GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Pension Benefits Standards Act, 1985 — P-7.01 33
Appeal to Federal Court 33 (1) Where an administrator has served a notice of objection under section 32, the administrator may, (a) within ninety days after the Superintendent has confirmed the action taken as described in subsection 32(1), or (b) after ninety days and before one hundred and eighty days have elapsed after service of the notice of objection and the Superintendent has not notified the administrator that the Superintendent has varied or confirmed the action taken, appeal to the Federal Court for an order as described in paragraph (5)(b). Institution of appeal (2) An appeal to the Federal Court shall be instituted by filing in the Registry of the Court, or by sending by registered mail addressed to it at Ottawa, three copies of a notice of appeal in prescribed form. Registry to transmit copies (3) On receipt of the copies of the notice of appeal referred to in subsection (2), the Registry of the Court shall transmit two copies to the Superintendent. Documents relevant to appeal (4) Forthwith after receiving a copy of the notice of appeal, the Superintendent shall forward to the Registry of the Court copies of all documents relevant to the appeal. Disposal of appeal (5) The Court may dispose of an appeal (a) by dismissing it and ordering the appellant to ensure the compliance of the pension plan to which the appeal relates with this Act and the regulations; or (b) by allowing it and ordering the Superintendent to register the pension plan to which the appeal relates or reinstate the registration of the plan, as the circumstances require, and issue a certificate of registration in respect thereof. Conditions (6) An order made as described in paragraph (5)(b) may include conditions imposed on the appellant that are conditions precedent to the registration or reinstatement of registration of the pension plan to which the appeal relates. R.S., 1985, c. 32 (2nd Supp.), s. 33; 1998, c. 12, s. 21
Pension Benefits Standards Act, 1985 — P-7.01 33.1
Application to Federal Court 33.1 (1) If an administrator, employer or other person has omitted to do any thing under this Act that is required to be done by them or on their part, or contravenes a direction of the Superintendent or a provision of this Act or the regulations, the Superintendent may, in addition to any other action that the Superintendent may take, apply to the Federal Court for an order requiring the administrator, employer or other person to cease the contravention or do any thing that is required to be done, and on such application the Federal Court may so order and make any other order it thinks fit. Appeal (2) An appeal from an order made under subsection (1) lies in the same manner as an appeal from any other order of the Federal Court. 1998, c. 12, s. 22
Pension Benefits Standards Act, 1985 — P-7.01 33.2
Superintendent may bring actions 33.2 (1) In addition to any other action that the Superintendent may take in respect of a pension plan, the Superintendent may bring against the administrator, employer or any other person any cause of action that a member, former member or any other person entitled to a benefit from the plan could bring. Retroactivity (2) Subsection (1) applies in respect of any cause of action regardless of whether it arose before or after the coming into force of this section. 1998, c. 12, s. 22; 2010, c. 12, s. 1818
Pension Benefits Standards Act, 1985 — P-7.01 34
Inspection 34 (1) The Superintendent or any person authorized in writing by the Superintendent for any purpose relating to the administration of this Act may, at any reasonable time, (a) inspect any books, records or other documents, regardless of their physical form or characteristics, relating to a pension plan or to any securities, obligations or other investments in which pension fund moneys are invested; and (b) require the administrator of a pension plan to furnish such information and in such form as the Superintendent deems necessary for the purpose of ascertaining whether or not the provisions of this Act or the regulations have been or are being complied with. Powers of Superintendent (2) The Superintendent has the same powers as those conferred on commissioners under Part II of the Inquiries Act with respect to the taking of evidence, and may delegate those powers. Payment of expenses (3) The fees and expenses of persons appointed on a temporary basis from outside the public service for the purposes of an inspection under paragraph (1)(a), including their fees and expenses related to preparing a report to the Superintendent relating to that inspection, are payable by the pension fund on being approved by the Superintendent. R.S., 1985, c. 32 (2nd Supp.), s. 34; 1998, c. 12, s. 23; 2003, c. 22, s. 225(E)
Pension Benefits Standards Act, 1985 — P-7.01 35
No action against person for withholding, etc. 35 No action lies against any person for withholding, deducting, paying or crediting any sum of money in compliance or intended compliance with this Act or the regulations.
Pension Benefits Standards Act, 1985 — P-7.01 36
Void or, in Quebec, null agreements 36 (1) Where any provision of this Act or the regulations requires an amount to be withheld, deducted, paid or credited, any agreement or arrangement by the person on whom the requirement is imposed not to withhold, deduct, pay or credit that amount is void or, in Quebec, null. Idem (2) Any agreement or arrangement to assign, charge, anticipate or give as security (a) any benefit provided under a pension plan, or (b) any money withdrawn from a pension fund pursuant to section 26 is void or, in Quebec, null. Exception (3) Subsection (2) does not apply to prevent the assignment of a right or interest in a pension benefit, or in a life annuity of the prescribed kind resulting from a transfer or purchase under section 26, if the assignment (a) is ordered by a court pursuant to provincial property law (within the meaning of subsection 25(1)); or (b) is made under subsection 25(4) pursuant to a written agreement. Void or, in Quebec, null agreements (4) Any agreement or arrangement (a) to surrender or commute a benefit, or any right or interest in the benefit, or (b) to surrender or commute benefits payable as a result of a transfer or purchase under section 26 that is inconsistent with the rules set out in subsection 18(1) is void or, in Quebec, null. Exception (5) Subsection (4) does not apply in respect of payments pursuant to paragraph 18(2)(b) or (c). R.S., 1985, c. 32 (2nd Supp.), s. 36; 2000, c. 12, s. 262; 2010, c. 12, s. 1825(E) 2023, c. 26, s. 157
Pension Benefits Standards Act, 1985 — P-7.01 37
Amendments to pension plans 37 (1) Where an amendment to a pension plan may reasonably be regarded as having been made in contemplation of the termination or winding-up of the plan, either immediately or in the future, with a view to avoiding payment of any pension benefit or other benefit for which the plan provided, the amendment is subject to being declared void or, in Quebec, null, in the manner provided in this section. Application and declaration (2) A judge of the Federal Court may, on application to that Court by the Superintendent and after such notice to the administrator of the pension plan as the judge may direct, declare void or, in Quebec, null any amendment to that pension plan that under subsection (1) is subject to being declared void or, in Quebec, null, and thereon, except as otherwise determined on appeal, if any, the amendment shall be deemed to be and always to have been void or, in Quebec, null for all purposes. Proceedings on declaration (3) Where any declaration has been made under subsection (2), except with consent of the Superintendent, no process or proceedings shall be taken or instituted in consequence of that declaration within the time limit for the bringing of any appeal therefrom or while any such appeal remains to be disposed of. R.S., 1985, c. 32 (2nd Supp.), s. 37; 2010, c. 12, s. 1825(E)
Pension Benefits Standards Act, 1985 — P-7.01 37.1
Not statutory instruments 37.1 A direction issued under this Act by the Superintendent with respect to a particular pension plan is not a statutory instrument for the purposes of the Statutory Instruments Act . 1998, c. 12, s. 24
Pension Benefits Standards Act, 1985 — P-7.01 39
been provided or received and the place where it is considered to have been provided or received; (n.5) setting out the requirements under this Act to which subsections 31.1(1) and (2) do not apply; (n.6) authorizing the Superintendent to specify the form of any information — including information in a document — required to be provided to him or her under the regulations, as well as the manner of providing that information; (n.7) respecting the composition of a board of trustees or other similar body referred to in paragraph 7(1)(a); (o) prescribing anything that by this Act is to be prescribed; and (p) generally for carrying out the purposes and provisions of this Act. Classes (2) A regulation made under this Act may be made applicable generally to all pension plans or specifically to one or more classes of pension plans. General or specific application (3) A regulation made for the purposes of subsection 8(4.1) or 9(1), sections 9.11 to 9.15 or subsection 10.1(2) may be made applicable generally to all pension plans or specifically to one or more pension plans. R.S., 1985, c. 32 (2nd Supp.), s. 39; 1998, c. 12, s. 26; 2001, c. 34, s. 76; 2007, c. 35, s. 142; 2010, c. 12, s. 1820, c. 25, ss. 196, 198; 2012, c. 16, s. 89; 2016, c. 7, s. 206 2021, c. 23, s. 190 2022, c. 10, s. 188
Pension Benefits Standards Act, 1985 — P-7.01 39.1
Incorporation by reference 39.1 (1) A regulation made under this Act may incorporate by reference a document produced by a person or body other than the Minister or the Superintendent. Reproduced or translated document (2) A regulation may incorporate by reference a document that the Minister or Superintendent reproduces or translates from a document produced by a person or body other than the Minister or Superintendent, with any adaptations of form or reference that will facilitate its incorporation. Jointly produced document (3) A regulation may incorporate by reference a document that the Minister or Superintendent produces jointly with a provincial or foreign government or government agency for the purpose of harmonizing the regulation with other laws. Scope of incorporation (4) A document may be incorporated by reference as it exists on a particular date or as it is amended from time to time. Defence (5) No person may be convicted of an offence or subjected to a penalty for the contravention of a regulation if a document that is relevant to the offence or contravention is incorporated by reference in the regulation unless it is proved that, at the time of the alleged contravention, the document was reasonably accessible to the person or reasonable steps had been taken to ensure that the document was accessible to the public. Registration and publication (6) For greater certainty, a document that is incorporated by reference in a regulation is not required to be transmitted for registration or published in the Canada Gazette by reason only that it is incorporated by reference. Exception (7) A regulation that is specifically applicable to one pension plan or one employer may not incorporate by reference a document produced by the employer or administrator or any person related to either of them, including any body corporate that — within the meaning of subsections 2(2), (4) and (5) of the Canada Business Corporations Act — is affiliated with either of them or is the holding body corporate or a subsidiary of either of them. 2010, c. 12, s. 1821
Pension Benefits Standards Act, 1985 — P-7.01 40
Annual report 40 (1) The Superintendent shall, after consultation with the Chief Actuary of the Office of the Superintendent of Financial Institutions and as soon as possible after the end of each fiscal year, submit to the Minister a report on (a) the operation of this Act during that year; and (b) the success of pension plans in meeting the funding requirements, determined in accordance with section 9, and the corrective measures taken or directed to be taken to deal with any pension plans that are not meeting the funding requirements. Tabling in Parliament (2) The Minister shall cause the report to be tabled in each House of Parliament on any of the first 15 days on which that House is sitting after the day the Minister receives it. Transmission to provinces (3) As soon as possible after the tabling of the report in Parliament, the Superintendent shall transmit the report to the relevant provincial ministers responsible for finance and provincial securities commissions. R.S., 1985, c. 32 (2nd Supp.), s. 40; 2010, c. 12, s. 1822 2023, c. 6, s. 6
Pension Benefits Standards Act, 1985 — P-7.01 42
Repeal of R.S., c. P-7 42 (1) The Pension Benefits Standards Act is repealed. Limitation (2) Notwithstanding subsection (1), the Pension Benefits Standards Act and the regulations thereunder continue to apply to persons who have, before January 1, 1987, ceased membership in a pension plan or retired. R.S., 1985, c. 32 (2nd Supp.), s. 42; 2001, c. 34, s. 77
Pension Benefits Standards Act, 1985 — P-7.01 46
Coming into force 46 This Act shall come into force on January 1, 1987.
Pension Benefits Standards Act, 1985 — P-7.01 197
Adoption of new plan 197 If, as a result of the adoption of a new plan, employer contributions to a pension plan are suspended or cease before the day on which subsection 29(4) of the Pension Benefits Standards Act, 1985 , as enacted by subsection 194 (1), comes into force, the original plan is deemed not to have been terminated, and the pension benefits and other benefits provided under the original plan are deemed to be benefits provided under the new plan in respect of any period of membership before the adoption of the new plan, regardless of whether the assets and liabilities of the original plan have been consolidated with those of the new plan.
Pension Benefits Standards Act, 1985 — P-7.01 483
2010, c. 12, s. 1820(12) 483 Subsections 39(2) and (3) of the Pension Benefits Standards Act, 1985 are deemed to have come into force on July 27, 2004.
Pension Benefits Standards Act, 1985 — P-7.01 145
145 2010, c. 12, s. 1786(5)(F) (2) Paragraph (b) of the definition former member in subsection 2(1) of the French version of the Act is replaced by the following: (b) à l’article 9.2 et à l’alinéa 28(1)b.1), du participant dont la participation a pris fin ou qui a pris sa retraite, à l’exception de celui qui, avant la cessation totale du régime, s’est vu acheter une prestation viagère qui satisfait, en application de l’article 17.2, à l’ensemble des obligations prévues par le régime relativement à ses prestations ou relativement à toute autre prestation ou toute option visées à l’alinéa 17b), a, au titre de l’article 26, transféré ses droits à pension ou utilisé ceux-ci pour acheter une prestation viagère, ou a vu ses prestations de pension transférées à un autre régime de pension; 2010, c. 12, s. 1786(3)(E) (3) Subparagraph (b)(i) of the definition former member in subsection 2(1) of the English version of the Act is replaced by the following: (i) had a life annuity purchased for them that, under section 17.‍2, satisfies all of the plan’s obligations with respect to their pension benefits or any other benefit or option referred to in paragraph 17(b), (i.1) transferred their pension benefit credit under section 26,
Pension Benefits Standards Act, 1985 — P-7.01 147
147 The Act is amended by adding the following after section 17.1: Life Annuities Life annuity in lieu of pension benefit 17.2 (1) The purchase of an immediate or deferred life annuity by the administrator of a pension plan for a former member or survivor satisfies an obligation under the plan to provide a pension benefit arising from a defined benefit provision — as well as, in the case of a deferred life annuity, an obligation under the pension plan to provide any other benefit or option described in paragraph 17(b) that relates to that pension benefit — to the former member or survivor if (a) the plan authorizes the purchase of the life annuity in satisfaction of that obligation; (b) the life annuity is of the prescribed kind; (c) the life annuity provides the former member or survivor with payments that (i) in the case of an immediate life annuity, are in the same amount and form as the pension benefit to which the former member or survivor would otherwise be entitled under the terms of the pension plan that are in place on the day of the purchase, or (ii) in the case of a deferred life annuity, are in the same amount as the pension benefit, and the related benefit or option described in paragraph 17(b), to which the former member or survivor would otherwise be entitled under the terms of the pension plan that are in place on the day of the purchase; and (d) the administrator complies with the prescribed notice requirements. Partial satisfaction of the obligation (2) Despite paragraph (1)‍(c), the administrator may purchase a life annuity that provides the former member or survivor with payments that are in an amount that is the same as a part of the pension benefit or, in the case of a deferred life annuity, as a part of the pension benefit and related benefit or option. However, that purchase satisfies the obligation under the plan only with respect to that part. Superintendent’s approval (3) The administrator shall obtain the Superintendent’s approval of the person from whom the administrator proposes to purchase the life annuity if that person is not a life company as defined in subsection 2(1) of the Insurance Companies Act . Application of section 26.‍1 (4) For greater certainty, section 26.‍1 applies to the purchase of a life annuity under this section.
Pension Benefits Standards Act, 1985 — P-7.01 17.2
Life annuity in lieu of pension benefit 17.2 (1) The purchase of an immediate or deferred life annuity by the administrator of a pension plan for a former member or survivor satisfies an obligation under the plan to provide a pension benefit arising from a defined benefit provision — as well as, in the case of a deferred life annuity, an obligation under the pension plan to provide any other benefit or option described in paragraph 17(b) that relates to that pension benefit — to the former member or survivor if (a) the plan authorizes the purchase of the life annuity in satisfaction of that obligation; (b) the life annuity is of the prescribed kind; (c) the life annuity provides the former member or survivor with payments that (i) in the case of an immediate life annuity, are in the same amount and form as the pension benefit to which the former member or survivor would otherwise be entitled under the terms of the pension plan that are in place on the day of the purchase, or (ii) in the case of a deferred life annuity, are in the same amount as the pension benefit, and the related benefit or option described in paragraph 17(b), to which the former member or survivor would otherwise be entitled under the terms of the pension plan that are in place on the day of the purchase; and (d) the administrator complies with the prescribed notice requirements. Partial satisfaction of the obligation (2) Despite paragraph (1)‍(c), the administrator may purchase a life annuity that provides the former member or survivor with payments that are in an amount that is the same as a part of the pension benefit or, in the case of a deferred life annuity, as a part of the pension benefit and related benefit or option. However, that purchase satisfies the obligation under the plan only with respect to that part. Superintendent’s approval (3) The administrator shall obtain the Superintendent’s approval of the person from whom the administrator proposes to purchase the life annuity if that person is not a life company as defined in subsection 2(1) of the Insurance Companies Act . Application of section 26.‍1 (4) For greater certainty, section 26.‍1 applies to the purchase of a life annuity under this section.
Pension Benefits Standards Act, 1985 — P-7.01 141
141 (1) Subsections 10.3(1) to (3) of the Pension Benefits Standards Act, 1985 are replaced by the following: Designated entity 10.3 (1) The Minister may, with the approval of the Governor in Council, designate an entity , as defined in section 2 of the Bank Act , for the purposes, among others, of receiving and holding the assets of a pension plan relating to the pension benefit credit of any person who cannot be located, and of disbursing those assets in a lump sum. Transfer (2) In the case of the termination of the whole of a pension plan or in the prescribed circumstances, the administrator of the pension plan or — with the approval of the Superintendent — the trustee or custodian of the pension fund may, subject to subsection (3) and the regulations, transfer to the designated entity the assets of the plan relating to the pension benefit credit of any person who cannot be located. Conditions (3) The transfer of assets to the designated entity may be made only if (a) in the case of the termination of the whole of a pension plan, the prior consent of the Superintendent has been obtained; or (b) in the case of a pension plan other than one that is terminated in whole, the conditions specified by the Superintendent have been met or, if they have not been met or none have been specified, the prior consent of the Superintendent has been obtained. Obligation satisfied (3.1) A transfer of the assets of a pension plan relating to the pension benefit credit of a person who cannot be located satisfies the obligation under the plan to provide (a) a pension benefit in respect of that person; (b) any other benefit or option described in paragraph 17(b) that relates to that pension benefit; and (c) the portion of any surplus that is allocated to that person. Claims (3.2) A claim is not to be made for a benefit, an option or a portion of any surplus referred to in subsection (3.1) from the designated entity. However, prescribed persons may make a claim for payment of a lump sum from the designated entity in respect of the assets that were transferred to it, but the designated entity is not liable to pay more than the amount of the total value of those assets. Information (3.3) On the transfer of assets under subsection (2), the administrator of the pension plan or the trustee or custodian of the pension fund, as the case may be, must provide the designated entity with the prescribed information, to the extent that they have the information, relating to the pension benefit credit and the person who cannot be located. Publication of information (3.4) The designated entity may publish prescribed information relating to the assets that are transferred to it under subsection (2). (2) Subsection 10.3(5) of the Act is replaced by the following: Limitation period or prescription (5) On the transfer of assets to Her Majesty in right of Canada, a claim to those assets may no longer be made. Surplus (6) For the purposes of this section, the assets of a pension plan relating to the pension benefit credit of a person who cannot be located include the portion of any surplus that is allocated to that person.