Pension Benefits Standards Act, 1985

Marginal note:Provisions respecting information to member and spouse or common-law partner

• 28 (1) A pension plan shall provide

  • (a) that each member of the plan and each employee who is eligible to join the plan, and that person’s spouse or common-law partner, will be given, in the prescribed circumstances and in the prescribed manner,

    • (i) a written explanation of the provisions of the plan and of any applicable amendments to the plan, within 60 days after the establishment of the plan or after the making of the amendment, as the case may be, and

    • (ii) such other information as is prescribed;

  • (b) subject to section 45, that each member of the plan and the member’s spouse or common-law partner will be given, in the prescribed circumstances and in the prescribed manner and within six months, or such longer interval as is permitted by the Superintendent, after the end of each year of operation of the plan, a written statement showing

    • (i) in the case of a defined benefit plan, the pension benefits to which the member is entitled under the plan at the end of that year,

    • (ii) the value of accumulated contributions made under the plan by the member (or, in the case of a defined contribution provision, by or in respect of the member) since the member became a member, expressed in prescribed manner,

    • (iii) the prescribed ratio of the plan or, if there is no prescribed ratio, the funded ratio, if applicable, and

    • (iv) such other information as is prescribed;

  • (c) that each member and former member of the plan, every other person entitled to pension benefits or refunds under the plan and their spouses or common-law partners may, once in each year of operation of the plan, either personally or by an agent authorized in writing for that purpose,

    • (i) examine the documents or information filed with the Superintendent under subsection 10(1) or 10.1(1) or section 12 or any regulations made under paragraph 39(i), and any other prescribed documents, at the Canadian head office of the administrator or at such other place as is agreed to by the administrator and the person requesting to examine the documents, and

    • (ii) order, in writing, a photocopy of any such documents; and

  • (d) that, where a member of the plan retires, ceases to be a member of the plan or dies, or where the whole or part of the plan is terminated, the administrator shall give to that member (or, in the case of termination, each member) and to the member’s spouse or common-law partner (and, in the case of the member’s death, the member’s legal representative) a written statement, in prescribed form, of the member’s pension benefits and other benefits payable under the plan, within thirty days, or such longer period as the Superintendent may allow, after the date of the retirement, cessation of membership, death or termination, as the case may be.

• Marginal note:Meaning of “funded ratio”

  (2) In subparagraph (1)(b)(iii), funded ratio means the ratio of the assets of a pension plan to the liabilities of the pension plan on a going-concern basis, as reported in the latest actuarial report respecting the pension plan filed with the Superintendent.

• Marginal note:Administrator’s duty

  (3) The administrator shall forthwith

  • (a) permit any examination of documents that is requested under subparagraph (1)(c)(i); and

  • (b) comply, on condition of payment of such reasonable fee as the administrator may fix, with any written order for a photocopy placed under subparagraph (1)(c)(ii).