PART I INTERPRETATION
 40.2 (1) A statement to a retired member required under subsection 27 (2) of the Act shall contain, as recorded in the records of the administrator, at least, (a)  the name of the pension plan and its provincial registration number; (b)  the retired member’s name and date of birth; (c)  the period covered by the statement; (d)  the date that the payment of the first instalment of the pension was due to the retired member; (e)  where applicable, the form of pension payable to the retired member at retirement; (f)  the annual amount of pension payable to the retired member; (g)  where applicable, the name of the person recorded as the retired member’s spouse for the purposes of subsection 44 (1) of the Act; (h)  a description of any benefits provided on the death of a retired member other than those required under section 44 of the Act and the name of any person designated as a beneficiary; (i)  any indexation provisions applicable to the pension; (j)  any bridging benefit or special allowance and the date on which the benefit ceases to be paid; (k)  any integration of the pension entitlement with pensions payable under the Canada Pension Plan, the Quebec Pension Plan or the Old Age Security Act (Canada) and the effect of such integration; (l)  in the case of a defined benefit plan, (i)  the transfer ratio of the pension plan as of the valuation date of the report filed most recently under section 13 or 14, (i.1)  the estimated transfer ratio calculated as of the end of the period covered by the statement, calculated in accordance with paragraph 7 of subsection 7.1 (3), and (ii)  an explanation of the transfer ratio and how it relates to the level of funding of retired members’ benefits; (m)  in the case of a statement required to be provided to a retired member before a report with a valuation date before December 31, 2017 is filed and where special payments are being made to liquidate any liability, a statement to that effect; (m.1)  in the case of a statement required to be provided to a retired member after a report with a valuation date on or after December 31, 2017 is filed and where special payments are being made in respect of any going concern unfunded liability, a statement to that effect; (m.2)  in the case of a statement required to be provided to a retired member after a report with a valuation date on or after December 31, 2017 is filed and where special payments are being made to liquidate any reduced solvency deficiency to increase the plan’s solvency ratio to 85 per cent, a statement to that effect; (n)  a statement setting out the treatment of any surplus in a continuing plan and on wind up; (o)  an explanation of any amendments affecting the retired member made to the pension plan during the period covered by the statement, if an explanation has not been provided under subsection 39 (1); (p)  for multi-employer pension plans and pension plans that provide defined benefits where the obligation of an employer to contribute to the pension fund is limited to a fixed amount set out in a collective agreement, (i)  a statement that the pension benefits established under the pension plan are not guaranteed by the Guarantee Fund, and (ii)  a statement that if, on wind up of the plan, the assets of the plan are not sufficient to meet the liabilities of the plan, pension benefits may be reduced; (q)  for a pension plan that is a jointly sponsored pension plan and that, in a report filed under section 3, 13 or 14, has specified a solvency deficiency that is lower than the amount of the solvency deficiency that would be calculated for the pension plan under subsection 1.3.1 (2), (i)  a statement that the pension benefits established under the pension plan are not guaranteed by the Guarantee Fund, (ii)  a statement that, on wind up of the pension plan, the Act allows pension benefits to be reduced if assets of the plan are not sufficient to meet the liabilities of the plan, and (iii)  if the most recent report filed under section 3, 13 or 14 for the pension plan has specified a solvency deficiency that is lower than would be calculated under subsection 1.3.1 (2), a statement that additional contributions are not being made by an employer (or a person or entity required to make contributions on behalf of an employer) or by members to eliminate the solvency funding shortfall determined in the most recently filed report; (q.1)  for a pension plan that is a jointly sponsored pension plan that received a transfer of assets under section 80.4 of the Act during the period covered by the statement, a description of any changes in the governance structure of the jointly sponsored pension plan, including the methods by which the decisions regarding the appointment of the administrator of the pension plan or the appointment or selection of persons as members of any body or entity referred to in clause 8 (1) (b), (c), (e), (f) or (h) of the Act that is the administrator of the pension plan, are made after the conversion and transfer of assets under section 80.4 of the Act; (r)  a statement that the administrator of the pension plan must establish a statement of investment policies and procedures for the plan that contains, (i)  the investment policies and procedures in respect of the plan’s portfolio of investments and loans, and (ii)  information about whether environmental, social and governance factors are incorporated into the plan’s investment policies and procedures and, if so, how those factors are incorporated; (s)  a statement that the administrator of the pension plan is required, under section 29 of the Act, (i)  to make available to the retired member for inspection without charge copies of any statements of investment policies and procedures that are established for the plan, and (ii)  upon receipt of a written request and payment of the applicable fee, to provide by mail or electronically copies of any statements of investment policies and procedures that are established for the plan; and (t)  a statement that the retired member is entitled, under section 30 of the Act, (i)  to inspect, at the office of the Chief Executive Officer during business hours of that office, the most recent statement of investment policies and procedures that is established for the plan, and (ii)  to make a written request and pay the applicable fee for the Chief Executive Officer to provide the most recent statement of investment policies and procedures by mail or electronically. O. Reg. 235/14, s. 4; O. Reg. 312/15, s. 5; O. Reg. 250/18, s. 33 (1-3); O. Reg. 105/19, s. 21; O. Reg. 149/19, s. 1. (2) The administrator of a pension plan that is registered on or before January 1, 2015 shall provide the statement required under subsection 27 (2) of the Act to retired members in accordance with the following rules: 1.  The administrator must provide the first statement no later than July 1, 2017. 2.  The administrator must provide a subsequent statement within every two-year period that begins on the day the previous statement was provided, but each statement must be provided within six months after the plan’s fiscal year end. O. Reg. 235/14, s. 4 (1). (3) The administrator of a pension plan that is registered after January 1, 2015 shall provide the statement required under subsection 27 (2) of the Act to retired members in accordance with the following rules: 1.  The administrator must provide the first statement within 18 months after the end of the plan’s first fiscal year. 2.  The administrator must provide a subsequent statement within every two-year period that begins on the day the previous statement was provided, but each statement must be provided within six months after the plan’s fiscal year end. O. Reg. 235/14, s. 4 (1). (3.1) Clauses (1) (r), (s) and (t) do not apply with respect to a pension plan where all the pension benefits provided under the pension plan are defined contribution benefits and the investments are directed entirely by the members. O. Reg. 66/22, s. 4. (4) For a plan that provides defined benefits, the first statement required to be provided to a retired member after a report with a valuation date on or after December 31, 2017 is filed shall also contain a description of how funding rules for pension plans have changed or will change as a result of amendments to this Regulation effective May 1, 2018, including at least the following information: 1.  A description of the difference between solvency funding and going concern funding. 2.  A statement that special payments are required under this Regulation for the purpose of increasing the plan’s funded ratio to 85 per cent, as measured on a solvency basis, and that this is a change from the previous requirement to make special payments for the purpose of increasing the plan’s funded ratio to 100 per cent, as measured on a solvency basis. 3.  A statement that before the amendments to this Regulation were made, going concern unfunded liabilities were amortized over 15 years and new payment schedules were added when needed but were not consolidated in each new report of the pension plan. 4.  A statement that as a result of the amendments to this Regulation, any going concern unfunded liability will be required to be amortized over 10 years and that the payment schedules will be consolidated in each new report of the pension plan. 5.  A statement that contributions for the provision for adverse deviations are required under this Regulation and are required to be funded on a going concern basis. O. Reg. 250/18, s. 33 (4). (5) Subsection (4) does not apply to a jointly sponsored pension plan listed in subsection 1.3.1 (3) or a specified Ontario multi-employer pension plan. O. Reg. 250/18, s. 33 (4).