Income Tax Regulations — 8304.1
of a defined benefit provision, (i) the value of A in paragraph (5)(a) shall be determined without regard to any pension credit, or portion of a pension credit, that is attributable to benefits provided under the provision before the particular time, (ii) the value of B in paragraph (5)(a) shall be determined without regard to any provisional PSPA that is associated with a past service event that occurred before the particular time, and (iii) the value of C in paragraph (5)(a) shall be determined without regard to any specified distribution (as defined in subsection (8)) made at or before the particular time. Termination Conditions — Deferred Profit Sharing Plan (13) For the purpose of paragraph (3)(a), the conditions with respect to an individual’s termination from a deferred profit sharing plan are the following: (a) the termination occurs after 1996 and otherwise than because of death; and (b) no payments described in subparagraph 147(2)(k)(v) of the Act have been made out of or under the plan with respect to the individual. Termination Conditions — Registered Pension Plan (14) For the purposes of paragraphs (4)(a) and (5)(a), the conditions with respect to an individual’s termination from a benefit provision of a registered pension plan are the following: (a) the termination occurs after 1996 and otherwise than because of death; and (b) no retirement benefits have been paid under the provision with respect to the individual (other than retirement benefits paid with respect to the individual’s spouse or common-law partner or former spouse or common-law partner as a consequence of a breakdown of their marriage or common-law partnership). Breakdown of Marriage or Common-law Partnership [NOTE: Application provisions are not included in the consolidated text; see relevant amending Acts and regulations.] SOR/2001-188, s. 7 (15) Where (a) before a member terminates from a defined benefit provision of a registered pension plan, there has been a breakdown of the member’s marriage or common-law partnership, and (b) as a consequence of the breakdown, (i) the member has ceased to have rights to all or a portion of the benefits provided under the provision with respect to the member, and (ii) an individual who is the member’s spouse or common-law partner or former spouse or common-law partner has acquired rights under the provision in respect of those benefits, for the purpose of subsection (8), (c) any amount paid under the provision with respect to the rights acquired by the individual (other than a single amount paid under the provision at or before the time of the member’s termination in full satisfaction of the rights acquired by the individual) is deemed not to have been paid with respect to the member, and (d) unless a single amount has been paid under the provision at or before the time of the member’s termination in full satisfaction of the rights acquired by the individual, a single amount equal to the present value (at the time the member terminates from the provision) of the benefits to which the member has ceased to have rights as a consequence of the breakdown is deemed to have been paid to the member at that time under the provision in full satisfaction of those benefits. Pension Adjustment Correction (16) If a distribution described in subparagraph 8502(d)(iii) or subsection 147.1(19) of the Act is made in a calendar year in respect of an individual under a money purchase provision, the individual’s pension adjustment correction for the year is the total of all amounts each of which is an amount, in respect of one or more of the 10 years immediately preceding the calendar year (each such year referred to in this subsection as a “retroactive year”), determined by the formula A − B − C where A is the total of all amounts each of which was included in determining the individual’s pension credit with respect to an employer for the retroactive year under the provision; B is the total amount that ought to have been contribute