Solvency Funding Relief Regulations, 2009

14 If this Part applies and if a solvency deficiency, as defined in subsection 9(1) of the Pension Benefits Standards Regulations, 1985, emerges after the day on which the deficiency emerged, the new solvency deficiency shall be calculated for the purposes of subsection 9(4) of those Regulations in accordance with that definition and that definition shall be interpreted as including

• (a) the present value of the special payments referred to in section 5; and

• (b) the present value of the special payments that are due in the period that is the greater of

  • (i) the five years following the emergence of the new solvency deficiency, and

  • (ii) the period then remaining of the 10 years following the emergence of the deficiency that was funded in accordance with Part 1.