GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Pension Benefits Standards Regulations, 1985 — 24.1
24.1 (1) For the purposes of this section, solvency deficit means the amount by which the solvency liabilities as at the date of termination of a plan or the valuation date, as the case may be, exceeds the sum of the solvency assets at that date and the amounts required to be paid under subsection 29(6) of the Act. (2) For the purposes of subsection 29(6.1) of the Act, (a) an employer shall pay an amount equal to the solvency deficit as at the date of termination of the plan either in a lump sum or by equal annual payments sufficient to liquidate the solvency deficit over a period of five years from the date of termination; (b) the interest rate used to determine the annual payments is the same as the interest rate used to determine the solvency liabilities of the plan at the date of termination; and (c) the annual payments shall be paid by equal monthly instalments no later than 30 days after the end of each month. (3) The annual payment determined under paragraph (2)(a) that is to be paid in the plan year in which the plan is terminated may be reduced by the amounts required to be paid under subsection 29(6) of the Act. (4) An actuarial report, filed after termination of the plan but before it is wound up, shall set out the remaining solvency assets, solvency liabilities, solvency deficit and remaining payments required to liquidate the solvency deficit as at the valuation date. The solvency assets and solvency deficit shall not include the face value of any letters of credit. (5) If the present value of remaining payments determined in accordance with paragraph (2)(a) exceeds the remaining solvency deficit established as at the valuation date in accordance with the actuarial report referred to in subsection (4), the payments remaining to be made in respect of the solvency deficit are reduced pro rata . (6) If the remaining solvency deficit established as at the valuation date in accordance with the actuarial report referred to in subsection (4) exceeds the present value of remaining payments determined in accordance with paragraph (2)(a), the remaining payments are increased pro rata such that the remaining payments will liquidate the remaining solvency deficit over the remainder of the five-year period beginning on the date of termination. (7) Any solvency deficit that arises five or more years after the date of termination of the plan shall be immediately paid down. (8) For the purposes of subsection 29(6.3) of the Act, the portion of the remaining amount that is attributable to the payments made under subsection 29(6.1) of the Act is equal to the lesser of (a) the amount remaining in the pension fund at the date of winding-up, and (b) the accumulated value at the date of winding-up, with interest at the rates earned by the pension fund, of the payments made under subsection 29(6.1) of the Act. SOR/2011-85, s. 9
Pension Benefits Standards Regulations, 1985 — 25
25 (1) For the purposes of paragraph 31.1(1)(a) of the Act, the addressee may consent in writing, in paper or electronic form, or orally. (2) Before an addressee consents, the administrator shall notify the addressee (a) of the addressee’s right to revoke their consent at any time; (b) of the addressee’s responsibility to inform the administrator of any changes the addressee makes to the designated information system, including any changes made to the contact information for the designated information system; and (c) of the date when the consent takes effect. (3) The addressee shall revoke their consent in writing, in paper or electronic form, or orally. SOR/2015-60, s. 17
Pension Benefits Standards Regulations, 1985 — 25.1
25.1 If an electronic document is provided on a generally accessible information system, such as a website, the administrator shall provide to the addressee written notice, in paper or electronic form, of the electronic document’s availability and location. SOR/2015-60, s. 17
Pension Benefits Standards Regulations, 1985 — 25.2
25.2 An electronic document is considered to have been provided to an addressee when it is entered into or made available on the information system designated by the addressee. SOR/2015-60, s. 17
Pension Benefits Standards Regulations, 1985 — 25.3
25.3 (1) If an administrator has reason to believe that an addressee has not received an electronic document or the notice required under section 25.1, the administrator shall mail a paper copy of the document to the addressee. (2) The mailing of a paper copy does not affect when the electronic document is considered to have been provided under section 25.2. SOR/2015-60, s. 17
Pension Benefits Standards Regulations, 1985 — 26
26 (1) A pension benefit that is being paid under a plan shall not be reduced as a consequence of an increase in the benefits being paid under the Old Age Security Act , the Canada Pension Plan or a provincial pension plan as defined in section 3 of the Canada Pension Plan . (2) A pension benefit to which a plan member or former member is entitled under a plan shall not cease or be reduced as a consequence of the eligibility of that plan member or former member on account of age for a benefit payable before the age of 65 under the Old Age Security Act , the Canada Pension Plan or a provincial pension plan as defined in section 3 of the Canada Pension Plan , unless the plan member or former member has made an election to vary the pension benefit under subsection 16(6) of the Act.
Pension Benefits Standards Regulations, 1985 — 27
27 For the purposes of the Act, (a) a pension benefit granted after December 31, 1986 in respect of membership in a plan prior to January 1, 1987 shall be attributed to membership in the plan after December 31, 1986; and (b) where a pension benefit is based on a rate of remuneration of a plan member as of the date the plan member retires, or is based on an average of the rates of remuneration of a plan member over a specified and limited period, up to and including the date the plan member retires, the portion of the pension benefit attributable to membership in a plan after December 31, 1986 is (i) the pension benefit, less (ii) the pension benefit calculated as of December 31, 1986 using the rate of remuneration of the plan member as of the date the member ceases membership in the plan or retires, or the average of the rates of remuneration of the plan member over a specified and limited period, as of the date the member ceases membership in the plan or retires, as the case may be.
Pension Benefits Standards Regulations, 1985 — 28
28 Where a plan provides for pension benefits for an employee who is not employed in included employment and the employee is employed in a designated province referred to in section 3, the plan is exempt from the application of the Act in respect of any benefits for the employee.
Pension Benefits Standards Regulations, 1985 — 28.1
28.1 A pension plan that was established by a provincial statute in respect of a work, undertaking or business that is within the exclusive legislative authority of that province and in which an employee who is employed in included employment participates is exempt from the application of the Act. SOR/93-109, s. 7
Pension Benefits Standards Regulations, 1985 — 28.2
28.2 A pension plan that was established in respect of a telephone company that was not registered under the Act or under the Pension Benefits Standards Act , chapter P-7 of the Revised Statutes of Canada, 1985 before August 14, 1989 is exempt from the application of the Act in respect of any benefits that are derived from membership in the pension plan before that date. SOR/93-109, s. 7
Pension Benefits Standards Regulations, 1985 — 28.3
28.3 Section 18 of the Act does not apply in respect of an amount of a pension benefit credit that exceeds the maximum transfer that may be made from a pension plan to another pension plan or to a registered retirement savings plan under the Income Tax Act . SOR/93-109, s. 7
Pension Benefits Standards Regulations, 1985 — 28.4
28.4 (1) Where a plan provides pension benefits for a plan member or former member who has ceased to be a resident of Canada for at least two calendar years and has ceased employment with the employer who is a party to the plan or ceased membership in a multi-employer pension plan, the pension benefits or pension benefit credits applicable to that member or former member are exempt from the application of section 18 of the Act. (2) For the purposes of this section, a plan member or former member shall be deemed to have been a resident of Canada throughout a calendar year if that member or former member has sojourned in Canada in the year for a period of, or periods the total of which is, 183 days or more. SOR/94-384, s. 6
Pension Benefits Standards Regulations, 1985 — 28.5
28.5 A supplemental pension plan is exempt from the application of the Act if, under the terms of the pension plan to which it is supplemental, all the members of the supplemental pension plan are entitled to benefits at least equal to the maximum benefit or contribution limit under the Income Tax Act . SOR/94-384, s. 6; SOR/2002-78, s. 16
Pension Benefits Standards Regulations, 1985 — 28.6
28.6 Bridging benefits are exempt from the application of sections 22 and 23 of the Act. SOR/94-384, s. 6
Pension Benefits Standards Regulations, 1985 — 29
29 An employee who is receiving a pension benefit from a plan is exempt from the application of sections 14 and 15 of the Act in respect of that plan.
Pension Benefits Standards Regulations, 1985 — 30
30 The Superintendent may request an administrator to provide to the Superintendent an up-to-date consolidation of a plan and any amendments thereto.
Pension Benefits Standards Regulations, 1985 — 30.1
30.1 A written consent referred to in paragraph 16.1(3)(b) of the Act shall be in the form set out in Form 6 of Schedule IV. SOR/2009-100, s. 2
Pension Benefits Standards Regulations, 1985 — 31
31 A written agreement referred to in subsection 22(5) of the Act shall be in the form set out in Form 4 of Schedule II.
Pension Benefits Standards Regulations, 1985 — 32
32 A notice of objection referred to in subsection 32(1) of the Act shall be in the form set out in Form 5 of Schedule II and shall be served by registered mail or delivery to the Superintendent of Financial Institutions. SOR/2002-78, s. 17
Pension Benefits Standards Regulations, 1985 — 33
33 A notice of appeal referred to in subsection 33(2) of the Act shall be in the form set out in Form 6 of Schedule II.
Pension Benefits Standards Regulations, 1985 — 1
1 Employment with any Board, Commission, Corporation or other body forming part of the Public Service and listed in Parts I or II of Schedule I to the Public Service Superannuation Act , other than (a) the employment of employees to whom that Act does not apply; and (b) employment with the Cape Breton Development Corporation.
Pension Benefits Standards Regulations, 1985 — 2
2 Employment with any Board, Commission or Corporation or other body where employees are deemed by statute to be employed in the Public Service for the purposes of the Public Service Superannuation Act .
Pension Benefits Standards Regulations, 1985 — 3
3 Employment with the Canadian National Railways of employees who are subject to the Intercolonial and Prince Edward Island Railways Employees’ Provident Fund Act .
Pension Benefits Standards Regulations, 1985 — 1
1 Name, address and telephone number of the administrator.
Pension Benefits Standards Regulations, 1985 — 2
2 Name and address of the pension fund custodian or trustee together with any applicable policy or account number.
Pension Benefits Standards Regulations, 1985 — 3
3 Name and address of the external auditor.
Pension Benefits Standards Regulations, 1985 — 4
4 Total membership in the plan at plan year end.
Pension Benefits Standards Regulations, 1985 — 5
5 List of all members of a board of trustees or pension committee of the plan.
Pension Benefits Standards Regulations, 1985 — 1
1 Are all of the benefits provided by an insured plan or by a pension plan in respect of which an annuity contract has been issued by the Government of Canada? Yes No
Pension Benefits Standards Regulations, 1985 — 2
2 Are all of the pension plan’s assets held in an unallocated general fund of a person authorized to carry on a life insurance business in Canada? Yes No
Pension Benefits Standards Regulations, 1985 — Pension Benefits Standards Regulations, 1985
(If the answer to Question 1 and 2 is “No”, complete the following.)
Pension Benefits Standards Regulations, 1985 — 3
3 As at the end of the last plan year, had the administrator established a written statement of investment policies and procedures in accordance with subsection 7.1(1) to the Pension Benefits Standards Regulations, 1985 ? Yes No
Pension Benefits Standards Regulations, 1985 — 4
4 If a statement of investment policies and procedures had been established as at the end of the plan year preceding the last plan year, did the administrator review it during the last plan year? Yes No
Pension Benefits Standards Regulations, 1985 — 5
5 If a statement of investment policies and procedures had been established as at the end of the plan year preceding the last plan year, was the statement amended during the last plan year? Yes No
Pension Benefits Standards Regulations, 1985 — 6
6 If a statement of investment policies and procedures was established or amended during the last plan year, were the pension council, if one exists, and the actuary to the plan, if the pension plan is a defined benefit plan, given a copy of the statement or amendments in accordance with subsection 7.1(3) or 7.2(2) of the Pension Benefits Standards Regulations, 1985 ? Yes No
Pension Benefits Standards Regulations, 1985 — 7
7 During the last plan year, were the moneys of the pension fund invested in accordance with section 6 of the Pension Benefits Standards Regulations, 1985 ? Yes No
Pension Benefits Standards Regulations, 1985 — Pension Benefits Standards Regulations, 1985
I hereby certify that, to the best of my knowledge and belief, the information entered on this Investment Information Return, and any other information that has been requested by the Superintendent of Financial Institutions and is attached to this Return, is true and correct.
Pension Benefits Standards Regulations, 1985 — Pension Benefits Standards Regulations, 1985
( If the administrator is a board of trustees or other similar body, all trustees or members of the body must sign )
Pension Benefits Standards Regulations, 1985 — 1
1 Applicant I, , am a (member, former member, survivor) of the registered pension plan known as and I apply to
Pension Benefits Standards Regulations, 1985 — Pension Benefits Standards Regulations, 1985
I, , am a (member, former member, survivor) of the registered pension plan known as
Pension Benefits Standards Regulations, 1985 — 2
2 Transfer or Purchase ( check one ) (a) transfer my pension benefit credit to a locked-in registered retirement savings plan of the kind described in section 20 of the Pension Benefits Standards Regulations, 1985 ; (b) transfer my pension benefit credit to a life income fund of the kind described in section 20.1 of the Pension Benefits Standards Regulations, 1985 ; (c) transfer my pension benefit credit to a restricted life income fund of the kind described in section 20.3 of the Pension Benefits Standards Regulations, 1985 ; (d) use my pension benefit credit to purchase an immediate life annuity of the kind described in section 21 of the Pension Benefits Standards Regulations, 1985 ; (e) use my pension benefit credit to purchase a deferred life annuity of the kind described in section 21 of the Pension Benefits Standards Regulations, 1985 ; (f) transfer my pension benefit credit to a pension plan of which I am currently a member, which is known as ; or (g) transfer my pension benefit credit to a PRPP.
Pension Benefits Standards Regulations, 1985 — (a) 
(a) transfer my pension benefit credit to a locked-in registered retirement savings plan of the kind described in section 20 of the Pension Benefits Standards Regulations, 1985 ;
Pension Benefits Standards Regulations, 1985 — (b) 
(b) transfer my pension benefit credit to a life income fund of the kind described in section 20.1 of the Pension Benefits Standards Regulations, 1985 ;
Pension Benefits Standards Regulations, 1985 — (c) 
(c) transfer my pension benefit credit to a restricted life income fund of the kind described in section 20.3 of the Pension Benefits Standards Regulations, 1985 ;
Pension Benefits Standards Regulations, 1985 — (d) 
(d) use my pension benefit credit to purchase an immediate life annuity of the kind described in section 21 of the Pension Benefits Standards Regulations, 1985 ;
Pension Benefits Standards Regulations, 1985 — (e) 
(e) use my pension benefit credit to purchase a deferred life annuity of the kind described in section 21 of the Pension Benefits Standards Regulations, 1985 ;
Pension Benefits Standards Regulations, 1985 — (f) 
(f) transfer my pension benefit credit to a pension plan of which I am currently a member, which is known as ; or
Pension Benefits Standards Regulations, 1985 — (g) 
(g) transfer my pension benefit credit to a PRPP.
Pension Benefits Standards Regulations, 1985 — 3
3 Signatures Signature of member (or former member or survivor) Name of member (or former member or survivor) Signature of witness Name of witness Address of witness Signed at on , 20 .
Pension Benefits Standards Regulations, 1985 — Pension Benefits Standards Regulations, 1985
Signature of member (or former member or survivor)
Pension Benefits Standards Regulations, 1985 — Pension Benefits Standards Regulations, 1985
Name of member (or former member or survivor)
Pension Benefits Standards Regulations, 1985 — 4
4 Confirmation of the request received by the financial institution for ( check one ) (a) a transfer of the funds to a locked-in registered retirement savings plan of the kind described in section 20 of the Pension Benefits Standards Regulations, 1985 ; (b) a transfer of the funds to a life income fund of the kind described in section 20.1 of the Pension Benefits Standards Regulations, 1985 ; (c) a transfer of the funds to a restricted life income fund of the kind described in section 20.3 of the Pension Benefits Standards Regulations, 1985 ; (d) the use of the funds to purchase a deferred life annuity of the kind described in section 21 of the Pension Benefits Standards Regulations, 1985 ; or (e) the use of the funds to purchase an immediate life annuity of the kind described in section 21 of the Pension Benefits Standards Regulations, 1985 , the funds of which shall be only used to purchase another immediate life annuity that meets the requirements of those Regulations.
Pension Benefits Standards Regulations, 1985 — (a) 
(a) a transfer of the funds to a locked-in registered retirement savings plan of the kind described in section 20 of the Pension Benefits Standards Regulations, 1985 ;
Pension Benefits Standards Regulations, 1985 — (b) 
(b) a transfer of the funds to a life income fund of the kind described in section 20.1 of the Pension Benefits Standards Regulations, 1985 ;
Pension Benefits Standards Regulations, 1985 — (c) 
(c) a transfer of the funds to a restricted life income fund of the kind described in section 20.3 of the Pension Benefits Standards Regulations, 1985 ;
Pension Benefits Standards Regulations, 1985 — (d) 
(d) the use of the funds to purchase a deferred life annuity of the kind described in section 21 of the Pension Benefits Standards Regulations, 1985 ; or
Pension Benefits Standards Regulations, 1985 — (e) 
(e) the use of the funds to purchase an immediate life annuity of the kind described in section 21 of the Pension Benefits Standards Regulations, 1985 , the funds of which shall be only used to purchase another immediate life annuity that meets the requirements of those Regulations.
Pension Benefits Standards Regulations, 1985 — 5
5 Signatures Signature of applicant Name of applicant Signature of officer of financial institution Name of financial institution Signed at on , 20 .
Pension Benefits Standards Regulations, 1985 — Pension Benefits Standards Regulations, 1985
Signature of officer of financial institution
Pension Benefits Standards Regulations, 1985 — Pension Benefits Standards Regulations, 1985
I, , hereby certify that I am the spouse or common-law partner as defined by the Pension Benefits Standards Act, 1985 , of .
Pension Benefits Standards Regulations, 1985 — Pension Benefits Standards Regulations, 1985
I understand that my spouse or common-law partner has elected to transfer their pension benefit credit and that my written consent is required to enable my spouse or common-law partner to do so.
Pension Benefits Standards Regulations, 1985 — (a)
I understand that (a) transferring the pension benefit credit will allow my spouse or common-law partner to manage their own pension fund and will allow flexibility in determining the amount that will be paid to my spouse or common-law partner in each calendar year; (b) the transferred funds may be used to purchase a life annuity at a later date, but there is no requirement that the funds be used to purchase a life annuity; (c) if the transferred funds are used to purchase a life annuity, the life annuity must be in the joint and survivor form unless I waive my entitlements by signing a separate waiver form within 90 days before the day on which the annuity payments begin.
Pension Benefits Standards Regulations, 1985 — (a)
(a) transferring the pension benefit credit will allow my spouse or common-law partner to manage their own pension fund and will allow flexibility in determining the amount that will be paid to my spouse or common-law partner in each calendar year;
Pension Benefits Standards Regulations, 1985 — (b)
(b) the transferred funds may be used to purchase a life annuity at a later date, but there is no requirement that the funds be used to purchase a life annuity;
Pension Benefits Standards Regulations, 1985 — (c)
(c) if the transferred funds are used to purchase a life annuity, the life annuity must be in the joint and survivor form unless I waive my entitlements by signing a separate waiver form within 90 days before the day on which the annuity payments begin.
Pension Benefits Standards Regulations, 1985 — (a)
I further understand that transferring the pension benefit credit to a retirement savings plan of the prescribed kind will allow my spouse or common-law partner to withdraw some of the funds each year, subject to any minimum and maximum withdrawal limits. I understand, however, that the amount of pension income or survivor benefit available to me in later years may be significantly reduced if (a) my spouse or common-law partner elects to withdraw the maximum amount permitted each year; or (b) the investment performance is poor.
Pension Benefits Standards Regulations, 1985 — (a)
(a) my spouse or common-law partner elects to withdraw the maximum amount permitted each year; or
Pension Benefits Standards Regulations, 1985 — (a)
Nevertheless, I consent to the transfer of the pension benefit credit to a retirement savings plan of the prescribed kind and certify that (a) I have read this form and understand it; (b) neither my spouse or common-law partner nor anyone else has put any pressure on me to sign this form; (c) I realize that (i) this form only gives a general description of the legal rights I have under the Pension Benefits Standards Act, 1985 and the Pension Benefits Standards Regulations, 1985 , and (ii) if I wish to understand exactly what my legal rights are I must read the Pension Benefits Standards Act, 1985 and the Pension Benefits Standards Regulations,1985 or seek legal advice; and (d) I realize that I am entitled to keep a copy of this consent form.
Pension Benefits Standards Regulations, 1985 — (a)
(a) I have read this form and understand it;
Pension Benefits Standards Regulations, 1985 — (b)
(b) neither my spouse or common-law partner nor anyone else has put any pressure on me to sign this form;