Pension Benefits Standards Regulations, 1985 (SOR/87-19)

RELATED PROVISIONS

• — SOR/2008-144, s. 9

  • • 9. (1) Despite sections 3 and 4, a contract or arrangement for a locked-in registered retirement savings plan or a life income fund that is entered into within six months after the day on which these Regulations come into force may be made under sections 20 and 20.1 of the Pension Benefits Standards Regulations, 1985 respectively, as those sections read on the day before the day on which these Regulations come into force.

    • (2) Form 3 of Schedule II to the Pension Benefits Standards Regulations, 1985, as it read before the day on which these Regulations come into force, may continue to be used for the purpose referred to in subsection 18(3) of those Regulations for six months after the day on which these Regulations come into force.

• — SOR/2010-149, s. 27

  • 27. A plan may continue to be funded under section 9 of the Pension Benefits Standards Regulations, 1985, as they read immediately before this section comes into force, until the day on which the first actuarial report is filed after this section comes into force.

• — SOR/2010-149, s. 28

  • 28. A reference to an “unfunded liability” in these Regulations includes a reference to an “initial unfunded liability” as defined in subsection 9(1) of the Pension Benefits Standards Regulations, 1985, as it read immediately before this section comes into force.

• — SOR/2010-149, s. 29

  • • 29. (1) For the purpose of determining the average solvency ratio for the first actuarial report required to be filed after this section comes into force, the solvency ratio that is determined on the valuation date, without the adjustments made under subsections 9(8) and 9(9), may be used as the solvency ratio for

      • (a) the prior valuation date and the prior second valuation date; or

      • (b) the prior second valuation date.

    • (2) If the average solvency ratio is determined under paragraph (1)(a), the solvency assets means the value of the assets of the plan, determined on the basis of market value or of a value related to the market value by means of a method using market values over a period of not more than five years to stabilize short-term fluctuations.

    • (3) For the purpose of determining the average solvency ratio for the second actuarial report required to be filed after this section comes into force, if the average solvency ratio for the first actuarial report was determined under paragraph (1)(a), the solvency ratio that is determined on the valuation date, without the adjustments made under subsections 9(8) and 9(9), may be used as the solvency ratio for the prior second valuation date.

• — SOR/2010-149, s. 30

  • 30. These Regulations do not apply to a plan to which the Canadian Press Pension Plan Solvency Deficiency Funding Regulations apply.