Reserve Force Pension Plan Regulations (SOR/2007-32)

Marginal note:Payment of benefits

89 All amounts required for the payment of benefits payable under these Regulations and all necessary and reasonable costs for the administration of the Reserve Force Pension Plan shall be charged to the Fund and paid out of the assets of the Public Sector Pension Investment Board.

Marginal note:Review date

90 The review date referred to in subsection 59.6(2) of the Act is March 31, 2008.

Marginal note:Annual report

91 The annual report referred to in section 59.7 of the Act shall include:

• (a) a statement showing the amounts paid into and out of the Fund during the fiscal year, by appropriate classifications, and the number of participants and the number of persons receiving benefits; and

• (b) beginning with the fiscal year ending March 31, 2008, the financial statements of the Reserve Force Pension Plan for the fiscal year.

General

Marginal note:Form and transmission of documents

• 92 (1) When any person makes an election, option or waiver, or gives a direction, it is valid only if it is

  • (a) made or given in writing, and signed and dated by the person making or giving it; and

  • (b) sent to the Minister within one week after the date that it bears.

• Marginal note:When made

  (2) The election, option or waiver is made, and the direction is given, on the date that it bears, except that an option for an annual allowance or the payment of a transfer value made before or on the day on which the participant ceases to be a participant is made on the day after that day.

• Marginal note:Date of sending

  (3) The date of the sending of the election, option, waiver or direction is the day on which it is delivered or, if it is sent by mail, the day on which it is mailed and the postmark is evidence of that day.

• Marginal note:Irrevocable

  (4) The election, option or waiver is irrevocable.

Coming into Force

Marginal note:Coming into force

93 These Regulations come into force on March 1, 2007.