCIAL POSITION
AS AT MARCH 31. 1981
1981 1980
ASSET $ $
Deposits in Treasury (Schedule 1) (Note 2)    982,343,070       823,384,647
FUND BALANCE
Basic Account     969,738,440 823,384,647
Inflation Adjustment Account       12,604,630
Exhibit B     982,343,070        823,384,647
The five accompanying notes are an integral part of these financial statements.
Approved by:
J. D. REID, EC.I.A.
Superannuation Commissioner
C. WEBSTER, C.A.
Comptroiler, Superannuation Commission
 PENSION (PUBLIC SERVICE) ACT—ANNUAL REPORT 11
Exhibit B
PUBLIC SERVICE SUPERANNUATION FUND
STATEMENT OF CHANGES IN FUND BALANCE
FOR THE YEAR ENDED MARCH 31. 1981
1981 1980
Fund Balance Increased By: $ $
Contributions:
Employees:
Regular  54,348,447 44,547,242
Voluntary  886,419 1,268.971
Reinstatement  91,818 74,775
Military service  294,783 412.869
55,621,467  15,46,303,857
Employer:
Province of British Columbia       63,280,745 59,860,776
Other employers       15,223,169 11,164,708
78,503,914 71,025,484
Transfers from other funds        2,612,295 5,121.804
Less transfers to other funds           553,065 1,211,818
2,059,230 3,909,986
Transfers from Members of the Legislative Assembly
Superannuation Account _.._ 110,163 711,656
Net income from investments received from
Minister of Finance       81,107,175 63,931,846
217,401,949        185,882,829
Fund Balance Decreased By:
Superannuation allowance payments:
Contributory «...       30,239,736 25,582,534
Cost of living supplements       11,451,709 8,615.903
41,691,445 34,198,437
Refunds:
Employees _       12,248,437 8.727,191
Province of British Columbia        4,503,644 7,490,209
16.752,081 16,217.400
58,443,526 50,415,837
Net Increase in Fund Balance    158,958,423 135.466,992
Fund Balance at Beginning of Year    823,384,647 687.917,655
Fund Balance at End of Year    982,343,070 823,384,647
 12 BRITISH COLUMBIA
PUBLIC SERVICE SUPERANNUATION FUND
NOTES TO FINANCIAL STATEMENTS
MARCH 31, 1981
1. Actuarial Valuation
According to the Pension (Public Service) Act, an actuarial valuation of the assets and liabilities
of the Fund is required to be made by an Actuary at least once in each consecutive period of not more
than five years. The most recent valuation was carried out as at March 31, 1980.
The valuation indicates an increase in the unfunded liability in respect of basic pension benefits
from about $197,563,000 as of March 31. 1977 to about $631,172,000 as of March 31, 1980. The
1977 amount of $197,563,000 would have been stated as $234,295,000 on the current basis since the
actuary has changed his assumptions to include cost-of-living increases in the basic pensions as a
result of the legislative changes which occurred in 1980. These increases were not included in the
liability in previous valuations.
In the opinion of the Actuary, projected statutory employer contributions are sufficient to
amortize fully the above unfunded liability in approximately 30 years from March, 1980, assuming all
actuarial assumptions are realised.
2. Deposits in Treasury
All contributions to the Fund are deposited in the Provincial Treasury and administered by the
Minister of Finance, who has invested available moneys in the various securities listed in Schedule 1.
These investments are carried at the lower of cost and par value, with "cost" defined as acquisition
costs adjusted as follows:
(i) Premiums are written off in the year of acquisition.
(ii) Discounts on single maturity bonds are recognized as income upon redemption,
(iii) Discounts on serial bonds are recognized as income when the final redemption occurs.
Investments held at the end of the year are as follows:
1981 1980
S $
Par Value     955,207.381        739,848,760
Book Value     952,384,223       738,872,075
Market Value    778,070.190       562,560,962
The difference between the book value and market value of the investments has not been provided
for as at March 31,1981, since it is generally expected that Fund investments will be held to maturity.
The net income from these investments is accounted for on a cash basis. Accordingly, accrued
interest receivable at the end of the year has not been recorded in these financial statements.
3. Urban Passenger Transportation Employees
As of April 1,1980, urban transportation services were transferred from British Columbia Hydro
and Power Authority to Metro Transit Operating Company.
The pension rights of approximately 3,000 employees, including appropriate pension funds, are
to be transferred from the British Columbia Hydro and Power Authority Pension Fund to the Public
Service Superannuation Fund. This transfer had not been finalized and thus no recognition of the
transfer of fund assets has been made in the accompanying statement of financial position as at March
31, 1981.
4. Legislative Changes
The provisions of the Pension (Public Service) Act related to payment and financing of supplementary allowances were amended at the 1980 session of the Legislature. The significant provisions
were-
(1) An increase of 0.5% of salary in employee and employer contributions.
(2) Annual, rather than quarterly, cost of living supplementary allowances, payable to the
extent that moneys equal to the capitalized value are available in the Inflation Adjustment
Account created for the purpose.
(3) Allocation of employee and employer contributions each amounting to 1.25% of salary to
the Inflation Adjustment Account.
 PENSION (PUBLIC SERVICE) ACT—ANNUAL REPORT 13
PUBLIC SERVICE SUPERANNUATION FUND
NOTES TO FINANCIAL STATEMENTS
MARCH 31,1981 —Continued
5. Additional Information
The Fund balance is divided into an Inflation Adjustment Account, to which employee and
employer contributions each at the rate of 1.25% of salary are credited, and a Basic Account, to which
all other contributions are credited. The Fund balance for the year ended March 31, 1980 has been
restated accordingly.
These financial statements show only the position of the Fund as at March 31, 1981 and the
changes in Fund balance for the year then ended and do not purport to show the adequacy of the Fund to
meet the obligations of the superannuation plan.
 14 BRITISH COLUMBIA
PUBLIC SERVICE SUPERANNUATION FUND
SCHEDULE 1
Deposits in Treasury as at March 31, 1981
Cash and securities held by the Province of British Columbia—
Par Book Market
Value Value Value
Funds held in General Fund cash and short-term
S $
investment accounts     29,958,847     29,958,847     29,958,847
Investments >
Short term investments—
Term deposits with chartered banks     60,232,105     60,232,105     60,232,105
Canada Treasury Bills       1,825,805        1,825,805        1,825,805
Demand Notes with Crown Corporations
B.C. Development Corporation     56,000,000     56,000,000     56,000,000
B.C. Hydro and Power Authority     14,100,000      14,100,000      14,100,000
B.C. Place     42,725,000     42,725,000     42,725,000
B.C. Steamship Company (1975) Ltd.      3,000,000       3,000,000       3,000,000
B.C. Urban Transit Authority    20,000,000     20,000,000     20,000,000
Bonds and debentures—
Government of Canada     36,906,000     31,312,662     28,979,686
Government of Canada guaranty—
Export Development Corporation     25,000,000     25,000,000     25,000,000
Province of British Columbia   102,386,999    102,350,995      89,090,007
Province of Ontario       1,025,000 846,390 738,000
Province of Quebec       1,501,000        1,482,745        1,330,611
Province of Saskatchewan      9,786,000       9,588,535       7,144,454
Province of British Columbia guaranty—
B.C. Hydro and Power Authority  376,549,250   370,619,106   254,294,806
B.C. Railway Company     89,380,000      89,082,939      69,548,190
B.C. Educational Institutions
Capital Financing Authority       1,025,000        1,025,000 864,844
B.C. Regional Hospital Districts
Capital Financing Authority     10,000,000        8,046,750        6,381,250
B.C. School Districts Capital
Financing Authority     19,246,900      17,555.166      13,216,547
B.C. improvement districts     11,620,800      11,157,767        8,293,305
B.C. municipalities       2,781,722        2,670,264        2,143,356
B.C. school districts         425,800 290,175 382,761
Municipal Finance Authority of British
Columbia     12,705,000      12,637,663      11,746,363
Province of Manitoba guaranty—
Manitoba Hydro-electric Commission.        296,000 275,650 201,280
Manitoba Telephone Systems  70.000 63,700 42,000
Province of New Brunswick guaranty—
New Brunswick Electric Power
Commission       1,595.000        1,595,000        1,142,419
Province of Newfoundland guaranty—
Newfoundland and Labrador Hydroelectric Corporation  700,000 694,750 493,500
Newfoundland Municipalities Capital
Financing      5,000,000       4,975,000       3,637,500
Province of Nova Scotia guaranty—
Nova Scotia Power Corporation       2,347,000       2,224,404        1,562,005
Province of Ontario guaranty—
Ontario Hydro-electric Power
Commission    43,776,000     42,760,609     30,263,146
Province of Quebec guaranty—
Quebec Hydro-electric Commission....     3,201,000       3,199,277       2,433,428
 PENSION (PUBLIC SERVICE) ACT—ANNUAL REPORT |
PUBLIC SERVICE SUPERANNUATION FUND
SCHEDULE I—Continued
Deposits in Treasury as at March 31, 1981
Cash and securities held by the Province of British Columbia—
Par Book Markel
Value Value Value
Shares— $ $ $
Bank of B.C. (59,564)  1,424,131        2,635.707
British Columbia Telephone Company
(1,215,844)  — 13,575,779      18,541,621
Canadian Pacific Limited (1,200)  19.800 58.350
Imperial Oil Limited (300)  12,712 9,938
International Nickel Company of
Canada Ltd (450)  — 14,344 12,206
955,207,381    952,384,223    778,070,190
985,166,228    982,343,000    808,029,037
 16
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:<£-£uj S
 BRITISH COLUMBIA
PUBLIC SERVICE SUPERANNUATION FUND
Comparative Statistics, April 1, 1951 to March 31, 1981
Subdivided According to Sex of Contributor
Fiscal Year
Number ol
Contributors
Number of
Refunds
Granted
Number of
Allowances
Granted
Number of
Deaths and
Expirations
Number of
Allowances
in force at
End of Year
■ Male
Female
Male
Female
Male
Female
Male
Female
Male
Female
1951/52	
6.407
7,737
234
10.586
228
13.708
352
17.144
712
17,834
861
19.095
927
21.879
1.227
24,031
1.503
23.518
1.558
26.640
1.600
25.807
1.686
26.670
1.577
28.538
1.661
3.152
3.357
316
4.110
216
6.181
347
7.581
812
7.778
943
8.841
958
11.348
1.262
13.495
1.463
14,281
1,412
15.964
1.495
17.213
1.557
19.507
1.456
19.319
1,979
1.053
774
763
779
676
943
859
1.339
1.380
1.522
1.529
2,032
1.758
1,736
2.134
2.315
86
101
86
168
228
286
294
303
307
364
387
487
471
484
11
3
23
46
109
114
140
118
136
144
177
199
223
225
31
34
49
72
74
82
71
85
21
69
74
81
26
89
4
5
8
1
7
13
8
17
26
22
40
26
52
62
1.028
1.339
1.571
1,958
2.611
2.815
3.058
3.256
3.542
3,837
4.150
4.556
5.010
5.405
107
1956/57	
Non-active
1961/62	
137
179
Non-active
1966/67	
Non-active
1971/72	
1
1
1
1
1
1
1
1
1
1
283
075
428
483
401
121
549
223
174
722
304
Non-active
1972/73	
Non-active
1973/74	
Non-active
1974/75	
709
841
Non-active
1975/76	
Non-active
1976/77	
Non-active
1977/78	
Non-active
1978/79	
1.174
1.311
Non-active
1979/80	
Non-active
1980/81 	
1.646
1.809
Non-active
wit remains at credit.
 PENSION (PUBLIC SERVICE) ACT—ANNUAL REPORT
PUBLIC SERVICE SUPERANNUATION FUND
Normal Allowances Granted April 1, 1980 to March 31, 1981
SUBDIVIDED BY YEARS OF SERVICE AND VALUE OF ALLOWANCE
Average
Average
Number of
Salarv
Annual
Average
Average
Average
Years of Service
Allowances
During
Alowance
Value of
Employee
Government
Granted
Last
Five Years
on Single
Life Plan
Allowance
Share
Share
S
S
S
$
s
Under 10 years	
17
17.452
1.746
20.966
7.052
13.913
157
118
18.037
17,686
3.284
4.977
34.204
50.716
9.776
13.016
24.428
15-19 ;	
37.699
20-24	
110
19.379
7.322
74.972
17.779
57.196
25-29	
72
21.340
10.206
103.439
23.412
80,022
30-34	
73
21.943
12.511
127.249
25.203
102.046
35 and over	
73
23.284
14.694
152.947
26.936
126.011
Average of Normal Allowances Granted During Year:
62
Age
Total Value of Normal Allowances Granted During Year:
620 12.115.506      4.750.765       48.706.140       10.863.154      37,842,986
 BRITISH COLUMBIA
PUBLIC SERVICE SUPERANNUATION FUND
Normal Allowances Granted April 1, 1980 to March 31, 1981
GRANTED TO FORMER CONTRIBUTORS WHOSE MAXIMUM RETIREMENT AGE WAS 65
Age
jfRe
irement
Total
Years of
Service
Under
55
55
56
57
58
59
60
61
62
63
64
65
Per
Cent
1
3
3
2
4
6
3
El
4
7
2
4
3
2
2
2
1
3
6
1
7
3
3
6
2
21
15
14
11
18
15
10
5
9
5
6
4
1
6
8
10
3
4
4
1
3
7
6
3
3
2
10
5
7
3
4
5
8
81
73
39
24
24
20
16
149
118
103
65
70
72
3
25
15-19	
20
20-24	
25-29	
30-34	
35 and over	
17
11
12
12
Total	
21
21
9
17
26
96
39
36
23
36
269
593
3
3
2
3
4
16
7
6
4
6
46
100
GRANTED TO FORMER CONTRIBUTORS WHOSE MAXIMUM RETIREMENT AGE WAS 60
Age of Retirement
Total
Years of
Service
Under
50
50
51
52
53
54
55
56
57
58
59
60
Per
Cent
1
1
I
i
1
1
1
1
7
6
5
1
1
8
7
7
3
1
10-14	
15-19	
20-24	
25-29	
30-34	
26
26
11
4
Total	
1
3
1
2
20
27
Percent	
4
II
-
4
7
74
100
Allowances Other Than Normal Granted April I, 1980 to March 31, 1981
Number of
Allowances
Granted
90
Death
54
Disabilit
5
Deferred
31
 PENSION (PUBLIC SERVICE) ACT—ANNUAL REPORT 21
PENSION (PUBLIC SERVICE) ACT
DEATH BENEFITS FUND
Summary of Claims Paid During Year Ended March 31, 1981
Number Amount
of Claims of Claims Total
$ $
94 500.00 47,000.00
6 600.00 3,600.00
5 700.00 3,500.00
8 800.00 6,400.00
7 900.00 6,300.00
27             1,000.00                27,000.00
147 93,800.00
Summary of Sources of Funds for Year Ended March 31, 1981
$
Contributions by superannuants      56,172.00
Contributions by Government      37,628.00
93,800.00
4,864 superannuants were contributing as at March 31, 1981.
 22 BRITISH COLUMBIA
PUBLIC SERVICE SUPERANNUATION FUND
Approved and Reciprocal Employers as at March 31, 1981
Approved Employers
Section 18 (4) (a) provides for the granting of a deferred allowance to a contributor who within three years after making his last contribution to the Fund enters the
service of one of the following employers and becomes entitled to an allowance—
Effective Date
B.C. Central Credit Union December 4, 1974
B.C. Railway Company June 10, 1963
City of Calgary July 13, 1972
Government of Canada   June 24, 1955
Legislative Assembly of the Province of British Columbia June 10, 1963
Pacific Press Limited July 14, 1960
University of British Columbia August 20, 1962
University of Victoria December 21, 1970
Pacific Coach Lines (formerly Vancouver Island Coach Lines) April 1, 1979
Simon Fraser University September 18, 1980
Special Agreement with Approved Employers
Section 38 (4) provides for the transfer of funds in respect of an employee who
following termination of service transfers to or from one of the following approved
employers and makes application for such transfer of funds in accordance with the
terms of the agreement—
B.C. Hydro and Power Authority September 14, 1970
Central Mortgage and Housing Corporation March 6, 1975
Government of Canada June 24, 1955-
Province of Alberta October 19, 1976
Province of Alberta—Management Positions May 5, 1977
Province of Manitoba February 17, 1975
Province of New Brunswick December 11, 1974
Province of Newfoundland September 23, 1980
Province of Ontario August 4, 1971
Province of Prince Edward Island March 1, 1979
Province of Saskatchewan May 2, 1977
Reciprocal Employers
Section 16 provides for the method of determining pensionable service and
highest average salary together with pro-rata sharing of the present value of the
allowance and transfer of funds in respect of an employee who within three years of
termination of his service transfers to or from the service of the following reciprocal
employers—
An employer under the Pension (College) Act April 1, 1973
An employer under the Pension (Municipal) Act April 1, 1973
An employer under the Pension (Teachers) Act April 1, 1973
Workers' Compensation Board June 5, 1974
 PENSION (PUBLIC SERVICE) ACT—ANNUAL REPORT
PUBLIC SERVICE SUPERANNUATION FUND
Approved Long-term Disability Salary Continuance Plans as at March 31, 1981
Employer or Plan Effective Date
B.C. Assessment Authority 'di.^..(,..',,>.i..........:.:....:..:. October 14, 1976
B.C. Institute of Technology July 25, 1977
Emergency Health Services Commission January 6, 1978
Metro Transit Operating Company June 10. 1980
Public Service Long-term Disability Plan April 26. 1978
Workers' Compensation Board (Boards of Review) October 10, 1980
Queen's Printer for British Columbia ©
Victoria. 1982

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