Assessment of Pension Plans Regulations

2 (1) For the purposes of subsection 23(5) of the Act, the amount of the assessment is determined by multiplying the pension plan assessment base by the basic rate that is in effect for the fiscal year in which the assessment is due to be paid.

(2) [Repealed, SOR/2019-53, s. 2]

(3) Despite subsection (1), the assessment to be paid is equal to zero if,

• (a) in the case of a pension plan that has been registered under section 12 of the Pooled Registered Pension Plans Act, the plan is terminated and wound up no later than four months after the end of the pension plan year; and

• (b) in the case of a pension plan that has been registered or is filed for registration under section 10 of the Pension Benefits Standards Act, 1985,

  • (i) the plan is terminated and wound up no later than six months after the end of the pension plan year,

  • (ii) the plan has been terminated for five or more pension plan years, or

  • (iii) the plan is terminated with a solvency deficit, as defined in subsection 24.1(1) of the Pension Benefits Standards Regulations, 1985, and the plan is a negotiated contribution plan, as defined in subsection 2(1) of the Pension Benefits Standards Act, 1985, or the employer who is required to pay into the plan under subsection 9(1.1) of that Act is

    • (A) a bankrupt, as defined in section 2 of the Bankruptcy and Insolvency Act,

    • (B) an insolvent person in respect of whom a partial or complete stay of proceedings applies under subsection 69(1) or 69.1(1) of that Act, or

    • (C) a debtor company in respect of which an order under subsection 11.02(1) or (2) of the Companies’ Creditors Arrangements Act has been made and in respect of which any stay of proceedings under that order remains in effect.