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  1. Aveos Pension Plan Regulations - SOR/2013-132 (Section 2)
    Aveos Pension Plan Regulations
    Marginal note:Transfer options
    •  (1) Despite sections 18 and 36 of the Act, the administrator of the plan must, on request of a former member and with the consent of the spouse or common-law partner of the former member, if any, or on request of the survivor of the former member, transfer the assets of the plan to

      • (a) a locked-in registered retirement savings plan that

        • [...]

        • (iii) provides that, subject to subsection 25(4) of the Act, the funds, and any interest or right in those funds, must not be transferred, charged, attached, anticipated or given as security and that any transaction appearing to do so is void or, in Quebec, null,

        • (iv) provides that, if the assets of the plan that were transferred into the locked-in registered retirement savings plan were not varied according to the sex of the plan member, an immediate life annuity or a deferred life annuity purchased with the funds accumulated in the locked-in registered retirement savings plan must not differentiate as to sex,

        • (v) contains a statement as to whether the assets of the plan that were transferred were varied according to the sex of the plan member, and

      • (b) a life income fund that

        • [...]

        • (vi) provides that, for any calendar year before the calendar year in which the holder of the life income fund reaches 90 years of age, the amount of income paid out of the life income fund must not exceed the amount determined by the formula

          C/F

          where

          F 
          is the value, as at the beginning of the calendar year, of a pension benefit of which the annual payment is $1, payable on January 1 of each year between the beginning of that calendar year and December 31 of the year in which the holder reaches 90 years of age, established using an interest rate that
          • (A) for the first 15 years after January 1 of the year in which the life income fund is valued, is less than or equal to the monthly average yield on Government of Canada marketable bonds of maturity over 10 years, as published by the Bank of Canada, for the second month before the beginning of the calendar year, and

        • [...]

        • (viii) provides that, for the calendar year in which the contract or arrangement was entered into, the amount of income paid out of the life income fund, as referred to in subparagraph (vi) or (vii), as the case may be, must be multiplied by the number of months remaining in that year and then divided by 12, with any part of an incomplete month counting as one month,

        • (ix) provides that if, on the day on which the life income fund was established, part of the life income fund was composed of funds that had been held in another life income fund of the holder earlier in the calendar year in which the fund was established, the amount of income paid out of the life income fund, as referred to in subparagraph (vi) or (vii) as the case may be, is deemed to be zero in respect of that part of the life income fund for that calendar year;

        • (x) provides that, subject to subsection 25(4) of the Act, the funds, and any interest or right in those funds, must not be transferred, charged, attached, anticipated or given as security and that any transaction appearing to do so is void or, in Quebec, null,

        • (xi) contains a statement as to whether the assets of the plan that were transferred were varied according to the sex of the plan member, and

        • (xii) provides that, if the assets of the plan that were transferred into a life income fund were not varied according to the sex of the plan member, an immediate life annuity or a deferred life annuity purchased with the funds accumulated in the life income fund must not differentiate as to sex.


  2. Aveos Pension Plan Regulations - SOR/2013-132 (Section 1)
    Aveos Pension Plan Regulations
    Marginal note:Definitions
    •  (1) The following definitions apply in these Regulations.

      life income fund

      life income fund  means a registered retirement income fund, as defined in subsection 146.3(1) of the Income Tax Act, that meets the requirements set out in paragraph 2(1)(b). (fonds de revenu viager)

      locked-in registered retirement savings plan

      locked-in registered retirement savings plan  means a registered retirement savings plan, as defined in subsection 146(1) of the Income Tax Act, that meets the requirements set out in paragraph 2(1)(a). (régime enregistré d’épargne-retraite immobilisée)

    • Marginal note:Interpretation

      (2) Except as otherwise provided in these Regulations, words and expressions used in these Regulations have the same meaning as in the Pension Benefits Standards Regulations, 1985.


  3. Aveos Pension Plan Regulations - SOR/2013-132 (SCHEDULE)
    Aveos Pension Plan Regulations

    [...]

    [...]

    Request to transfer

    [...]

    Acknowledgement

    [...]

    Signatures

    [...]

    Confirmation of receipt of the request by the administrator of the plan

    [...]

    Signature

    [...]

    [...]

    I, , certify that I am the spouse or common-law partner (as those terms are defined in the Pension Benefits Standards Act, 1985) of .

    [...]

    I understand that

    [...]

    (c) a transfer of the assets of the plan into a life income fund under the Aveos Pension Plan Regulations will allow my spouse or common-law partner to withdraw some of the money each year, subject to minimum and maximum withdrawal limits as prescribed by the Pension Benefits Standards Act, 1985 and the Income Tax Act;

    [...]

    STATEMENT OF WITNESS

    [...]


  4. Aveos Pension Plan Regulations - SOR/2013-132 (Section 4)
    Aveos Pension Plan Regulations

     The amount of the assets of the plan is determined by the formula

    A - B + C

    where

    A 
    is the commuted value of the former member’s pension as of the effective date of the termination of the plan determined in accordance 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,


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