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Pension Benefits Standards Regulations, 1985 - SOR/87-19 (SCHEDULE IV)

Regulations Respecting Pension Benefits Standards

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Pension benefits will continue to be paid to retirees as they fall due.

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Phased retirement benefit payable, expressed as

(a) a percentage of the accrued pension benefit as of the date on which the agreement referred to in paragraph 16.1(3)(a) of the Act takes effect %

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Bridging benefit, payable from to , expressed as

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Phased retirement benefit payable, expressed as

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Bridging benefit, payable from to , expressed as

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NOTE: Under paragraph 16.1(4)(g) of the Pension Benefits Standards Act, 1985, if the former member is receiving an immediate pension benefit from a pension plan that provides for the payment of a phased retirement benefit, the administrator of that pension plan shall cease paying the immediate pension benefit when payment of a phased retirement benefit begins and an existing waiver of the joint and survivor pension benefit is void, except if the waiver was made under a court order or agreement relating to the distribution of property on divorce, annulment, separation or breakdown of a common-law partnership. When payment of an immediate pension benefit is to commence following the phased retirement period, a new election as to the form of that benefit may be made in accordance with subsection 22(5) of the Pension Benefits Standards Act, 1985.

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I, , hereby certify that I am the spouse or the common-law partner, as defined in the Pension Benefits Standards Act, 1985, of .

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I understand that

(a) electing to receive a variable benefit directly from the pension plan will allow my spouse or common-law partner to manage his or her own pension fund and will allow some flexibility in determining the amount that will be paid as a variable benefit in each calendar year;

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STATEMENT OF WITNESS

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I, , hereby certify that I am (a) the spouse or (b) the common-law partner, as defined in subsection 2(1) of the Pension Benefits Standards Act, 1985, of , a retired former member of the pension plan known as.

Under the terms of that pension plan

(a) the amount of the joint and survivor pension benefit payable to my spouse or common-law partner as a retired former member is $ per year; and

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I understand that:

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A new election as to the form of the immediate pension benefit that will commence after the phased retirement period may be made when that benefit commences, in accordance with subsection 22(5) of the Pension Benefits Standards Act, 1985.

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Pension Benefits Standards Regulations, 1985 - SOR/87-19 (SCHEDULE II)

Regulations Respecting Pension Benefits Standards

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3 As at the end of the last plan year, had the administrator established a written statement of investment policies and procedures in accordance with subsection 7.1(1) to the Pension Benefits Standards Regulations, 1985?

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4 If a statement of investment policies and procedures had been established as at the end of the plan year preceding the last plan year, did the administrator review it during the last plan year?

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5 If a statement of investment policies and procedures had been established as at the end of the plan year preceding the last plan year, was the statement amended during the last plan year?

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1 Applicant

I, , am a (member, former member, survivor) of the registered pension plan known as

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2 Transfer or Purchase (check one)
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- (f)
  
  transfer my pension benefit credit to a pension plan of which I am currently a member, which is known as ; or

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I, , hereby certify that I am the spouse or common-law partner as defined by the Pension Benefits Standards Act, 1985, of .

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STATEMENT OF WITNESS

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I, , hereby certify that I, am (a) the spouse or (b) the common-law partner, as defined in section 2 of the Pension Benefits Standards Act, 1985 of , a (member) (former member) of the pension plan known as.

Under the terms of that pension plan,

(a) the amount of pension benefit payable to my spouse or common-law partner as a (member) (former member) is $ per (period), and

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Pursuant to section 32 of the Pension Benefits Standards Act, 1985, notice of objection is hereby given to the action of the Superintendent of Financial Institutions in (refusing registration) (revoking registration and cancelling the certificate of registration) of the pension plan known as
as evidenced by the Superintendent’s notification dated the day of , 19.
The reasons for objection and the facts relevant thereto are as follows:
2	TWO copies of the objection are to be sent by REGISTERED MAIL to the Superintendent of Financial Institutions, Office of the Superintendent of Financial Institutions, Ottawa, K1A 0H2, Canada. For the notice of objection to have effect, the envelope containing the objection must be postmarked within 60 days after the date that the Superintendent of Financial Institutions mailed the notification that registration had been refused or that registration had been revoked and the certificate of registration cancelled, as the case may be.

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NOTICE OF APPEAL is hereby given from the decision of the Superintendent of Financial Institutions to (refuse) (revoke) registration of the pension plan known as

as evidenced by the notifications of the Superintendent dated the

day of

, 19

, and the

day of

, 19

.

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Pension Benefits Standards Regulations, 1985 - SOR/87-19 (Section 23)

Regulations Respecting Pension Benefits Standards

23 (1) The written statement to be provided in accordance with paragraph 28(1)(b) of the Act shall include
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- (h) the name of any person on the records of the administrator designated as the beneficiary of the pension benefit of the member;
- (i) the additional voluntary contributions of the plan member made for the plan year and the accumulated additional voluntary contributions of the plan member as of the end of the plan year;
- (j) the required contributions of the plan member made for the plan year and the accumulated required contributions of the plan member as of the end of the plan year;
- (k) in the case of a plan with a defined contribution provision, the contributions of the employer in respect of the plan member made for the plan year and the accumulated contributions of the employer in respect of the plan member as of the end of the plan year;
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- (q) in respect of the defined benefit provisions of an uninsured defined benefit plan,
  - (i) if the ratio as calculated in accordance with paragraph (b) of the definition solvency ratio in subsection 2(1) is less than one,
    
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- (r) for the assets of a plan that are not held in respect of member choice accounts,
  - (i) a list of the 10 largest asset holdings based on market value, each expressed as a percentage of the total assets, and
  - (ii) the target asset allocation expressed as a percentage of the total assets; and
(1.1) The written statement to be given in accordance with paragraph 28(1)(b.1) of the Act shall show
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- (d) the name of any person on the records of the administrator designated as the beneficiary;
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- (f) in respect of the defined benefit provisions of an uninsured defined benefit plan,
  - (i) if the ratio as calculated in accordance with paragraph (b) of the definition solvency ratio in subsection 2(1) is less than one,
    
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- (g) for the assets of a plan that are not held in respect of member choice accounts,
  - (i) a list of the 10 largest asset holdings based on market value, each expressed as a percentage of the total assets, and
  - (ii) the target asset allocation expressed as a percentage of the total assets;
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- (i) for a former member who is receiving a variable benefit,
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  - (iii) the minimum and maximum allowable variable benefit payable, as well as the amount that the former member is receiving,

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Pension Benefits Standards Regulations, 1985 - SOR/87-19 (Section 9)

Regulations Respecting Pension Benefits Standards

9 (1) In this section unfunded liability means
- (a) the going concern deficit of a plan as determined on the date that the plan was established;
- (b) the amount by which an increase in the going concern liabilities of a plan resulting from an amendment to the plan exceeds the going concern excess of the plan as determined on the day before the effective date of the amendment; or
(2) For the purposes of this section
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- (c) the interest rate used to determine the present value of going concern special payments referred to in paragraph (1)(c) is the same as the interest rate used to determine the going concern liabilities of the plan at the valuation date.
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(4) A plan shall be funded in each plan year as follows:

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(8) The average solvency ratio for a valuation date is the arithmetic average of the solvency ratios at the valuation date, the prior valuation date and the prior second valuation date adjusted as follows:
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- (c) the solvency ratios at the prior valuation date and the prior second valuation date may be adjusted to increase the solvency assets by an amount not in excess of the present value of any special payment made in respect of the period between the prior valuation date and the valuation date, or in respect of the period between the prior second valuation date and the valuation date, as the case may be, but not including an additional payment referred to in subsection (6) that will be applied to reduce special payments in respect of periods after the valuation date;
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- (d.1) the solvency ratios at the prior valuation date and the prior second valuation date shall be adjusted to increase the solvency assets by the face value of all letters of credit included in the solvency assets on the valuation date and to reduce the solvency assets by the face value of all letters of credit included in the solvency assets on the prior valuation date or prior second valuation date, as the case may be;
- (e) the solvency ratios at the prior valuation date and the prior second valuation date shall be adjusted to reduce the solvency assets by the present value of any reduction made under subsection (5) or under subsection (7.1) as that subsection read immediately before this section comes into force, between the prior valuation date and the valuation date or between the prior second valuation date and the valuation date, as the case may be; and
- (f) the solvency ratios at the prior valuation date and the prior second valuation date shall be adjusted to reflect the transfer into the plan of all of the assets of another plan between the prior valuation date and the valuation date or between the prior second valuation date and the valuation date, as the case may be, by including the assets of the transferring plan as solvency assets and the liabilities of the transferring plan as solvency liabilities.
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(10) The interest rate used to determine the present value of the special payments referred to in paragraphs (8)(c) and the present value of the reductions referred to in paragraph (8)(e) shall be the same interest rate that was used to determine the solvency liabilities of the plan on the prior valuation date or the prior second valuation date, as the case may be.
(11) The solvency ratio at the valuation date, without the adjustments made under subsection (8) or (9), may be used as the solvency ratio for a prior valuation date or prior second valuation date in respect of which no actuarial report was filed or provided to the Superintendent.
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(13.2) An employer may not act under section 9.11 of the Act if the face value of all letters of credit provided to a trustee or transferred to a trust exceeds, or would exceed, 15% of the solvency liabilities of the plan as determined at the valuation date.
(13.3) For the purposes of section 9.16 of the Act, a payment that is required to be made under subsection 9(1.1) of the Act may be reduced if
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- (c) the aggregate amount of all reductions does not exceed or would not exceed 15% of the solvency liabilities of the plan as determined at the valuation date.
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(14) Payments to a plan shall be made as follows:
- (a) the normal cost of the plan shall be paid in equal instalments or as a percentage of the anticipated remuneration to be paid to the members during the plan year and shall be paid not less frequently than monthly and not later than 30 days after the end of the period in respect of which the instalment is paid;

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Pension Benefits Standards Regulations, 1985 - SOR/87-19 (Section 2)

Regulations Respecting Pension Benefits Standards

2 (1) In these Regulations,
accountant

accountant means a person authorized to act as an accountant under the laws of a province; (comptable)

Canadian resource property

Canadian resource property has the same meaning as in paragraph 66(15)(c) of the Income Tax Act; (avoirs miniers canadiens)

deferred life annuity
deferred life annuity means a life annuity that
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- (b) provides for equal periodic payments or periodic payments that have been varied by reference to
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  - (ii) the amount of any pension payable under either the Canada Pension Plan or a provincial pension plan as defined in section 3 of the Canada Pension Plan,
  - (iii) the Consumer Price Index for Canada as published by Statistics Canada under the authority of the Statistics Act, or
immediate life annuity
immediate life annuity means a life annuity that
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- (b) provides for equal periodic payments or periodic payments that have been varied by reference to
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  - (ii) the amount of any pension payable under either the Canada Pension Plan or a provincial pension plan as defined in section 3 of the Canada Pension Plan,
  - (iii) the Consumer Price Index for Canada as published by Statistics Canada under the authority of the Statistics Act, or
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 section 20.1; (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 section 20; (régime enregistré d’épargne-retraite immobilisée)

normal cost

normal cost means the cost of benefits, excluding special payments, that are to accrue during a plan year, as determined on the basis of a going concern valuation; (coûts normaux)

restricted life income fund

restricted 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 section 20.3; (fonds de revenu viager restreint)

restricted locked-in savings plan

restricted locked-in 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 section 20.2; (régime d’épargne immobilisée restreint)

solvency assets

solvency assets means the amount determined by the formula

A + B - C

where

A

is the market value of the assets that relate to the defined benefit provisions of a plan as determined at the valuation date,

B

is the face value of all letters of credit in effect on the valuation date, other than those being used to fund a plan under Part 3 of the Solvency Funding Relief Regulations or Part 3 of the Solvency Funding Relief Regulations, 2009, up to a maximum of 15% of the solvency liabilities of the plan as determined at the valuation date, and

C

is the estimated expense of the winding-up of the plan as certified by an actuary; (actif de solvabilité)
(2) Disability means
- (a) for the purpose of paragraph 18(2)(b) of the Act, a mental or physical condition that a physician has certified as being likely to shorten considerably the life expectancy of a member; and
- (b) for the purpose of determining pensionable age, a mental or physical condition that a physician has certified as rendering a member unable to perform the member’s duties as an employee. (invalidité)

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STATEMENT OF WITNESS

STATEMENT OF WITNESS

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