Pension Benefits Standards Regulations, 1985

18 (1) Subject to subsection (2), a pension benefit credit shall be determined in accordance with the Recommendations for the Computation of Transfer Values from Registered Pension Plans effective September 1, 1993 issued by the Canadian Institute of Actuaries, as amended from time to time.

(2) In the case of a defined contribution plan, where the contributions under the plan are allocated to an individual plan member, the pension benefit credit of a plan member or the survivor of a plan member shall be the value of the accumulated contributions made under the plan by or in respect of the plan member since the plan member became a plan member.

(3) A plan member or the survivor of a plan member who wishes to transfer the pension benefit credit of the plan member or the survivor shall notify the administrator thereof in the form set out in Form 3 of Schedule II.

(4) A pension benefit credit shall be determined

• (a) where a plan member retires or dies or the whole or part of the plan is terminated, as of the date of the retirement, death or termination;

• (b) where a plan member ceases to be a plan member, as of the date that the plan member ceases to be a plan member; and

• (c) where a plan member makes an assignment under subsection 25(4) of the Act, on the effective date of the assignment.