GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Pension Benefits Standards Act, 1985 — P-7.01 24
New relationship not to terminate pension benefit 24 A pension benefit payable to the spouse, former spouse or former common-law partner of a member or former member or to the survivor of a deceased member or former member shall not terminate by reason only that the spouse, former spouse, former common-law partner or survivor marries or enters into a common-law partnership. R.S., 1985, c. 32 (2nd Supp.), s. 24; 2000, c. 12, s. 258
Pension Benefits Standards Act, 1985 — P-7.01 25
hat person’s spouse, former spouse or former common-law partner under a court order or agreement, a joint and survivor pension benefit may be adjusted so that it becomes payable as two separate pensions, one to the member or former member and the other to that person’s spouse, former spouse or former common-law partner, if the aggregate of the actuarial present values of the two pensions is not less than the actuarial present value of the joint and survivor pension benefit. Adjustment of joint and survivor pension benefit (7.1) A pension plan may provide that, if no part of the pension benefit of a member or former member is required to be distributed to that person’s spouse, former spouse or former common-law partner under a court order or agreement referred to in subsection (5), a joint and survivor pension benefit may be adjusted so that it becomes payable in the normal form of the pension benefit as defined in subsection 22(1). Limitation (8) The aggregate of the following amounts shall not be greater than the actuarial present value of the pension benefit or other benefit, as the case may be, that would have been payable to the member or former member had the divorce, annulment, separation or breakdown not occurred: (a) the actuarial present value of the pension benefit or other benefit paid to the member or former member, and (b) the actuarial present value of the pension benefit or other benefit paid to the spouse, former spouse or former common-law partner of the member or former member. R.S., 1985, c. 32 (2nd Supp.), s. 25; 2000, c. 12, s. 259; 2001, c. 34, s. 73(F); 2010, c. 12, s. 1811
Pension Benefits Standards Act, 1985 — P-7.01 26.1
If transfer or purchase impairs solvency 26.1 The administrator of a pension plan must obtain the consent of the Superintendent to transfer moneys out of the pension fund under section 26 or purchase an immediate or deferred life annuity if, in the Superintendent’s opinion, the transfer or purchase would impair the solvency of the pension fund. The Superintendent may consent to the transfer or purchase or may direct the administrator to carry out the transfer or purchase. 2010, c. 12, s. 1814
Pension Benefits Standards Act, 1985 — P-7.01 27
Sex discrimination prohibited 27 (1) The sex of a member or former member or of their spouse, former spouse, common-law partner or former common-law partner may not be taken into account in determining (a) the amount of any contribution required to be paid by the member under a pension plan after December 31, 1986; or (b) the amount of any benefit to which any of those persons becomes entitled under the plan after December 31, 1986. Compliance (2) In order to comply with subsection (1), a pension plan may (a) use annuity factors that do not differentiate as to sex; (b) provide for employer contributions that vary according to the sex of the employee; or (c) use any other method approved by the Superintendent. Transfer under section 26 (3) Notwithstanding subsection (1), amounts transferred pursuant to section 26 may vary according to the sex of the member if the variation is such that the pension benefit payable at pensionable age, based on the amount so transferred, does not vary materially according to the sex of the member. R.S., 1985, c. 32 (2nd Supp.), s. 27; 2000, c. 12, s. 260
Pension Benefits Standards Act, 1985 — P-7.01 28
utor, administrator or liquidator of the member’s estate or succession. Meaning of funded ratio (2) In subparagraph (1)(b)(iii), funded ratio means the ratio of the assets of a pension plan to the liabilities of the pension plan on a going-concern basis, as reported in the latest actuarial report respecting the pension plan filed with the Superintendent. Information on plan termination (2.1) A pension plan shall provide that if the whole of the plan is terminated, the administrator shall give to each member and former member and to the spouse or common-law partner of each member and former member, as well as to each survivor who is entitled to pension benefits under the plan, a written statement, in the prescribed form, informing them of (a) the termination of the plan, within 30 days after the termination or any longer period permitted by the Superintendent; and (b) the member’s, former member’s or survivor’s pension benefits and other benefits payable under the plan, within 120 days after the termination or any longer period that the Superintendent may allow. Administrator’s duty (3) The administrator shall forthwith (a) permit any examination of documents that is requested under subparagraph (1)(c)(i); and (b) comply, on condition of payment of such reasonable fee as the administrator may fix, with any written order for a photocopy placed under subparagraph (1)(c)(ii). R.S., 1985, c. 32 (2nd Supp.), s. 28; 1998, c. 12, s. 17; 2000, c. 12, s. 263; 2001, c. 34, s. 75; 2010, c. 12, s. 1815, c. 25, s. 193 2023, c. 26, s. 155
Pension Benefits Standards Act, 1985 — P-7.01 29
s not to be applied until termination report approved (10) Assets of the pension plan may not be applied toward the provision of any benefits until the Superintendent has approved the termination report. The administrator of the plan may nevertheless pay pension benefits, as they fall due, to the person entitled. Superintendent may direct winding-up (11) If the whole of a pension plan has been terminated and the Superintendent is of the opinion that no action or insufficient action has been taken to wind up the plan, the Superintendent may direct the administrator to distribute the assets of the plan in accordance with the regulations made under paragraph 39(1)(j), and may direct that any expenses incurred in connection with that distribution be paid out of the pension fund of the plan, and the administrator shall comply with any such direction without delay. (12) [Repealed, 2010, c. 12, s. 1816] R.S., 1985, c. 32 (2nd Supp.), s. 29; 1998, c. 12, s. 18; 2000, c. 12, s. 261; 2010, c. 12, s. 1816, c. 25, ss. 194, 198 2023, c. 26, s. 156(F)
Pension Benefits Standards Act, 1985 — P-7.01 29.01
Application 29.01 (1) Sections 29.02 to 29.3 apply only in respect of a defined benefit plan that is not a multi-employer pension plan. Agent of Her Majesty (2) Sections 29.02 to 29.3 do not apply in respect of an employer who is an agent of Her Majesty in right of Canada. 2010, c. 12, s. 1817
Pension Benefits Standards Act, 1985 — P-7.01 29.02
Definitions 29.02 The following definitions apply in sections 29.03 to 29.3 : beneficiary means any person, other than a member, who is entitled to pension benefits under a pension plan. ( bénéficiaire ) representative means a bargaining agent for unionized members or a representative appointed under subsection 29.08 (3). ( représentant ) 2010, c. 12, s. 1817
Pension Benefits Standards Act, 1985 — P-7.01
beneficiary means any person, other than a member, who is entitled to pension benefits under a pension plan. ( bénéficiaire )
Pension Benefits Standards Act, 1985 — P-7.01
representative means a bargaining agent for unionized members or a representative appointed under subsection 29.08 (3). ( représentant )
Pension Benefits Standards Act, 1985 — P-7.01 29.03
Election of employer 29.03 (1) Subject to the regulations, an employer may elect to enter into a distressed pension plan workout scheme, as provided for in this section and sections 2 9.04 to 29.3 , unless the employer is in the process of being liquidated, has made an assignment or has become bankrupt or the whole of the pension plan has been terminated. Resolution (2) The election must be authorized by a resolution of the employer and, in the case of a Crown corporation, must also be authorized by the Minister and the appropriate Minister, as defined in subsection 83(1) of the Financial Administration Act . Declaration (3) The election must be made by means of a declaration, in the prescribed form, of an officer of the employer and the declaration must (a) state that the employer does not anticipate being able to make the payments required under subsection 9 (1.1) or that the employer is the subject of proceedings under the Companies’ Creditors Arrangement Act or Part III of the Bankruptcy and Insolvency Act ; (b) state that the employer intends to negotiate with the representatives of the members and beneficiaries with the purpose of entering into a workout agreement; (c) indicate, in the case of an employer who is not the subject of proceedings under the Companies’ Creditors Arrangement Act or Part III of the Bankruptcy and Insolvency Act , what portion of the payments referred to in subsection 2 9.07 (1) the employer intends to defer; and (d) contain any prescribed information. Filing (4) The employer must, without delay, file the declaration, a certified copy of the employer’s resolution and any prescribed documents with the Superintendent and provide the Minister and the administrator with a copy of the documents filed. Notice to members and beneficiaries (5) The employer must, in accordance with the regulations, provide notice of the declaration to the members and beneficiaries. 2010, c. 12, s. 1817
Pension Benefits Standards Act, 1985 — P-7.01 29.04
Negotiation period 29.04 (1) On the day on which the declaration is filed with the Superintendent, a negotiation period for the purposes of paragraph 29.03(3)(b) begins and, subject to subsections (2) and (3), ends on the date that is determined in accordance with the regulations. Extension by Minister (2) The Minister may extend the negotiation period by a period of up to three months and, in determining whether to do so, must take into account any written representations made by the employer or the representatives and any other matter that the Minister considers relevant. No more than one extension may be granted in respect of any negotiation period. Termination by Minister (3) The Minister may terminate the negotiation period by notifying the Superintendent, the administrator, the employer and the representatives of the date of the termination. 2010, c. 12, s. 1817
Pension Benefits Standards Act, 1985 — P-7.01 29.05
Exception 29.05 Despite section 29.04 , the negotiation period ends, and may not be extended, on the liquidation, assignment or bankruptcy of the employer. 2010, c. 12, s. 1817
Pension Benefits Standards Act, 1985 — P-7.01 29.06
No termination 29.06 Despite section 11.1 and subsections 29(2) and (2.1), the Superintendent may not revoke the registration of a pension plan or declare the whole of a pension plan terminated during the negotiation period. 2010, c. 12, s. 1817
Pension Benefits Standards Act, 1985 — P-7.01 29.07
Deferral of payments 29.07 (1) If an employer makes an election under subsection 29.03 (1), the payments to the pension fund that become due during the negotiation period are deferred, to the extent specified in the declaration, except payments that relate to normal cost and payments of the amounts that the employer has deducted from members’ remuneration. Non-application of subsection 8(1) (2) Subsection 8(1) does not apply to the deferred payments during the negotiation period. When deferred payments become due (3) The deferred payments and interest on those payments become due immediately if (a) the whole of the pension plan is terminated during the negotiation period; (b) the employer becomes the subject of proceedings under the Companies’ Creditors Arrangement Act or Part III of the Bankruptcy and Insolvency Act during the negotiation period; (c) the workout agreement does not provide for the payment of the deferred amounts; or (d) there is no workout agreement at the end of the negotiation period. Non-application (4) Subsections (1) to (3) do not apply if, at the time the election is made to enter into a distressed pension plan workout scheme, the employer is the subject of proceedings under the Companies’ Creditors Arrangement Act or Part III of the Bankruptcy and Insolvency Act . 2010, c. 12, s. 1817
Pension Benefits Standards Act, 1985 — P-7.01 29.08
Appointment by Federal Court 29.08 (1) Once the declaration has been filed with the Superintendent, the employer must, without delay, apply to the Federal Court for the appointment of (a) a representative who has exclusive authority to negotiate a workout agreement on behalf of the beneficiaries; and (b) a representative who has exclusive authority to negotiate a workout agreement on behalf of the non-unionized members, if any. Other court (2) If the employer is the subject of proceedings under the Companies’ Creditors Arrangement Act or Part III of the Bankruptcy and Insolvency Act , the employer must make the application instead to the appropriate court as determined by the regulations. Eligibility (3) The Federal Court or the court referred to in subsection (2) must appoint representatives who meet the prescribed eligibility criteria. The appointment is subject to any terms that the Federal Court or other court considers appropriate. Information to be provided to representatives (4) Within five days after the day on which a representative is appointed, the administrator must provide the representative with the names and home addresses of the non-unionized members or beneficiaries that they represent and a copy of the declaration. Notice to members and beneficiaries (5) Each representative — or, if the representative agrees, the employer — must, in the prescribed manner and within the prescribed period, notify the non-unionized members or beneficiaries that they represent of their appointment and provide them with any prescribed information. Costs (6) The costs associated with the application made under subsection (1) or (2) must be paid by the employer and not out of the pension fund. 2010, c. 12, s. 1817
Pension Benefits Standards Act, 1985 — P-7.01 29.09
Obligation of employer and administrator 29.09 (1) The employer and administrator must provide the representatives with any prescribed information in the prescribed manner and within the prescribed period. Fees and expenses (2) The reasonable fees and expenses of the representatives must be paid by the employer and not out of the pension fund. 2010, c. 12, s. 1817
Pension Benefits Standards Act, 1985 — P-7.01 29.1
Workout agreement 29.1 (1) Subject to the regulations made for the purposes of sections 29.03 to 29.09 , this section and sections 29.2 and 29.3 , the employer and the representatives may negotiate a workout agreement that, among other things, proposes a funding schedule in respect of the pension plan for the period specified in the agreement. Exception (2) The proposed funding schedule may not provide for payments that become due before the day on which the negotiation period begins or that relate to normal cost. Termination (3) A workout agreement may not be entered into in respect of a pension plan that has been terminated in whole. 1998, c. 12, s. 19; 2010, c. 12, s. 1817
Pension Benefits Standards Act, 1985 — P-7.01 29.2
Information to be provided to members and beneficiaries 29.2 (1) The members and beneficiaries must be provided with the prescribed information regarding the proposed workout agreement within the prescribed period by their respective representatives or, if the representative agrees, by the employer. Consent of representatives (2) A representative who is not a bargaining agent may consent to a proposed workout agreement only if less than one third of the members or beneficiaries that they represent object to the agreement within the prescribed period. How objections are counted (3) Any objection expressed by a representative on behalf of the members or beneficiaries that they represent is to be counted as a separate objection for each person that they represent. 2010, c. 12, s. 1817
Pension Benefits Standards Act, 1985 — P-7.01 29.3
Approval by Minister 29.3 (1) The proposed funding schedule may take effect only if it is approved by the Minister, on the request of the employer and the representatives who consent to the proposed workout agreement. Objections (2) The request for approval of the funding schedule may be submitted to the Minister only if less than one third of the members and less than one third of the beneficiaries object to the proposed workout agreement within the prescribed period. Request for approval (3) A request for approval must be submitted within the prescribed period and must be accompanied by (a) a copy of the proposed workout agreement signed by the employer and the representatives that consent to it; (b) the funding schedule in the form that the Superintendent directs; (c) a written statement from each representative who consents to the proposed workout agreement or the employer, as the case may be, confirming that the requirements set out in subsection 29.2 (1) have been met; (d) a written statement in which the employer confirms that the requirement set out in subsection (2) has been met; and (e) any prescribed documents or information. Conditions (4) The Minister may approve the funding schedule only if, in the Superintendent’s opinion, it complies with the regulations made under subparagraph 39(1)(n.1)(v). In deciding whether or not to approve the funding schedule, the Minister must consider the prescribed criteria and any other matter that the Minister considers relevant. Notification of decision (5) The Minister must notify the Superintendent, employer, administrator and representatives of the decision and, if the funding schedule is approved, must provide the Superintendent with a copy of the schedule. Effect of approval (6) On approval by the Minister, the funding schedule is, for the purposes of this Act — except section 38 — and the regulations, considered to be part of the prescribed tests and standards for solvency in respect of the pension plan in question. Inconsistency (7) In the event of an inconsistency between the approved funding schedule and the provisions of the regulations, the funding schedule prevails to the extent of the inconsistency. 2010, c. 12, s. 1817
Pension Benefits Standards Act, 1985 — P-7.01 30
Effect of sale, etc., of business 30 (1) Where (a) an employer who is a party to a pension plan sells, assigns or otherwise disposes of all or part of its business or undertaking or all or part of the assets of its business or undertaking, (b) an employee of that employer becomes an employee of the person acquiring the business, undertaking or assets (in this section called the “successor employer”), and (c) the successor employer does not assume responsibility for the accrued benefits of the employer’s pension plan, the employee continues to be entitled to the benefits provided under the employer’s plan in respect of the period of membership in that employer’s plan, without further accrual. Idem (2) Where the events described in paragraphs (1)(a) and (b) occur, whether or not the successor employer assumes responsibility for the accrued benefits of the employer’s plan, then, (a) for the purposes of the employer’s plan, membership in the employer’s plan of an employee referred to in paragraph (1)(b) shall be deemed not to have ceased by reason of those events; and (b) for the purposes of (i) determining the period of employment with respect to any eligibility condition of the successor employer’s pension plan, and (ii) determining whether such an employee is entitled to a benefit under a pension plan of the employer or of the successor employer, the period of employment shall be deemed to include employment with both the employer and the successor employer without any interruption. R.S., 1985, c. 32 (2nd Supp.), s. 30; 2010, c. 12, s. 1824(F)
Pension Benefits Standards Act, 1985 — P-7.01 31
Certain provisions of provincial law to apply 31 Except to the extent that they are inconsistent with this Act, any provisions of any provincial law respecting the payment of benefits or the designation of beneficiaries under pension plans that would be applicable to a pension plan organized and administered to provide pension benefits to employees employed in included employment if that provincial law were applicable to such a pension plan shall be deemed to apply to such a pension plan as though that employment were not included employment.
Pension Benefits Standards Act, 1985 — P-7.01 31.1
Consent and other conditions 31.1 (1) Any requirement under this Act to provide a person with information, including information in a document, may be satisfied by the provision of an electronic document if (a) the addressee has consented and has designated an information system for the receipt of the electronic document; (b) the electronic document is provided to the designated information system; and (c) the information in the electronic document is accessible by the addressee and capable of being retained by the addressee, so as to be usable for subsequent reference. Revocation of consent (2) An addressee may revoke the consent referred to in paragraph (1)(a). Non-application (3) Subsections (1) and (2) do not apply (a) to any requirement under this Act to provide the Minister or the Superintendent with information; (b) to any requirement under this Act, imposed on the Minister or the Superintendent, to provide a person with information; or (c) to any requirement under this Act exempted, by regulation, from the application of those subsections. Communications by Minister or Superintendent (4) For greater certainty, the Minister and the Superintendent may use electronic means to communicate information, including information in a document, under this Act. 2010, c. 25, s. 195
Pension Benefits Standards Act, 1985 — P-7.01 31.2
Signatures 31.2 A requirement under this Act for a signature is satisfied in relation to an electronic document if the prescribed requirements, if any, are met and if the signature results from the use by a person of a technology or a process that permits the following to be proven: (a) the signature resulting from the use by the person of the technology or process is unique to them; (b) the technology or process is used by the person to incorporate, attach or associate their signature to the electronic document; and (c) the technology or process can be used to identify its user. 2010, c. 25, s. 195
Pension Benefits Standards Act, 1985 — P-7.01 32
Notice of objection 32 (1) An administrator who is notified under subsection 10(4) or section 11.1 may, within sixty days after the day the notification is given, serve on the Superintendent a notice of objection in the prescribed form and manner, setting out the reasons for the objection and all facts relevant to it. Reconsideration by Superintendent (2) On receipt of a notice of objection, the Superintendent shall immediately reconsider the refusal or the revocation and cancellation, as the case may be, and vary or confirm the action taken, and shall immediately notify the administrator of the decision. R.S., 1985, c. 32 (2nd Supp.), s. 32; 1998, c. 12, s. 20