Income Tax Regulations — 8506
8506 (1) For the purposes of paragraph 8502(c), the following benefits may, subject to the conditions specified in respect of each benefit, be provided under a money purchase provision of a pension plan: Lifetime Retirement Benefits (a) lifetime retirement benefits provided to a member where the benefits are payable in equal periodic amounts or are not so payable only by reason that (i) the benefits payable to a member after the death of the member’s spouse or common-law partner are less than the benefits that would be payable to the member were the member’s spouse or common-law partner alive, or (ii) the benefits are adjusted, after they commence to be paid, where those adjustments would be in accordance with any of subparagraphs 146(3)(b)(iii) to (v) of the Act if the annuity by means of which the lifetime retirement benefits are provided were an annuity under a retirement savings plan; Bridging Benefits (b) bridging benefits provided to a member where the bridging benefits are payable for a period ending no later than the end of the month following the month in which the member attains 65 years of age; Guarantee Period (c) retirement benefits (in this paragraph referred to as “continued retirement benefits”) provided to one or more beneficiaries of a member who dies after retirement benefits under the provision commence to be paid to the member where (i) the continued retirement benefits are payable for a period beginning after the death of the member and ending no later than 15 years after the day on which retirement benefits commence to be paid under the provision to the member, and (ii) the total amount of continued retirement benefits payable under the provision for each month does not exceed the amount of retirement benefits (other than benefits permissible under paragraph (e.1)) that would have been payable under the provision for the month to the member if the member were alive; Post-retirement Survivor Benefits [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/2001-188, s. 17(E) (d) retirement benefits (in this paragraph referred to as “survivor retirement benefits”) provided to a beneficiary of a member who dies after retirement benefits under the provision commence to be paid to the member where (i) the beneficiary is a spouse or common-law partner or former spouse or common-law partner of the member at the time the member’s retirement benefits commence to be paid, (ii) the survivor retirement benefits are payable for a period beginning after the death of the member and ending with the death of the beneficiary, and (iii) the total amount of survivor retirement benefits and other retirement benefits (other than benefits permissible under paragraph (e.1)) payable under the provision for each month to beneficiaries of the member does not exceed the amount of retirement benefits (other than benefits permissible under paragraph (e.1)) that would have been payable under the provision for the month to the member if the member were alive; Pre-retirement Survivor Benefits [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/2001-188, s. 17(E) (e) retirement benefits provided to a beneficiary of a member who dies before retirement benefits under the provision commence to be paid to the member, and benefits provided to other individuals after the death of the beneficiary, where (i) the beneficiary is a spouse or common-law partner or former spouse or common-law partner of the member at the time of the member’s death, (ii) the benefits would be permissible under paragraphs (a) to (c) if the beneficiary were a member of the plan, and (iii) the retirement benefits are payable to the beneficiary beginning no later than on the later of one year after the day of death of the member and the end of the calendar year in which the beneficiary attains 71 years of age; Variable benefits (e.1) retir