Further election re solvency funding requirements
 7.5 (1) The administrator of the pension plan may elect to have all of the following rules apply to the pension plan: 1. For all valuation reports with a valuation date on or after December 31, 2017 and before December 31, 2020, the sufficiency of the required contributions is determined on the basis of a going concern valuation, despite subsection 6 (4.1) of the General Regulation. 2. For the purpose of subsection 7.0.2 (1) of the General Regulation, the available actuarial surplus for the period beginning on December 31, 2017 and ending on December 30, 2020 is zero. If special payments are deferred under paragraph 3 or 4 of this subsection, for the purpose of subsection 7.0.2 (1) of the General Regulation, the available actuarial surplus for the period beginning on December 31, 2020 and ending on December 30, 2021 is zero. 3. A solvency deficiency determined in an August 2011, August 2012, December 2013, December 2014, December 2015 or December 2016 valuation report must be liquidated, with interest at the rates described in subsection 5 (2) of the General Regulation, by equal monthly instalments over a five year period starting no later than December 31, 2021, despite paragraph 4 of subsection 4 (1) and paragraph 4 of subsection 7.1 (1) of this Regulation and clause 5 (1) (e) and subsections 5 (1.0.0.1) and (1.0.1) of the General Regulation. The monthly instalments are deemed to be special payments under subsection 5 (1) or (1.0.0.1) of the General Regulation, as the case may be, made for the purpose of liquidating a solvency deficiency. 4. A reduced solvency deficiency determined in a December 2017 valuation report or a valuation report with a valuation date after December 31, 2017 and before December 31, 2020 must be liquidated, with interest at the rates described in subsection 5 (2) of the General Regulation, by equal monthly instalments over a five year period starting no later than December 31, 2021, despite subsections 5 (1.0.0.1) and (1.0.1) of the General Regulation. The monthly instalments are deemed to be special payments under subsection 5 (1.0.0.1) of the General Regulation made for the purpose of liquidating a reduced solvency deficiency. 5. Despite clause 1.2 (1) (d.1) of the General Regulation, the solvency asset adjustment determined in a report under section 3 or 14 of the General Regulation with a valuation date on or after December 31, 2017 but before December 31, 2020 must include, i. the present value of special payments with respect to any going concern unfunded liability that are scheduled for payment within the period that begins on the valuation date of the report and ends on December 31, 2026, ii. the present value of special payments with respect to any reduced solvency deficiency – other than a reduced solvency deficiency determined in the report – that are scheduled for payment within the period that begins on the valuation date of the report and ends on December 31, 2026, and iii. the present value of special payments with respect to any solvency deficiency that are scheduled for payment within the period that begins on the valuation date of the report and ends on December 31, 2026. 6. No amendment to the pension plan that increases the going concern unfunded liability or the solvency deficiency may be filed before the later of December 31, 2021 and the date on which no special payments with respect to the solvency deficiencies referred to in paragraph 3 or the reduced solvency deficiencies referred to in paragraph 4 are scheduled for payment. However, this restriction does not apply with respect to an amendment made to confer a benefit improvement that is required by law. O. Reg. 259/18, s. 3. (2) The election must be made in writing and must be filed with the Superintendent no later than September 30, 2018. O. Reg. 259/18, s. 3. (3) The election may be made only once and cannot be rescinded. O. Reg. 259/18, s. 3.