jswizzle3737/ontario_laws_and_regs huggingface dataset:
Application of Regulation
 1. This Regulation applies with respect to every transfer of assets under section 80 or 81 of the Act from an original pension plan to a successor pension plan. O. Reg. 310/13, s. 1.
Interpretation
 2. (1) Expressions used in this Regulation have the same meaning as in the General Regulation, unless the context requires otherwise. O. Reg. 310/13, 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 général”) “Schedule” means Schedule to this Regulation. (“annexe”) O. Reg. 310/13, s. 2 (2); O. Reg. 253/18, s. 1.
Effective date of transfer under s. 80 of the Act
 3. The effective date of a transfer of assets under section 80 of the Act from the original pension plan to the successor pension plan is the effective date of the sale, assignment or disposition of all or part of the original employer’s business or all or part of the assets of the business to the successor employer. O. Reg. 310/13, s. 3.
Effective date of transfer under s. 81 of the Act
 4. The effective date of a transfer of assets under section 81 of the Act from the original pension plan to the successor pension plan is the effective date of the amendment to the original pension plan or the successor pension plan, as the case may be, that purports to give effect to the transfer. O. Reg. 310/13, s. 4.
Applying for Chief Executive Officer’s consent to transfer of assets
 5. (1) An application under subsection 80 (11) of the Act for the Chief Executive Officer’s consent to a transfer of assets under section 80 of the Act must include the information required by Schedule 1. O. Reg. 310/13, s. 5 (1); O. Reg. 154/19, s. 1 (2). (2) An application under subsection 81 (5) of the Act for the Chief Executive Officer’s consent to a transfer of assets under section 81 of the Act  must include the information required by Schedule 2. O. Reg. 310/13, s. 5 (2); O. Reg. 154/19, s. 1 (2). (3) The application must be filed within nine months after the effective date of the transfer. O. Reg. 310/13, s. 5 (3). (3.1) Revoked: O. Reg. 288/20, s. 1 (2). (4) An application under subsection 80 (11) or 81 (5) of the Act is a prescribed document for the purposes of paragraph 1 of subsection 105 (2) of the Act (extension of time). O. Reg. 310/13, s. 5 (4). (5) A copy of the application, and a copy of the documents filed in support of the application (including any subsequent revisions and any subsequent valuation reports), must be provided to each trade union that represents members and former members of the original pension plan or the successor pension plan and to each advisory committee established under section 24 of the Act for either pension plan. O. Reg. 310/13, s. 5 (5). (6) Personal information about an individual must be excluded from the copies of the application and documents provided to a trade union or advisory committee under subsection (5), unless the individual has given his or her prior consent to the disclosure of the information. O. Reg. 310/13, s. 5 (6).
Notice re completion of transfer
 6. (1) Within 60 days after a transfer of assets under section 80 or 81 of the Act has been completed, the administrators of the original pension plan and the successor pension plan shall file the following documents: 1.  A statement certifying that the transfer of assets has been made in accordance with the Act and regulations. 2.  For a transfer of assets in respect of defined benefits, an actuarial cost certificate that satisfies the requirements of section 7.1 of the General Regulation and indicates the amount of assets transferred from the original pension plan to the successor pension plan. 3.  For a transfer of assets in respect of defined contribution benefits, a statement that indicates the amount of assets transferred from the original pension plan to the successor pension plan.  The statement must be prepared by a person who is authorized under subsection 15 (2) of the General Regulation to prepare reports and certificates with respect to the defined contribution benefits. O. Reg. 310/13, s. 6. (2) Revoked: O. Reg. 288/20, s. 2 (2).
Criterion re commuted value of benefits
 7. (1) The commuted value of benefits referred to in paragraph 4 of subsection 80 (13) of the Act and in paragraph 2 of subsection 81 (6) of the Act must be determined in accordance with actuarial methods and assumptions that are consistent 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. 310/13, s. 7 (1); O. Reg. 393/15, s. 1; O. Reg. 422/19, s. 1 (1). (1.1) For a pension plan described in subsection 14 (2) or (3) of the Act, the actuarial methods and assumptions referred to in subsection (1) must be consistent with 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, as if subsection 14 (1) of the Act applied in respect of the pension plan. O. Reg. 422/19, s. 1 (2). (2) The commuted value of a transferred member’s benefits must be determined, (a)  as if his or her employment or membership had terminated on the effective date of the transfer of assets under section 80 or 81 of the Act; and (b)  unless an election under section 74.1 of the Act is in effect for the original pension plan, as if an activating event described in subsection 74 (1) of the Act had occurred on the effective date of the transfer. O. Reg. 239/16, s. 1.
Public Service Pension Plan
 7.1 The following rules apply with respect to the Public Service Pension Plan continued under the Public Service Pension Act:  1.  Subsection 10 (2) shall be read without reference to subparagraph 2 i of that subsection. O. Reg. 390/17, s. 1. part ii   Transfer of defined benefits Application
PART II TRANSFER OF DEFINED BENEFITS
nan
Application of Part
 8. This Part applies with respect to a transfer of assets under section 80 or 81 of the Act if both the original pension plan and the successor pension plan provide defined benefits and if the transfer of assets is in respect of defined benefits. O. Reg. 310/13, s. 8. Funding Requirements
Funding Requirements
nan
Amount of assets to be transferred
 9. (1) The amount of assets to be transferred under section 80 or 81 of the Act from the original pension plan to the successor pension plan with respect to defined benefits is the amount calculated using the formula, (X + Y) − Z in which “X”  is the amount calculated under subsection (2), “Y”  is the amount calculated under subsection (3), and “Z”  is the amount described in subsection (4). O. Reg. 310/13, s. 9 (1). (2) In the formula in subsection (1), “X” is the amount calculated as of the effective date of the transfer using the formula, (A × B/C) − D in which, “A”  is the sum of the total amount of the solvency assets of the original pension plan and the total amount of all letters of credit held in trust under section 55.2 of the Act for the original pension plan, “B”  is the total amount of the solvency liabilities to be transferred from the original pension plan to the successor pension plan, “C”  is the total amount of the solvency liabilities of the original pension plan before the transfer of assets, and “D”  is the total amount to be paid into prescribed retirement savings arrangements under subsection 79.2 (8) of the Act and paid to individuals under subsection 79.2 (9) of the Act to satisfy the criteria set out in paragraph 4 of subsection 80 (13) of the Act or in paragraph 2 of subsection 81 (6) of the Act, as the case may be. O. Reg. 310/13, s. 9 (2). (3) In the formula in subsection (1), “Y” is the amount calculated using the formula, E × B/C in which, “B”  has the same meaning as in subsection (2), “C”  has the same meaning as in subsection (2), and “E”  is the amount of special payments made into the original pension plan from the effective date of the transfer of assets to the date on which the assets are transferred. O. Reg. 310/13, s. 9 (3). (4) In the formula in subsection (1), “Z” is the amount of payments made, on or after the effective date of the transfer of assets to the date on which the assets are transferred, under the original pension plan in respect of members, former members, retired members or other persons entitled to benefits who, as of the effective date of the transfer of assets, are transferred members, former members, retired members or other persons entitled to benefits under the successor pension plan. O. Reg. 310/13, s. 9 (4).
Requirements re solvency ratio
 10. (1) A transfer of assets under section 80 of the Act with respect to defined benefits
is not authorized unless, after the transfer, at least one of the following conditions would be satisfied: 1.  The solvency ratio of the successor pension plan is at least 0.85. 2.  The solvency ratio of the successor pension plan is, i.  no more than 0.05 below the solvency ratio of the original pension plan before the transfer, and ii.  no more than 0.05 below the solvency ratio of the successor pension plan before the transfer. O. Reg. 310/13, s. 10 (1). (2) A transfer of assets under section 81 of the Act with respect to defined benefits is not authorized unless, after the transfer, at least one of the following conditions would be satisfied: 1.  The solvency ratio of the successor pension plan is at least 1.0. 2.  The solvency ratio of the successor pension plan is, i.  no more than 0.05 below the solvency ratio of the original pension plan before the transfer, and ii.  no more than 0.05 below the solvency ratio of the successor pension plan before the transfer. O. Reg. 310/13, s. 10 (2).
Special payments
 11. (1) If a transfer of assets under section 80 or 81 of the Act results in a new going concern unfunded liability, a new solvency deficiency or a new reduced solvency deficiency for the successor plan, special payments to liquidate the new going concern unfunded liability, new solvency deficiency or new reduced solvency deficiency must be made in accordance with section 5 of the General Regulation. O. Reg. 253/18, s. 2. (1.1) Despite subsection (1), if a transfer of assets under section 81 of the Act between multi-employer pension plans that are established pursuant to a collective agreement or trust agreement results in a new going concern unfunded liability, a new solvency deficiency or a new reduced solvency deficiency, special payments to liquidate the new going concern unfunded liability, new solvency deficiency or new reduced solvency deficiency must be made in accordance with section 5, 6 or 6.0.4 of the General Regulation, as the case may be. O. Reg. 253/18, s. 2. (2) For a transfer of assets under section 80 of the Act, the obligation of the original employer to make special payments under the original pension plan continues until the transfer of assets is completed. O. Reg. 310/13, s. 11 (2). (3) For a transfer of assets under section 81 of the Act, the obligation of the employer to make special payments under the original pension plan continues until the transfer of assets is completed. O. Reg. 310/13, s. 11 (3).
Certain reports under General Regulation
 12. (1) This section applies with respect to a report filed under section 3, 4 or 14 of the General Regulation about the original pension plan or the successor pension plan, if the valuation date for the report falls after the effective date of the transfer but before the date on which the Chief Executive Officer consents to the transfer and the assets are transferred to the successor pension plan. O. Reg. 310/13, s. 12 (1); O. Reg. 154/19, s. 1 (1). (2) The report must disclose, on the basis of a going concern valuation and on the basis of a solvency valuation, the amount of the assets and liabilities to be transferred to the successor pension plan with respect to the transferred members, former members, retired members and any other persons whose pension benefits and ancillary benefits are being transferred to the successor pension plan. O. Reg. 310/13, s. 12 (2). Restrictions on Transfers
Restrictions on Transfers
nan
Restriction re reduction in accrued benefits
 13. A transfer of assets under section 80 or 81 of the Act with respect to defined benefits is not authorized if the successor pension plan is permitted, under the Act or under the terms of the pension plan, to reduce accrued pension benefits or accrued ancillary benefits in circumstances in which the original pension plan would not be permitted to reduce them. O. Reg. 310/13, s. 13.
Requirement re accrued pension benefits
 14. For a transfer of assets under section 80 or 81 of the Act with respect to defined benefits, the amount of a transferred member’s accrued pension benefits under the successor pension plan (calculated without taking into account ancillary benefits) must equal at least 85 per cent of the amount of his or her accrued pension benefits under the original pension plan (calculated without taking into account ancillary benefits) as of the effective date of the transfer. O. Reg. 310/13, s. 14.
Deadline for transferring assets
 15. (1) A transfer of assets under section 80 or 81 of the Act must be completed within 120 days after the date on which the Chief Executive Officer consents to the transfer. O. Reg. 310/13, s. 15; O. Reg. 154/19, s. 1 (1). (2) Revoked: O. Reg. 288/20, s. 3 (2). Notices to Transferred Members and Others
Notices to Transferred Members and Others
nan
Standard notices about a transfer of assets
 16. (1) This section applies with respect to a transfer of assets under section 80 or 81 of the Act with respect to defined benefits provided under the original pension plan. O. Reg. 310/13, s. 16 (1). (2) The notices required by this section must be given within six months after the effective date of the transfer. O. Reg. 310/13, s. 16 (2). (2.1) Revoked: O. Reg. 288/20, s. 4 (2). (3) The following notices must be given to transferred members, former members, retired members and other persons entitled to benefits under the pension plan, as indicated: 1.  The standard notice from the administrator of the original pension plan to each transferred member, containing the information required by Schedule 3. 2.  The standard notice from the administrator of the successor pension plan to each transferred member, containing the information required by Schedule 4. 3.  The standard notice from the administrator of the successor pension plan to each transferred former member, retired member and other person entitled to benefits under the pension plan, containing the information required by Schedule 5. O. Reg. 310/13, s. 16 (3). (4) The following notices must be given to each trade union that represents members, former members and retired members and to each advisory committee established under section 24 of the Act: 1.  The standard notice from the administrator of the original pension plan, containing the information required by Schedule 6. 2.  The standard notice from the administrator of the successor pension plan, containing the information required by Schedule 7. O. Reg. 310/13, s. 16 (4). (5) After a notice required by subsection (4) is delivered to the trade union or advisory committee, if there is a substantial change in any information contained in the notice, the administrator must give an updated notice to the trade union or advisory committee within a reasonable time after the administrator becomes aware of the change. O. Reg. 310/13, s. 16 (5). (6) The notices required by this section may be provided separately or jointly by the administrators of the original pension plan and the successor pension plan. O. Reg. 310/13, s. 16 (6).
Special notices where individual’s consent to transfer is required
 17. (1) This section applies with respect to a transfer of assets under section 80 of the Act with respect to defined benefits provided under the original pension plan if the employers’ agreement to transfer assets provides for the consent of any transferred member, former member, retired member or any other person to the transfer of assets in respect of his or her pension benefits and ancillary benefits. O. Reg. 310/13, s. 17 (1). (2) The following notices must be given to each transferred member, in addition to the notices required by subsection 16 (3): 1.  The special notice described in subsection (4) about the transferred member’s right to elect to transfer his or her benefits to the successor pension plan. 2.  The special notice from the administrator of the original pension plan containing the information required by Schedule 8. 3.  The special notice from the administrator of the successor pension plan containing the information required by Schedule 9. O. Reg. 310/13, s. 17 (2). (3) The following notices must be given to each transferred former member, retired member or other person entitled to benefits under the original pension plan, in addition to the notices required by subsection 16 (3): 1.  The special notice described in subsection (4) about his or her right to elect to transfer his or her benefits to the successor pension plan. 2.  The special notice from the administrator of the original pension plan containing the information required by Schedule 10. 3.  The special notice from the administrator of the successor pension plan containing the information required by Schedule 11. O. Reg. 310/13, s. 17 (3). (4) The special notice about an individual’s right to elect to transfer benefits to the successor pension plan must be given by the administrators of the original pension plan and the successor pension plan and must contain the following information: 1.  A statement that the transfer cannot be made unless the transferred member, former member, retired member or other person, as the case may be, consents to the transfer and delivers an election in writing to the administrator of the original pension plan, and such other documents as the administrator may require, by the deadline specified in the notice.  The deadline cannot be earlier than 90 days after the date on which the administrator sends the special notice to the individual. 2.  A statement that any transfer is subject to the Income Tax Act (Canada). O. Reg. 310/13, s. 17 (4). (5) The notices required by this section may be provided separately or jointly by the administrators of the original pension plan and the successor pension plan, but must be provided in a manner that enables the affected individuals to compare their options. O. Reg. 310/13, s. 17 (5). Requirements re Payments to or for Individuals
Requirements re Payments to or for Individuals
nan
Payments under s. 79.2 (8) and (9) of the Act
 18. (1) Subsections 21 (1.1) to (1.3) of the General Regulation apply, with necessary modifications, with respect to a payment into a prescribed retirement savings arrangement under subsection 79.2 (8) of the Act. O. Reg. 310/13, s. 18 (1). (2) Section 22.2 of the General Regulation applies, with necessary modifications, with respect to a payment to an individual under subsection 79.2 (9) of the Act. O. Reg. 310/13, s. 18 (2). part iii   Transfer of defined contribution benefits
PART III TRANSFER OF DEFINED CONTRIBUTION BENEFITS
nan
Application of Part
 19. This Part applies with respect to a transfer of assets under section 80 or 81 of the Act if both the original pension plan and the successor pension plan provide defined contribution benefits and if the transfer of assets is in respect of defined contribution benefits. O. Reg. 310/13, s. 19.
Amount in individual accounts
 20. A transfer of assets under section 80 or 81 of the Act with respect to defined contribution benefits provided under the original pension plan is not authorized unless, after the transfer, the amount in each individual account under the successor pension plan is no less than the amount, before the transfer, in each individual account under the original pension plan for each transferred member, former member or other person entitled to benefits under the original pension plan. O. Reg. 310/13, s. 20.
Standard notices about a transfer of assets
 21. (1) This section applies with respect to a transfer of assets under section 80 or 81 of the Act with respect to defined contribution benefits provided under the original pension plan. O. Reg. 310/13, s. 21 (1). (2) The notices required by this section must be given within six months after the effective date of the transfer. O. Reg. 310/13, s. 21 (2). (2.1) Revoked: O. Reg. 288/20, s. 5 (2). (3) The following notices must be given to transferred members, former members and other persons entitled to benefits under the pension plan, as indicated: 1.  The standard notice from the administrator of the original pension plan to each transferred member, containing the information required by Schedule 3. 2.  The standard notice from the administrator of the successor pension plan to each transferred member, containing the information required by Schedule 4. 3.  The standard notice from the administrator of the successor pension plan to each transferred former member and other person entitled to benefits under the pension plan, containing the information required by Schedule 5. O. Reg. 310/13, s. 21 (3). (4) The following notices must be given to each trade union that represents members and former members and to each advisory committee established under section 24 of the Act: 1.  The standard notice from the administrator of the original pension plan, containing the information required by Schedule 6. 2.  The standard notice from the administrator of the successor pension plan, containing the information required by Schedule 7. O. Reg. 310/13, s. 21 (4). (5) After a notice required by subsection (4) is delivered to the trade union or advisory committee, if there is a substantial change in any information contained in the notice, the administrator must give an updated notice to the trade union or advisory committee within a reasonable time after the administrator becomes aware of the change. O. Reg. 310/13, s. 21 (5). (6) The notices required by this section may be provided separately or jointly by the administrators of the original pension plan and the successor pension plan. O. Reg. 310/13, s. 21 (6).
Special notices where individual’s consent to transfer is required
 22. (1) This section applies with respect to a transfer of assets under section 80 of the Act with respect to defined contribution benefits provided under the original pension plan if the employers’ agreement to transfer assets provides for the consent of any transferred member, former member or any other person to the transfer of assets in respect of his or her pension benefits and ancillary benefits. O. Reg. 310/13, s. 22 (1). (2) The following notices must be given to each transferred member, in addition to the notices required by subsection 21 (3): 1.  The special notice described in subsection (4) about the transferred member’s right to elect to transfer his or her benefits to the successor pension plan. 2.  The special notice from the administrator of the original pension plan, containing the information required by Schedule 8. 3.  The special notice from the administrator of the successor pension plan, containing the information required by Schedule 9. O. Reg. 310/13, s. 22 (2). (3) The following notices must be given to every former member and other person entitled to benefits under the original pension plan, in addition to the notices required by subsection 21 (3): 1.  The special notice described in subsection (4) about the person’s right to elect to transfer his or her benefits to the successor pension plan. O. Reg. 310/13, s. 22 (3). (4) The special notice about an individual’s right to elect to transfer benefits to the successor pension plan must be given by the administrators of the original pension plan and the successor pension plan and must contain the following information: 1.  A statement that the transfer cannot be made unless the transferred member, former member or other person, as the case may be, consents to the transfer and delivers an election in writing to the administrator of the original pension plan, and such other documents as the administrator may require, by the deadline specified in the notice.  The deadline cannot be earlier than 90 days after the administrator sends the special notice to the individual. 2.  A statement that any transfer is subject to the Income Tax Act (Canada). O. Reg. 310/13, s. 22 (4). (5) The notices required by this section may be provided separately or jointly by the administrators of the original pension plan and the successor pension plan, but must be provided in a manner that enables the affected individuals to compare their options. O. Reg. 310/13, s. 22 (5).
Application for chief executive officer’s consent to transfer under section 80 of the act
nan
Application for chief executive officer’s consent to transfer under section 81 of the act
nan
Standard notice to transferred members from original pension plan
nan
Standard notice to transferred members from successor pension plan
nan
Standard notice to transferred former members, retired members and certain others
nan
Standard notice to trade unions and to advisory committees from original pension plan
nan
Standard notice to trade unions and to advisory committees from successor pension plan
nan
Special notice to transferred members from original pension plan
nan
Special notice to transferred members from successor pension plan
nan
Special notice to former members, retired members and certain others from original pension plan
nan
Special notice to transferred former members, retired members and certain others from successor pension plan
nan