PART I INTERPRETATION
 29. (1) A wind up report required to be filed under subsection 70 (1) of the Act shall be prepared by a person authorized to prepare a report for the plan under section 15.  R.R.O. 1990, Reg. 909, s. 29 (1). (2) If a pension plan is being wound up in whole or in part, the minimum commuted value of a pension, deferred pension or ancillary benefit in respect of a person who exercises his or her entitlement under subsection 73 (2) of the Act is the amount determined as of the effective date of the wind up in accordance with section 3500 (“Pension Commuted Values”) of the Standards of Practice of the Actuarial Standards Board, published by the Canadian Institute of Actuaries, as amended from time to time.  O. Reg. 178/12, s. 29 (1); O. Reg. 390/15, s. 2; O. Reg. 420/19, s. 4 (1). (2.1) For a pension plan described in subsection 14 (2) or (3) of the Act, section 3500 of the Standards of Practice of the Actuarial Standards Board, published by the Canadian Institute of Actuaries, as amended from time to time, is to be applied for the purposes of subsection (2) of this section as if subsection 14 (1) of the Act applied in respect of the pension plan. O. Reg. 420/19, s. 4 (2). (3) The administrator shall file the wind up report within six months following the effective date of the wind up of the plan in whole or in part.  R.R.O. 1990, Reg. 909, s. 29 (3). (3.1) Revoked: O. Reg. 287/20, s. 7 (2). (4) In addition to the wind up report required under subsection 70 (1) of the Act, the administrator of the plan shall file all outstanding annual information returns required to be filed up to the effective date of the wind up of the pension plan within six months after the effective date.  R.R.O. 1990, Reg. 909, s. 29 (4); O. Reg. 629/92, s. 5 (2). (4.1) Revoked: O. Reg. 287/20, s. 7 (2). (5) In addition to the wind up report required under subsection 70 (1) of the Act, the administrator of a pension plan that is wound up and that provides a defined benefit shall provide the Chief Executive Officer with such information as the Chief Executive Officer requires to determine the persons whose pension benefits are guaranteed under section 84 of the Act, the amounts of such guaranteed benefits, the amounts to be contributed to the plan under section 75 of the Act and such other information as the Chief Executive Officer requires.  R.R.O. 1990, Reg. 909, s. 29 (5); O. Reg. 149/19, s. 1. (6) Payments of refunds of employee contributions with interest to persons not entitled to a pension, deferred pension or ancillary benefit are prescribed for purposes of subsection 70 (3) of the Act.  R.R.O. 1990, Reg. 909, s. 29 (6). (7) Subject to the requirements of subsection (8), the administrator of a pension plan, (a)  that is terminated; (b)  that provides defined benefits; and (c)  with respect to which no order has been made under subsection 83 (1) of the Act, may, after the wind up report required under subsection (1) has been approved by the Chief Executive Officer, pay prior to the completion of any additional funding required under section 75 of the Act, (d)  the accumulated value of any additional voluntary contributions; (e)  the accumulated value of required contributions made by a member or former member; and (f)  the value of any pension, deferred pension or ancillary benefits accrued as of the effective date of the wind up with respect to employment and remuneration until that date in accordance with the plan provisions, to the extent that such benefits have been funded and after appropriate adjustments for any payment made in accordance with clause (e).  R.R.O. 1990, Reg. 909, s. 29 (7); O. Reg. 307/98, s. 13 (1); O. Reg. 149/19, s. 1. (8) Where an employer is required to make payments into a pension plan under section 75 of the Act and all pensions and other benefits being funded under section 75 of the Act would not be guaranteed under section 84 of the Act, (a)  no funds of the pension plan shall be used to purchase a life annuity for any person entitled thereto; and (b)  where an election is made under clause 42 (1) (a) or (b) of the Act or subsection 42 (12) of the Act, the maximum portion of the commuted value of the pension or deferred pension that may be transferred is the amount, if any, of the contributions the employee was required to make under the plan plus any additional voluntary contributions made by the employee, until a report is filed under section 32 certifying that there is no further amount to be funded or an order is made under subsection 83 (1) of the Act with respect to the plan.  R.R.O. 1990, Reg. 909, s. 29 (8); O. Reg. 629/92, s. 5 (3); O. Reg. 307/98, s. 13 (2); O. Reg. 49/17, s. 6). (9) Where a pension plan is wound up in whole or in part and the assets of the pension plan are not sufficient to pay all pensions, deferred pensions or ancillary benefits, (a)  the pension, deferred pension or ancillary benefit to which a person would otherwise be entitled shall be reduced to an amount proportionate to the extent that the benefits had been funded; and (b)  where an order has been made under subsection 83 (1) of the Act, benefits attributable to the application of subsection 74 (7) of the Act shall not be included in the determination of a pension, deferred pension or ancillary benefit referred to in clause (a).  O. Reg. 178/12, s. 29 (2). (10) For the purposes of subsection 73.1 (3) of the Act, the prescribed period within which the Chief Executive Officer shall approve the purchase of life annuities is 10 years after approving the wind up report in respect of the pension plan. O. Reg. 412/17, s. 2; O. Reg. 149/19, s. 1. (11) Revoked: O. Reg. 178/12, s. 29 (3).