Income Tax Regulations — 8303
rom one plan to the other in accordance with any of subsections 147.3(2), (5) and (7) of the Act. Exclusion for Pre-1990 Benefits (6.1) The amount of an individual’s qualifying transfers made in connection with a past service event shall be determined under subsection (6) without regard to the portion, if any, of amounts transferred or property made available, as the case may be, that can reasonably be considered to have been transferred or made available to fund benefits provided in respect of periods before 1990. Deemed Payment (7) Where (a) an individual has given an irrevocable direction that (i) an amount be paid to a registered pension plan, or (ii) property held in connection with a benefit provision of a registered pension plan be made available to fund benefits provided to the individual under another benefit provision of the plan in the event that the Minister issues a certification for the purposes of subsection 147.1(10) of the Act with respect to the individual and to benefits provided under a defined benefit provision of the plan as a consequence of a past service event, and (b) the amount is to be paid or the property is to be made available, as the case may be, (i) where subparagraph (ii) does not apply, on or before the day that is 90 days after the day on which the certification is received by the administrator of the plan, and (ii) where the plan was deemed by paragraph 147.1(3)(a) of the Act to be a registered pension plan at the time the direction was given, on or before the day that is 90 days after the later of (A) the day on which the certification is received by the administrator of the plan, and (B) the day on which the administrator of the plan receives written notice from the Minister of the registration of the plan for the purposes of the Act, the amount or property, as the case may be, is deemed, for the purpose of subsection (6), to have been paid or made available, as the case may be, at the time the direction was given. Excess Money Purchase Transfer (7.1) Where lifetime retirement benefits have, as a consequence of a past service event, become provided to an individual under a defined benefit provision of a registered pension plan (other than a specified multi-employer plan) in respect of a period (in this subsection referred to as the “past service period”) that (a) was previously pensionable service of the individual under a particular defined benefit provision of a registered pension plan (other than a specified multi-employer plan), (b) ceased to be pensionable service of the individual under the particular provision as a result of the payment of a single amount, all or part of which was transferred on behalf of the individual from the particular provision to a registered retirement savings plan, a registered retirement income fund, a money purchase provision of a registered pension plan or a defined benefit provision of a registered pension plan that was, at the time of the transfer, a specified multi-employer plan, (c) has not, at any time after the payment of the single amount and before the past service event, been pensionable service of the individual under any defined benefit provision of a registered pension plan (other than a specified multi-employer plan), and (d) is not, for the purpose of subsection 8304(5), a qualifying past service period in relation to the individual and the past service event, the amount determined by the formula A - B is, for the purpose of the description of D in subsection (3), an excess money purchase transfer in relation to the individual and the past service event, where A is the portion of the amount transferred, as described in paragraph (b), that can reasonably be considered to be attributable to benefits in respect of the portion of the past service period that is after 1989, and B is the total of all amounts each of which is the portion of a pension credit, or the grossed-up amount of a provisional PSPA, of the individual that can reasonably be co