Income Tax Regulations — 8502
n that is made from the plan is (i) a payment of benefits in accordance with the plan as registered, (ii) a transfer of property held in connection with the plan where the transfer is made in accordance with subsection 147.3(3), (4.1), (7.1) or (8) of the Act, (iii) a return of all or a portion of the contributions made by a member of the plan or an employer who participates in the plan, where the payment is made to avoid the revocation of the registration of the plan, (iv) a return of all or a portion of the contributions made by a member of the plan under a defined benefit provision of the plan, where the return of contributions is pursuant to an amendment to the plan that also reduces the future contributions that would otherwise be required to be made under the provision by members, (v) a payment of interest (computed at a rate not exceeding a reasonable rate) in respect of contributions that are returned as described in subparagraph (iii) or (iv), (vi) a payment in full or partial satisfaction of the interests of a person in an actuarial surplus that relates to a defined benefit provision of the plan, (vii) a payment to an employer of property held in connection with a money purchase provision of the plan, (viii) where the Minister has, under subsection 8506(2.1), waived the application of the condition in paragraph 8506(2)(b.1) in respect of a money purchase provision of the plan, a payment under the provision of an amount acceptable to the Minister, (ix) a payment, other than a payment described in subparagraph (i), with respect to a member of a single amount that the plan is required to make because of the Pension Benefits Standards Act, 1985 or a similar law of a province, where the single amount is not transferred directly to another registered pension plan, a registered retirement savings plan or a registered retirement income fund, or (x) the portion of the IPP minimum amount for an individual that is not described in subparagraph (i). Payment of Pension (e) the plan (i) requires that the retirement benefits of a member under each benefit provision of the plan begin to be paid not later than the end of the calendar year in which the member attains 71 years of age except that, (A) in the case of benefits provided under a defined benefit provision, the benefits may begin to be paid at any later time that is acceptable to the Minister, if the amount of benefits (expressed on an annualized basis) payable does not exceed the amount of benefits that would be payable if payment of the benefits began at the end of the calendar year in which the member attains 71 years of age, (B) in the case of benefits provided under a money purchase provision in accordance with paragraph 8506(1)(e.1), the benefits may begin to be paid not later than the end of the calendar year in which the member attains 72 years of age, and (C) in the case of benefits provided under a money purchase provision in accordance with paragraph 8506(1)(e.2), the benefits may begin to be paid not later than the later of (I) the end of the calendar year in which the member attains 71 years of age, and (II) the end of the calendar year in which a transfer was made from the member’s account to acquire rights under the VPLA fund, and (ii) provides that retirement benefits under each benefit provision are payable not less frequently than annually; Assignment of Rights (f) the plan includes a stipulation that no right of a person under the plan is capable of being assigned, charged, anticipated, given as security or surrendered, and, for the purposes of this condition, (i) assignment does not include (A) assignment pursuant to a decree, order or judgment of a competent tribunal or a written agreement in settlement of rights arising out of a marriage or common-law partnership between an individual and the individual’s spouse or common-law partner or former spouse or common-law partner, on or after the breakdown of their marriage or common-law partnership, or (B) assi