Pension Benefits Standards Act, 1985

Marginal note:Duty of administrator to file documents

• 10 (1) The administrator of a pension plan shall file with the Superintendent, within 60 days after the plan is established and in the form and manner, if any, that the Superintendent directs,

  • (a) a copy of the plan;

  • (b) a copy of every document that creates or supports the plan or the pension fund; and

  • (c) a declaration signed by the administrator that the plan complies with this Act and the regulations.

• Marginal note:Registration of pension plan

  (2) Subject to subsection (3), the Superintendent shall register a pension plan and issue a certificate of registration in respect of the plan if the administrator has filed the documents under subsection (1).

• Marginal note:Refusal to register

  (3) The Superintendent may refuse to register a pension plan if the plan does not comply with this Act or the regulations.

• Marginal note:Notification

  (4) If the Superintendent refuses to register a pension plan, the Superintendent shall notify the administrator of the particulars of the non-compliance.

• Marginal note:Administration of plan prohibited

  (5) An administrator shall not administer a pension plan before complying with subsection (1) and shall, while the plan remains in force, ensure that it complies with this Act and the regulations.

• Marginal note:Treatment of surplus

  (6) Every pension plan that is filed for registration must provide for the use of surplus during the continuation of the plan and on its termination.

• Marginal note:Funding and governance policies

  (7) The administrator of a negotiated contribution plan must, before the plan is filed for registration, establish a funding policy and a governance policy that contain the prescribed information.

• Marginal note:Filing not required

  (8) The administrator is not required, for the purposes of subsection (1), to file the funding policy and the governance policy established under subsection (7) or to file any amendment to those policies for the purposes of subsection 10.1(1).

• Marginal note:Compliance of policies

  (9) While the plan remains in force, the administrator must ensure that the funding policy and the governance policy established under subsection (7) comply with this Act and the regulations.

• Marginal note:Transitional provision

  (10) An administrator of a negotiated contribution plan that was registered or was filed for registration under this section before the day on which subsection (7) comes into force must, within one year after that day, establish the policies referred to in subsection (7).