Pension Benefits Standards Act, 1985 — P-7.01 2
f a pension plan, a member or former member, or the spouse, common-law partner, survivor or designated beneficiary or estate or succession of a member or former member, is or may become entitled; ( prestation de pension ) pension benefit credit , in relation to any person, means the aggregate value at a particular time of that person’s pension benefit and other benefits provided under a pension plan, calculated in prescribed manner; ( droit à pension ) pension fund , in relation to a pension plan, means a fund maintained to provide benefits under or related to the pension plan; ( fonds de pension ) pension plan has the meaning assigned by subsection 4(2); ( régime de pension ) pensionable age , in relation to a member, means the earliest age (taking into account the period of employment with the employer or the period of membership in the pension plan, if applicable) at which a pension benefit, other than a benefit in respect of a disability (as defined in the regulations), is payable to the member under the terms of the pension plan without the consent of the administrator and without reduction by reason of early retirement; ( âge admissible ) plan year , in respect of a pension plan, means a calendar year, unless otherwise specified in the plan; ( exercice du régime ) prescribed means prescribed by regulation; ( Version anglaise seulement ) registered pension plan means a pension plan that is registered and in respect of which a certificate of registration has been issued by the Superintendent under this Act; ( régime agréé ) retire has the meaning assigned by subsection (3); ( retraite ) spouse , in relation to an individual, includes a person who is party to a void or, in Quebec, null marriage with the individual; ( époux ) standards for registration [Repealed, 1998, c. 12, s. 1] Superintendent means the Superintendent of Financial Institutions appointed pursuant to subsection 5(1) of the Office of the Superintendent of Financial Institutions Act ; ( surintendant ) surplus means the amount, determined in the prescribed manner, by which the assets of a pension plan exceed its liabilities; ( excédent ) survivor , in relation to a member or former member, means (a) if there is no person described in paragraph (b), the spouse of the member or former member at the time of the member’s or former member’s death, or (b) a person who was the common-law partner of the member or former member at the time of the member’s or former member’s death; ( survivant ) termination , in relation to a pension plan, means the situations described in subsections 29(1), (2), (2.1) and (4.2); ( cessation ) variable benefit means a pension benefit payable in the form of a variable payment out of the pension fund; ( prestation variable ) winding-up , in relation to a pension plan, means the distribution of the assets of a pension plan that has been terminated; ( liquidation ) workout agreement means an agreement that establishes a funding schedule that has been approved by the Minister under section 29.3 ; ( accord de sauvetage ) Year’s Maximum Pensionable Earnings has the same meaning as in the Canada Pension Plan . ( maximum des gains annuels ouvrant droit à pension ) Cessation of membership in a pension plan (2) For the purposes of this Act, a member of a pension plan shall be deemed to cease membership in the plan (a) in the case of a multi-employer pension plan, when no contributions have been made in respect of that member by any of the participating employers for a period of twenty-four months, or such shorter period as is provided under the plan, and the member is not in receipt of an immediate pension benefit; (b) in the case of any other pension plan, when the member’s employment with the employer terminates and the member is not in receipt of an immediate pension benefit, whether or not contributions by the employer in respect of that member had ceased previously; or (c) in any other prescribed circumstance. For greater certainty (2.1) For