jswizzle3737/ontario_laws_and_regs huggingface dataset:
Purpose
 1. (1) This Regulation implements, in part, certain agreements involving Ontario, Quebec and AbiBow Canada Inc. relating to the funding of the Ontario pension plans listed in Schedule 1 and the Quebec pension plans listed in Schedule 2.  O. Reg. 196/11, s. 1 (1). (2) The agreements provide for aggregate funding of all of these pension plans during a specified period and for the apportionment of the aggregate funding among them.  O. Reg. 196/11, s. 1 (2). Interpretation
Interpretation
 2. (1) In this Regulation, expressions relating to the Ontario pension plans have the same meaning as in the General Regulation, except where otherwise indicated, and expressions relating to the Quebec pension plans have the same meaning as in the Quebec Regulation.  O. Reg. 196/11, s. 2 (1). (2) In this Regulation, “General Regulation” means Regulation 909 of the Revised Regulations of Ontario, 1990 (General) made under the Act; (règlement general) “Ontario pension plan” means a pension plan listed in Schedule 1 that is registered under the Act; (régime de retraite de l’Ontario) “Quebec pension plan” means a pension plan listed in Schedule 2 that is registered with the Régie des rentes du Québec under the Supplemental Pension Plans Act, R.S.Q., c. R-15.1; (régime de retraite du Québec) “Quebec Regulation” means O.C. 856-2011 (Regulation respecting supplemental pension plans affected by the arrangement regarding AbitibiBowater Inc. under the Companies’ Creditors Arrangement Act) made under the Supplemental Pension Plans Act,  R.S.Q. c. R-15.1. (“règlement québécois”)  O. Reg. 196/11, s. 2 (2); O. Reg. 71/12, s. 1.
Participating Ontario pension plans
 3. (1) For the purposes of this Regulation, an Ontario pension plan is a participating Ontario pension plan until the earliest of the following dates: 1. December 31, 2020. 2. December 31 of the earlier year that is specified by the employer in an election filed under subsection (2). 3. The valuation date of a report filed under this Regulation that indicates that the plan is fully funded.  O. Reg. 196/11, s. 3 (1). (2) The employer may elect to have a particular Ontario pension plan cease to be a participating plan on December 31 of a year before 2020, and the employer shall file the election in writing before that date.  O. Reg. 196/11, s. 3 (2). (3) However, a pension plan immediately ceases to be a participating Ontario pension plan if, at any time, it provides pension benefits in respect of employment after December 31, 2010.  O. Reg. 196/11, s. 3 (3).
Participating Quebec pension plans
 4. (1) For the purposes of this Regulation, a Quebec pension plan is a participating Quebec pension plan until the earliest of the following dates: 1. December 31, 2020. 2. The date on which the pension plan ceases under subsection (2) to be a participating pension plan. 3. The date as of which the pension plan is fully funded, according to an annual combined report filed under section 35.  O. Reg. 196/11, s. 4 (1). (2) If, under the Quebec Regulation, the applicable employer makes an election that a particular pension plan ceases to be a participating pension plan under that regulation, the pension plan also ceases to be a participating Quebec pension plan under this Regulation on the same date.  O. Reg. 196/11, s. 4 (2). Framework for Funding Relief
Framework for Funding Relief
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Overview of contributions and other payments to the Ontario pension plans
 5. (1) The employer is required to make the following contributions to each Ontario pension plan in accordance with this Regulation: 1. Annual basic amortization contributions to the pension plan, as described in section 7 or 8, as the case may be. 2. An additional contribution to the pension plan for the period that begins on July 1, 2013 and ends on June 30, 2014, as described in section 7.1. 3. Supplemental contributions to the pension plan beginning in 2016, in the circumstances described in section 9 and as described in that section. 4. Special contributions to the pension plan with respect to a reduction before April 15, 2014 in the employer’s pulp and paper production capacity in Ontario or Quebec, as described in section 11. O. Reg. 105/14, s. 2 (1); O. Reg. 464/16, s. 1. (2) If benefit improvements are made under a participating Ontario pension plan, the special payment that may be required to fund the benefit improvements must be made in accordance with section 13.  O. Reg. 196/11, s. 5 (2). (3) If the employer wishes to make voluntary contributions to any participating Ontario pension plan, the voluntary contributions described in section 14 may only be made in accordance with section 14.  O. Reg. 196/11, s. 5 (3). (4) Despite sections 7 to 14, the employer (or a person or entity required to make contributions on behalf of the employer) is not required to make contributions to a pension plan that would exceed the limit under the Income Tax Act (Canada) for eligible contributions.  O. Reg. 196/11, s. 5 (4); O. Reg. 105/14, s. 2 (2). (5) To the extent that subsection (4) applies to a pension plan, contributions, if any, under sections 7 to 11 that would exceed the limit under the Income Tax Act (Canada) for eligible contributions should be reallocated in accordance with the rules of the respective section as if the plan had ceased to be a participating pension plan.  O. Reg. 196/11, s. 5 (5).
Joint election to defer certain contributions
 6. (1) The administrators of all of the participating Ontario pension plans may jointly file an election with the Superintendent to defer the payment of certain contributions. O. Reg. 105/14, s. 3. (2) The joint election must be filed before May 15, 2014 and it cannot be withdrawn. O. Reg. 105/14, s. 3. (3) If the joint election is filed in accordance with this section, the employer is required after April 14, 2014 to make deferred contributions in accordance with this Regulation to each Ontario pension plan, as described in sections 16 and 17. O. Reg. 105/14, s. 3. (4) If no joint election is filed in accordance with this section, the employer’s obligation after April 14, 2014 to make the contributions required by section 8, as it read on April 14, 2014, and to take the corrective measures required by sections 15 and 16, as they read on April 14, 2014, is not affected by the revocation of those sections. O. Reg. 105/14, s. 3. (5) If no joint election is filed in accordance with this section, the employer’s obligation after April 14, 2014 to give the Superintendent the notices and actuarial cost certificates required by section 16, as it read on April 14, 2014, is not affected by the revocation of that section. O. Reg. 105/14, s. 3. (6) If no joint election is filed in accordance with this section, the employer’s obligation after April 14, 2014 to give the Superintendent information and documents upon request under section 25, as it read on April 14, 2014, is not affected by the revocation of that section. O. Reg. 105/14, s. 3. (7) If no joint election is filed in accordance with this section, the employer’s obligation after April 14, 2014 to prepare and file the reports required by section 31, as it read on April 14, 2014, is not affected by the amendment of that section. O. Reg. 105/14, s. 3. Annual Basic Amortization Contributions
Annual Basic Amortization Contributions
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Adjustment to basic amortization contribution for 2013-2014
 7.1 (1) The employer (or a person or entity required to make contributions on behalf of the employer) shall make the contribution that is required by this section to each of the participating Ontario pension plans with respect to the 12-month period that begins on July 1, 2013 and ends on June 30, 2014. O. Reg. 105/14, s. 6 (2) The amount of the contribution that must be made to a particular participating Ontario pension plan with respect to this period is calculated using the formula, $45 million × D/E in which, “D” is the amount of the adjusted solvency deficiency of the plan as of December 31, 2012, and “E” is the sum of the adjusted solvency deficiencies for every participating pension plan as of December 31, 2012. O. Reg. 105/14, s. 6 (3) The contribution to a particular participating Ontario pension plan must be paid no later than June 30, 2014. O. Reg. 105/14, s. 6
Other Contributions and Payments
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Amortization of aggregate supplemental contributions
 10. (1) This section applies with respect to each year in which section 9 also applies.  O. Reg. 196/11, s. 10 (1). (2) The amount of the aggregate supplemental contribution to be made with respect to a year in which section 9 applies is the greater of zero and the amount calculated using the formula, V − W in which, “V” is the sum of all payments made in the previous year from every participating pension plan for unfunded benefits, as determined under subsection 9 (13), and “W” is the sum of all basic amortization contributions made during the previous year to every participating pension plan. O. Reg. 105/14, s. 10. (3) Despite subsection (2), the amount of the aggregate supplemental contribution to be made with respect to the first year in which section 9 applies is the lesser of $25 million and the amount determined under subsection (2).  O. Reg. 196/11, s. 10 (3). (4) The aggregate supplemental contribution to be made with respect to a particular year — other than the first year in which section 9 applies — may be amortized over three years.  O. Reg. 196/11, s. 10 (4). (5) If the aggregate supplemental contribution with respect to a particular year is amortized, it is payable in equal annual instalments during each of the three years that begin with the particular year, together with interest calculated at the same rate effective December 31 of the previous year that would be used to determine the minimum commuted value of a pension, deferred pension or ancillary benefit under subsection 29 (2) of the General Regulation.  O. Reg. 196/11, s. 10 (5). (6) For the purposes of the calculations under section 9, the amount of the aggregate supplemental contribution that is payable during a particular year to all participating pension plans is the sum of the following amounts: 1. The amount of the aggregate supplemental contribution to be made with respect to the year, if that amount is not amortized under subsection (4). 2. The amounts, if any, that are payable under subsection (5) during the year, if the amount of the aggregate supplemental contribution for the year and any of the two preceding years has been amortized under subsection (4).  O. Reg. 196/11, s. 10 (6).
Special contributions re reduction in pulp and paper production capacity in Ontario
 11. (1) The administrator of a participating Ontario pension plan shall notify the Superintendent if, under an agreement referred to in section 1, a special contribution to one or more participating Ontario pension plans is required as a result of a reduction in the employer’s pulp and paper production capacity in Ontario or Quebec before April 15, 2014.  O. Reg. 196/11, s. 11 (1); O. Reg. 105/14, s. 11 (1). (2) The notice to the Superintendent must contain particulars of the special contribution required under the agreement.  O. Reg. 196/11, s. 11 (2). (3) The employer (or a person or entity required to make contributions on behalf of the employer) shall make the special contribution to the participating Ontario pension plans in accordance with this section.  O. Reg. 196/11, s. 11 (3). (4) The amount of the special contribution that must be made to a particular participating Ontario pension plan for a year is calculated using the formula, Y × Z/AA in which, “Y” is the aggregate amount of the special contribution that, under section 12, is payable during the year to all participating pension plans, “Z” is the amount of the adjusted solvency deficiency of the particular pension plan as of December 31 of the previous year, and “AA” is the sum of the adjusted solvency deficiencies of all participating pension plans as of December 31 of the previous year. O. Reg. 196/11, s. 11 (4); O. Reg. 105/14, s. 11 (2). (5) Any special contribution payable for a year is payable as a lump sum on or before July 31.  O. Reg. 196/11, s. 11 (5). (6) If an Ontario or Quebec pension plan ceases to be a participating pension plan before the special contribution for a year is paid under this section (or under the corresponding provision of the Quebec Regulation), the amount of the unpaid special contribution to be made to that pension plan shall be reallocated among the remaining participating pension plans in accordance with the formula set out in subsection (4).  O. Reg. 196/11, s. 11 (6); O. Reg. 105/14, s. 11 (3). (7) The portion of the special contribution reallocated to a particular participating Ontario pension plan is payable to the pension plan in the same year as it would have been payable to the formerly-participating pension plan.  O. Reg. 196/11, s. 11 (7). (8) At the Superintendent’s request, the administrator shall give the Superintendent such information and documents as the Superintendent may specify relating to the special contributions.  O. Reg. 196/11, s. 11 (8).
Amortization of aggregate special contributions
 12. (1) This section applies if, under an agreement referred to in section 1, a special contribution to one or more participating Ontario pension plans is required for a year as a result of a reduction in the employer’s pulp and paper production capacity in Ontario or Quebec.  O. Reg. 196/11, s. 12 (1). (2) The aggregate amount of the special contribution that is required for a particular year under the agreement may be amortized over four years.  O. Reg. 196/11, s. 12 (2). (3) If the aggregate amount for a particular year is amortized, it is payable in equal annual instalments during each of the four years that begin with the particular year, together with interest calculated at the same rate effective December 31 of the previous year that would be used to determine the minimum commuted value of a pension, deferred pension or ancillary benefit under subsection 29 (2) of the General Regulation.  O. Reg. 196/11, s. 12 (3). (4) For the purposes of the calculations under section 11, the aggregate amount of the special contribution that is payable during a particular year to all participating pension plans is the sum of the following amounts: 1. The aggregate amount of the special contribution that is required for the particular year, if that amount is not amortized under subsection (2). 2. The amounts, if any, that are payable under subsection (3) during the year, if the aggregate amount of the special contribution for the year and any of the three preceding years has been amortized under subsection (2).  O. Reg. 196/11, s. 12 (4).
Special payment for benefit improvements
 13. (1) If benefit improvements are made under a participating Ontario pension plan, the employer (or a person or entity required to make contributions on behalf of the employer) shall make a special payment in accordance with this section to fund the additional liabilities related to the benefit improvements.  O. Reg. 196/11, s. 13 (1). (1.1) Subsection (1) does not apply with respect to benefit improvements that are required by law.  O. Reg. 180/12, s. 1. (2) The amount of the special payment is the greater of “BB” and “CC” where, “BB”  is the increase in going concern liabilities attributable to the benefit improvements, determined as of the effective date of the benefit improvements, and “CC”  is the increase in solvency liabilities attributable to the benefit improvements, determined as of the same date. O. Reg. 196/11, s. 13 (2). (3) The special payment (together with interest from the effective date of the benefit improvements) is payable as a lump sum not more than 30 days after the report is filed under section 3 of the General Regulation.  O. Reg. 196/11, s. 13 (3). (4) For the purposes of this Regulation, benefit improvements are made under a pension plan if an amendment to the plan affects the pensions, pension benefits or ancillary benefits provided by the plan and increases the amount of the normal cost, the going concern unfunded liabilities or the solvency deficiencies of the plan and if the amendment is filed on or after the day this Regulation comes into force.  O. Reg. 196/11, s. 13 (4).
Voluntary contributions
 14. (1) This section applies if the employer (or a person or entity required to make contributions on behalf of the employer) wishes to make a contribution (a “voluntary contribution”) to any participating pension plan for a year and the contribution is not required under any other provision of this Regulation and is not a lump sum payment referred to in paragraph 3 of subsection 20 (2) to fund transfer deficiencies.  O. Reg. 196/11, s. 14 (1). (2) If the employer wishes to make a voluntary contribution to one or more participating pension plans for a year, the employer (or a person or entity required to make contributions on behalf of the employer) shall make contributions to the participating Ontario pension plans in accordance with this section.  O. Reg. 196/11, s. 14 (2). (3) Revoked:  O. Reg. 105/14, s. 12 (1). (4) The amount of the voluntary contribution that must be made to a particular participating Ontario pension plan for a year is calculated using the formula, DD × Z/AA in which, “DD” is the amount of the voluntary contribution for the year to be made to all participating pension plans, “Z” is the amount of the adjusted solvency deficiency of the particular pension plan as of December 31 of the previous year, and “AA” is the sum of the adjusted solvency deficiencies of all participating pension plans as of December 31 of the previous year. O. Reg. 196/11, s. 14 (4); O. Reg. 105/14, s. 12 (2). (5) Any voluntary contribution payable for a year is payable as a lump sum.  O. Reg. 196/11, s. 14 (5); O. Reg. 105/14, s. 12 (3). (6) For the purposes of the definition of “B” in subsection 5 (16) of the General Regulation, the total amount of contributions does not include a voluntary contribution made to a participating Ontario pension plan under this section if the contribution is required under an agreement referred to in section 1. O. Reg. 105/14, s. 12 (4). Transition for Deferral of Contributions
Transition for Deferral of Contributions
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Transition, annual reports
 15. (1) This section applies if a joint election is filed in accordance with section 6. O. Reg. 105/14, s. 13. (2) No later than June 30, 2014, the administrator of each participating Ontario pension plan shall file an annual report for the pension plan, prepared with a valuation date of December 31, 2012, that complies with the requirements of subsection 31 (3) as it read on December 31, 2012. O. Reg. 105/14, s. 13. (3) No later than June 30, 2014, the administrator of each participating Ontario pension plan shall file an annual combined report about all of the pension plans, prepared with a valuation date of December 31, 2012, that complies with the requirements of subsection 35 (4) as it read on December 31, 2012. O. Reg. 105/14, s. 13. (4) The annual report required by subsection (2) and the annual combined report required by subsection (3) must also contain the information required by subsection 31 (3), as it reads on April 15, 2014, with respect to the contribution required by section 7.1 and the deferred contributions required by sections 16 and 17. O. Reg. 105/14, s. 13.
Deferral re: additional contribution
 16. (1) This section applies if, (a) a joint election is filed in accordance with section 6; and (b) the annual combined report filed under subsection 15 (3) discloses that the aggregate solvency ratio as of December 31, 2012 for all participating pension plans is less than the target aggregate solvency ratio as of the same date. O. Reg. 105/14, s. 13. (2) The employer (or a person or entity required to make contributions on behalf of the employer) shall make an additional contribution in accordance with this section to a participating Ontario pension plan for 2013, and the amount of the additional contribution is calculated in accordance with subsections 8 (2) and (3) as they read on December 31, 2012. O. Reg. 105/14, s. 13. (3) Payments to liquidate the amount of the additional contribution for 2013, with interest commencing on August 1, 2013 at the rate used for the solvency valuation in the annual report filed under subsection 15 (2), shall be made in equal monthly instalments over a period of five years beginning no later than December 31, 2021, despite subsection 8 (4) as it read on December 31, 2012. O. Reg. 105/14, s. 13. (4) For the purposes of subsections 1.2 (1) and (2) of the General Regulation, the solvency asset adjustment must also include the present value of the payments described in subsection (3). O. Reg. 105/14, s. 13. (5) Despite clauses 5 (1) (e) and 5 (1.0.0.1) (g) and subsection 5 (1.0.1) of the General Regulation, the payments described in subsection (3) are deemed to be special payments under subsection 5 (1) or 5 (1.0.0.1) of the General Regulation, as applicable, made for the purpose of liquidating a solvency deficiency. O. Reg. 251/18, s. 2. (6) Subsection 5 (1.0.1) of the General Regulation does not apply to a participating Ontario pension plan in respect of the additional contribution. O. Reg. 105/14, s. 13.
Other Payments and Transfers
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Wind up of participating pension plans
 18. (1) Subsection 75 (1) of the Act does not apply with respect to the partial wind up of a participating pension plan with an effective date on or after the day this Regulation comes into force.  O. Reg. 196/11, s. 18 (1). (2) Subsection 75 (1) of the Act does not apply with respect to the partial wind up of a participating pension plan with an effective date prior to the day this Regulation comes into force unless a report was filed under section 32 of the General Regulation before the day this Regulation comes into force certifying that there is no further amount to be funded under section 75 of the Act.  O. Reg. 196/11, s. 18 (2). (3) However, if the participating pension plan is subsequently wound up in whole, the employer (or a person or entity required to make contributions on behalf of the employer) shall pay into the pension fund the unpaid amount that would have been due under subsection 75 (1) of the Act with respect to the partial wind up, but for the application of subsection (1) or (2).  O. Reg. 196/11, s. 18 (3). (4) The liability created by subsection (3) shall be funded by the employer by special payments payable in equal amounts annually in advance over a period not exceeding five years from the effective date of the wind up of the pension plan in whole.  O. Reg. 196/11, s. 18 (4).
Partial wind up, transfers for former members
 19. (1) This section applies after a wind up report is filed for the partial wind up of a participating pension plan.  O. Reg. 196/11, s. 19 (1). (2) With the approval of the Superintendent under subsection 70 (3) of the Act, a member of the pension plan who is affected by the partial wind up may require the administrator to transfer under subsection 42 (1) of the Act an amount equal to the commuted value of the member’s deferred pension.  O. Reg. 196/11, s. 19 (2). (3) If the Superintendent approves the transfers described in subsection (2), a statement containing the information required by subsection 72 (1) of the Act must be given to the persons affected by the approval within 60 days after the administrator receives notice of the approval.  O. Reg. 196/11, s. 19 (3). (4) Subsections 70 (2) and (4) of the Act and subsection 28 (2.1) of the General Regulation do not apply if the Superintendent approves the transfers described in subsection (2).  O. Reg. 196/11, s. 19 (4). (5) Clause 29 (8) (b) of the General Regulation does not apply with respect to the partial wind up.  O. Reg. 196/11, s. 19 (5).
Transfer of commuted value
 20. (1) This section applies with respect to a transfer under subsection 42 (1) of the Act of the commuted value of a former member’s pension, deferred pension or ancillary benefit from a participating pension plan by a member who terminates membership in the plan whether in the normal course or as part of a partial wind up referred to in section 19.  O. Reg. 196/11, s. 20 (1). (2) Section 19 of the General Regulation applies with respect to the transfer, with the following modifications: 1. Clause 19 (6) (b) of the General  Regulation does not apply with respect to the transfer. 2. Despite subsection 19 (7) of the General Regulation, if less than 100 per cent of the commuted value of a pension, deferred pension or ancillary benefit is transferred, the balance shall be transferred by the administrator five years after the date of the initial transfer. 3. However, the balance shall be transferred in less than five years if a lump sum payment was made to the pension plan at an earlier date to fund the transfer deficiency, and if that lump sum payment was made in addition to the contributions required by sections 7 to 13. 4. If, after the initial transfer is made, the pension plan ceases to be a participating pension plan, the employer (or person or entity required to make contributions on behalf of the employer) shall make contributions to fund any remaining transfer deficiency within five years after the initial payment.  Those contributions must be made in addition to those for the normal cost and the special payments required under subsection 4 (2) of the General Regulation. 5. The contributions required by paragraph 4 must be made annually in advance and no later than January 31 of each year. 6. The contributions required by paragraph 4 are deemed to be special payments under clause 5 (1) (e) of the General Regulation for purposes of the calculation of present value referred to in clause 1.2 (1) (d) of the General Regulation.  O. Reg. 196/11, s. 20 (2); O. Reg. 105/14, s. 14; O. Reg. 251/18, s. 4. 7. The contributions required by paragraph 4 are deemed to be special payments under clause 5 (1.0.0.1) (f) of the General Regulation for purposes of the calculation of present value referred to in clause 1.2 (1) (d.1) of the General Regulation. O. Reg. 196/11, s. 20 (2); O. Reg. 105/14, s. 14; O. Reg. 251/18, s. 4.
Payment of Guarantee Fund assessment
 21. (1) The administrator of a participating pension plan shall not use contributions made under sections 7 to 13 or under paragraph 3 or 4 of subsection 20 (2) (or under the corresponding provisions of the Quebec Regulation) to pay the annual Guarantee Fund assessment for the pension plan.  O. Reg. 196/11, s. 21 (1); O. Reg. 105/14, s. 15. (2) Nothing in this Regulation relieves an employer from the obligation under section 37 of the General Regulation to pay the annual Guarantee Fund assessment for a participating pension plan.  O. Reg. 196/11, s. 21 (2).
Guarantee Fund, calculation of guaranteed benefits
 22. (1) This section applies if an order is made under subsection 83 (1) of the Act declaring that the Guarantee Fund applies to a participating pension plan.  O. Reg. 196/11, s. 22 (1). (2) For the purpose of determining the amount that the administrator is required by subsection 34 (3) of the General Regulation to pay to each person who is entitled on wind up to payment of benefits or other amounts guaranteed by the Guarantee Fund, the amount calculated under this section shall be substituted for the amount of the variable “A” in paragraph 2 of that subsection.  O. Reg. 180/12, s. 2 (1). (3) The substitute amount is calculated using the formula, (EE – FF + GG) × HH in which, “EE”  is 100 per cent, “FF” is the solvency ratio of the pension plan as of December 31, 2010, “GG” is the lesser of FF and the ratio D/E, where “D” and “E” have the same meaning as in paragraph 1 of subsection 34 (4) of the General Regulation. “HH” is the sum of the benefits and other amounts for the person that are included in the calculation of the Guaranteed Benefit liability under subsection 34 (5) of the General Regulation. O. Reg. 196/11, s. 22 (3); O. Reg. 180/12, s. 2 (2, 3). (4) This section ceases to apply with respect to a pension plan on the later of the following dates: 1. The date on which the pension plan ceases to be a participating pension plan. 2. The date that is three years after the date specified in the election filed under subsection 3 (2) for an Ontario pension plan or under the corresponding provision of the Quebec Regulation for a Quebec pension plan.  O. Reg. 196/11, s. 22 (4). Financial and Actuarial Matters
Financial and Actuarial Matters
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Adjusted solvency assets
 23. The adjusted solvency assets of an Ontario pension plan as of a particular valuation date is the amount of the solvency assets of the plan excluding, (a) any estimated wind up expenses; and (b) any accrued or receivable contributions not yet received as of the filing date of the report required by this Regulation with respect to the valuation date.  O. Reg. 196/11, s. 23.
Adjusted solvency deficiency
 24. The adjusted solvency deficiency of an Ontario pension plan as of a particular valuation date is the amount, if any, by which the solvency liabilities exceed the adjusted solvency assets of the pension plan.  O. Reg. 196/11, s. 24. 25. Revoked: O. Reg. 105/14, s. 16.
Full funding of Ontario pension plans
 26. An Ontario pension plan is considered to be fully funded as of a particular valuation date, for the purposes of this Regulation, if either of the following criteria is satisfied: 1. The solvency assets of the pension plan are equal to or greater than its solvency liabilities as of the valuation date. 2. After the valuation date, no special payments would have been required under either of the following provisions if the provisions had applied to the Ontario pension plan on the valuation date: i. Subsection 5 (1) of the General Regulation. ii. Section 5.6 of the General Regulation, as that section read immediately before May 1, 2018. O. Reg. 196/11, s. 26; O. Reg. 251/18, s. 5.
Various ratios about solvency
 27. (1) The solvency ratio of an Ontario pension plan as of a particular valuation date is calculated by dividing the solvency assets by the solvency liabilities.  O. Reg. 196/11, s. 27 (1). (2) The adjusted solvency ratio of an Ontario pension plan as of a particular valuation date is calculated by dividing the adjusted solvency assets by the solvency liabilities.  O. Reg. 196/11, s. 27 (2). (3) The aggregate solvency ratio of all of the participating pension plans as of a particular valuation date is the amount calculated using the formula, (JJ – KK) / LL in which, “JJ” is the sum of the adjusted solvency assets of all of the participating pension plans, “KK” is the sum of all special contributions made under section 11 to all of the participating pension plans, and “LL”  is the sum of the solvency liabilities of all of the participating pension plans. O. Reg. 196/11, s. 27 (3). (4) The target solvency ratio of an Ontario pension plan as of a particular valuation date is the lesser of 100 per cent and the percentage determined by adding the following percentage to the adjusted solvency ratio of the plan as of December 31, 2010: 1. For December 31, 2011 and 2012, 0 per cent. 2. For December 31, 2013 and 2014, 1 per cent. 3. For December 31, 2015, 2 per cent. 4. For December 31, 2016, 3 per cent. 5. For December 31, 2017, 5 per cent. 6. For December 31, 2018, 8 per cent. 7. For December 31, 2019, 10 per cent.  O. Reg. 196/11, s. 27 (4). (5) The target aggregate solvency ratio of all of the participating pension plans as of a particular valuation date is the lesser of 100 per cent and the percentage determined by adding the following percentage to the aggregate solvency ratio as of December 31, 2010: 1. For December 31, 2011 and 2012, 0 per cent. 2. For December 31, 2013 and 2014, 1 per cent. 3. For December 31, 2015, 2 per cent. 4. For December 31, 2016, 3 per cent. 5. For December 31, 2017, 5 per cent. 6. For December 31, 2018, 8 per cent. 7. For December 31, 2019, 10 per cent.  O. Reg. 196/11, s. 27 (5). (6) The target minimum aggregate solvency ratio of all of the participating pension plans as of a particular valuation date is calculated by subtracting 2 per cent from the target aggregate solvency ratio.  O. Reg. 196/11, s. 27 (6). (7) The ratios are expressed as a percentage and are rounded to the nearest 0.1 per cent.  O. Reg. 196/11, s. 27 (7). Reports to the Superintendent
Reports to the Superintendent
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Overview of reports
 28. (1) The administrator of each Ontario pension plan shall prepare and file the following reports in accordance with this Regulation: 1.-4.  Revoked: O. Reg. 105/14, s. 17 (1). 5. An annual report for the pension plan, prepared with a valuation date of December 31 in 2013 and in each subsequent year in which the pension plan is a participating Ontario pension plan. 6. An annual combined report for all participating pension plans, prepared as of December 31 in 2013 and in each subsequent year in which the pension plan is a participating Ontario pension plan. 7. A final report as of the date on which the pension plan ceases to be a participating Ontario pension plan.  O. Reg. 196/11, s. 28 (1); O. Reg. 105/14, s. 17 (2, 3). (2) The reports described in paragraphs 5 and 7 of subsection (1) that are prepared and filed in accordance with this Regulation are deemed, for the purposes of the General Regulation, to have been prepared and filed under section 3 or 14 of that regulation, as the case may be.  O. Reg. 196/11, s. 28 (2); O. Reg. 105/14, s. 17 (4). (3) For the purposes of subsection 4 (5) of the General Regulation, the most recent of the annual reports or final report prepared and filed in accordance with this Regulation is considered to be the most recently filed report for the pension plan.  O. Reg. 196/11, s. 28 (3). (4) The reports described in subsection (1) must be prepared by an actuary and the actuary shall certify that the reports were prepared using methods and actuarial assumptions that are consistent with accepted actuarial practice and with the requirements of the Act, this Regulation and the General Regulation, as applicable.  O. Reg. 196/11, s. 28 (4); O. Reg. 105/14, s. 17 (5). (5) Where a report requires information to be provided about contributions and payments to the Quebec pension plans, references to a provision of this Regulation shall be read as if the reference were to the corresponding provision of the Quebec Regulation.  O. Reg. 196/11, s. 28 (5). 29., 30. Revoked: O. Reg. 105/14, s. 18.
Final report, participating Ontario pension plans
 32. (1) The administrator of an Ontario pension plan shall cause the pension plan to be reviewed and shall file a final report using as a valuation date the date on which the pension plan ceases to be a participating plan.  O. Reg. 196/11, s. 32 (1). (2) The final report must be filed within nine months after the valuation date.  O. Reg. 196/11, s. 32 (2). (3) The final report must satisfy the requirements of sections 3 and 14 of the General Regulation, as applicable in the circumstances, and must be prepared in accordance with such other provisions of the General Regulation as apply with respect to reports under those sections.  O. Reg. 196/11, s. 32 (3). 33., 34. Revoked: O. Reg. 105/14, s. 20.
Extension of time
 35.1 Reports referred to in subsection 6 (5) and sections 15, 17, 31 and 35 and actuarial cost certificates referred to in subsection 6 (5) are prescribed documents for the purposes of paragraph 1 of subsection 105 (2) of the Act (filing deadlines). O. Reg. 105/14, s. 22. Information for Members, Former Members and Retired Members
Information for Members, Former Members and Retired Members
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Statement for members, former members and retired members
 36. (1) Each year, the administrator of a participating Ontario pension plan shall give a statement to the members, former members and retired members described in this section at their last known address.  O. Reg. 180/12, s. 3 (1). (2) The statement must contain the following information: 1. The name and registration number of the pension plan. 2. The administrator’s name and contact information. 3. The name of the member, former member or retired member, and a statement indicating whether he or she is a member, former member or retired member of the pension plan. 4. For a member of the pension plan, a statement indicating whether he or she is represented by a trade union as of the date of the statement. 5. An explanation of how the security of the pension benefits and the ancillary benefits for members, former members and retired members might be affected as a result of the operation of this Regulation. 6. The amount of the solvency deficiency of the pension plan as of the valuation date of the most recent annual report. 7. The transfer ratio of the pension plan as of that valuation date. 8. The amount of the contributions and payments required by sections 6 to 14 to be made to the pension plan during the one-year period immediately after that valuation date. 9. The amount of all special payments that — but for this Regulation — would have been required under the General Regulation to be made during the year after the valuation date of the most recent prior report.  O. Reg. 196/11, s. 36 (2); O. Reg. 180/12, s. 3 (2, 3). (3) The administrator is required to give the statement to each member who, under the pension plan, has a pension benefit that includes a defined benefit.  O. Reg. 196/11, s. 36 (3). (4) The administrator is required to give the statement to each former member whose deferred pension includes a defined benefit, but not to a former member who no longer has any entitlement to payments from the pension plan.  O. Reg. 180/12, s. 3 (4). (5) The administrator is required to give the statement to each retired member whose pension includes a defined benefit, but not to a retired member who no longer has any entitlement to payments from the pension plan.  O. Reg. 180/12, s. 3 (4). (6) However, no statement is required if the administrator has received notice of the death of the member, former member or retired member.  O. Reg. 180/12, s. 3 (4).
Statement for bargaining agents
 37. (1) Each year, the administrator of a participating Ontario pension plan shall give a statement to any trade union that represents members of the pension plan who are entitled to receive the statement under section 36.  O. Reg. 196/11, s. 37 (1). (2) The statement must contain the information described in paragraphs 1, 2 and 5 to 9 of subsection 36 (2).  O. Reg. 196/11, s. 37 (2). Exemptions
Ontario pension plans
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Quebec pension plans
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