Marginal note:Pension plans may exceed minimum requirements
3. The requirements of this Act and the regulations shall not be construed as preventing the registration or operation of a pension plan containing provisions that are more advantageous to members of the plan, former members or potential members or their spouses, common-law partners, designated beneficiaries, estates or successions.
- R.S., 1985, c. 32 (2nd Supp.), s. 3;
- 2000, c. 12, s. 255;
- 2010, c. 12, s. 1787.
APPLICATION OF ACT
Marginal note:Application of Act
4. (1) This Act applies in respect of pension plans.
Definition of “pension plan”
(2) In this Act, “pension plan” means a superannuation or other plan organized and administered to provide pension benefits to employees employed in included employment (and former employees) and to which the employer is required under or in accordance with the plan to contribute, whether or not provision is also made for other benefits or for benefits to other persons, and includes a supplemental pension plan, whether or not the employer is required to make contributions under or in accordance with the supplemental pension plan, but does not include
(a) an employees’ profit sharing plan or a deferred profit sharing plan as defined in sections 144 and 147, respectively, of the Income Tax Act;
(b) an arrangement to provide a “retiring allowance” as defined in subsection 248(1) of the Income Tax Act;
(b.1) a pooled registered pension plan, as defined in subsection 2(1) of the Pooled Registered Pension Plans Act; or
(c) any other prescribed arrangement.
Definition of “supplemental pension plan”
(3) In subsection (2), “supplemental pension plan” means a pension plan for employees whose membership in another pension plan is a condition precedent to membership in the supplemental pension plan and that is an integral part of that other plan.
Definition of “included employment”
(4) In this Act, “included employment” means employment, other than excepted employment, on or in connection with the operation of any work, undertaking or business that is within the legislative authority of the Parliament of Canada, including, without restricting the generality of the foregoing,
(a) any work, undertaking or business operated or carried on for or in connection with navigation and shipping, whether inland or maritime, including the operation of a ship and transportation by ship anywhere in Canada;
(b) any railway, canal, telegraph or other work or undertaking connecting a province with another province or extending beyond the limits of a province;
(c) any line of steam or other ships connecting a province with another province or extending beyond the limits of a province;
(d) any ferry between a province and another province or between a province and a country other than Canada;
(e) any aerodrome, aircraft or line of air transportation;
(f) any radio broadcasting station;
(g) any bank or authorized foreign bank within the meaning of section 2 of the Bank Act;
(h) any work, undertaking or business that, although wholly situated within a province, is before or after its execution declared by the Parliament of Canada to be for the general advantage of Canada or for the advantage of two or more provinces; and
(i) any work, undertaking or business outside the exclusive legislative authority of provincial legislatures, and any work, undertaking or business of a local or private nature in Yukon, the Northwest Territories or Nunavut.
Definition of “excepted employment”
(5) In this Act, “excepted employment” means
(a) employment by Her Majesty in right of Canada; and
(b) any employment that is excepted from included employment by any regulation made under subsection (6).
(6) The Governor in Council may make regulations excepting from included employment
(a) employment by an agent of Her Majesty in right of Canada; and
(b) any other employment if the Governor in Council, on a report of the Minister, is satisfied that
(i) provision has been made for the coverage of employees employed in that employment under the terms of a pension plan that is organized and administered for the benefit primarily of employees employed in other than included employment and that is required to be registered under the law of a designated province, or
(ii) in any other case, the exception of that employment is warranted having regard to the existence of other arrangements for the safeguarding of any benefits that are or may become available to employees or other persons in respect of that employment, or having regard to such other circumstances as the Governor in Council deems relevant.
- R.S., 1985, c. 32 (2nd Supp.), s. 4;
- 1993, c. 28, s. 78;
- 1999, c. 28, s. 172, c. 31, s. 244(F);
- 2002, c. 7, s. 226;
- 2012, c. 16, s. 84.
- Date modified: