Pension Benefits Standards Regulations, 1985

9.3 (1) For the purposes of subparagraph 10.1(2)(b)(ii) of the Act, the prescribed solvency ratio level is 0.85.

(2) For the purposes of subparagraph 10.1(2)(b)(ii) of the Act, the solvency ratio following the amendment is the solvency ratio set out in the most recent actuarial report adjusted to reflect

• (a) the effect on the solvency ratio of the increase in solvency liabilities as a result of the amendment, determined in accordance with subsection 9(13); and

• (b) the effect of any lump sum payment to the pension fund made before the later of

  • (i) the effective date of the amendment; and

  • (ii) the date when the actuarial report prepared in respect of the amendment was filed with the Superintendent.

(3) For the purposes of subparagraph 10.1(2)(b)(iii) of the Act, the prescribed solvency ratio level is 1.0

• (a) during a negotiation period referred to in subsection 29.04(1) of the Act; and

• (b) while a funding schedule approved by the Minister under section 29.3 of the Act is in effect.

(4) For the purposes of paragraph 10.1(2)(c) of the Act, if the amendment would increase pension benefits or pension benefit credits, the going concern ratio — as adjusted to reflect the increase in going concern liabilities resulting from the amendment — must not be below 1.05 after the amendment.