Solvency Funding Relief Regulations, 2009 (SOR/2009-182)

2 (1) These Regulations apply to the funding of a defined benefit plan and, except as otherwise provided, the Pension Benefits Standards Regulations, 1985 also apply to the funding of a plan under these Regulations.

(2) For the purposes of these Regulations, a 2008 solvency deficiency shall be calculated in accordance with the definition solvency deficiency in subsection 9(1) of the Pension Benefits Standards Regulations, 1985 and that definition shall be interpreted, in its paragraph (d), as including the present value of any special payments that are due in the next 10 years and that have been determined before the emergence of the 2008 solvency deficiency.

(3) In the case of an inconsistency between these Regulations and the Pension Benefits Standards Regulations, 1985, these Regulations prevail.