BILL NO. 9

(e) "bridging benefit" means a periodic payment provided under a pension plan to a former member of the pension plan for a temporary period of time after retirement for the purpose of supplementing the former member's pension benefit until the former member is eligible to receive benefits under the Old Age Security Act (Canada) or is either eligible for or commences to receive retirement benefits under the Canada Pension Plan or the Quebec Pension Plan;

(xa) "optional ancillary benefits" means enhanced benefits under a defined benefit provision in a pension plan that are

(xb) "optional ancillary contributions" means contributions made by a member or former member to a pension plan, for conversion to optional ancillary benefits, that are in addition to those contributions required to obtain a pension, and includes interest on the contributions;

(iii) a plan under which all pension benefits are provided by contributions made by members, or

7A (1) In this Section, "multi-jurisdictional pension plan" means a pension plan to which this Act and the regulations apply and to which pension-benefits legislation of one or more prescribed jurisdictions in Canada also applies.

(2) With the approval of the Governor in Council, the Minister may enter into one or more agreements described in subsection (3) with the government of a prescribed jurisdiction in Canada, with a government agency of such a jurisdiction or with another person who has supervisory or regulatory powers under pension-benefits legislation of such a jurisdiction.

(3) An agreement may provide for matters relating to the application of this Act and the regulations to multi-jurisdictional pension plans, the application of pension-benefits legislation of a prescribed jurisdiction in Canada to such pension plans and the supervision and regulation of such pension plans.

(4) Without limiting the generality of subsection (3), an agreement may provide for

(a) matters respecting the administration and enforcement of this Act and the regulations and of the pension-benefits legislation of a prescribed jurisdiction in Canada;

(b) the delegation of any powers and duties of the Superintendent under this Act and the regulations to a person who has supervisory or regulatory powers under pension-benefits legislation of a prescribed jurisdiction;

(c) the delegation to the Superintendent of any powers and duties under pension-benefits legislation of a prescribed jurisdiction of a person who has supervisory or regulatory powers under that legislation.

(5) Where an agreement specifies that the pension-benefits legislation of a prescribed jurisdiction in Canada governs multi-jurisdictional pension plans instead of all or part of this Act and the regulations,

(a) this Act and the regulations cease to apply to the multi-jurisdictional pension plans to the extent specified in the agreement; and

(b) the pension-benefits legislation of the prescribed jurisdiction applies, in lieu of this Act and the regulations, to the multi-jurisdictional pension plans to the extent and in the manner specified in the agreement.

(6) Subsection (5) ceases to apply if the Minister ceases to be a party to the agreement.

(7) An agreement or an amendment to an agreement does not come into effect in the Province until the date specified in the agreement or the amendment, whichever date is later.

(8) The Superintendent shall make a copy of each agreement and any amendments to an agreement available for inspection by the public upon request.

(9) The Superintendent may accept a delegation described in clause (c) of subsection (4).

(e) where the pension plan is a multi-employer pension plan established pursuant to a collective agreement or a trust agreement, a board of trustees appointed pursuant to the pension plan or a trust agreement establishing the pension plan of whom at least one half are representatives of members of the multi-employer pension plan and a majority of such representatives of the members must be Canadian citizens or landed immigrants;

(ea) a person appointed as administrator by the Superintendent pursuant to Section 76;

(da) the requirements for entitlement under the pension plan to any pension benefit or ancillary benefit;

(ka) the method of allocation of the assets of the pension plan on windup;

(kb) particulars of any predecessor pension plan under which members of the plan may be entitled to pension benefits;

(c) the amount or the commuted value of an ancillary benefit for which a former member has met all eligibility requirements under the pension plan necessary to exercise the right to receive payment of the benefit.

(1A) Subsection (1) applies whether or not the pension plan is amended to comply with this Act and the regulations.

(4) Subsection (2) does not apply to enable the administrator to administer the pension plan contrary to this Act and the regulations.

(4A) No person other than a prescribed person shall be a trustee of a pension fund.

(2) Each class of employees that is represented in the pension plan is entitled to appoint at least one representative to the advisory committee established pursuant to subsection (1).

(3) The former members of the pension plan are entitled to appoint one representative to the advisory committee established pursuant to subsection (1).

(4) An advisory committee shall

(a) monitor the administration of the pension plan;

(b) make recommendations to the administrator respecting the administration of the pension plan; and

(c) promote awareness and understanding of the pension plan on the part of members of the pension plan and persons receiving pension benefits under the pension plan.

(5) An advisory committee or its representative has the right to examine the records of the administrator in respect of the administration of the pension plan and the pension fund and to make extracts from and copies of the records, but this subsection does not apply in respect of information as to the service, salary, pension benefits or other personal information related to any specific person without that person's prior consent.

(6) Subsection (1) does not apply

(a) where the pension plan is administered by a pension committee at least one of the members of which is appointed by the members of the pension plan; or

(b) in respect of a multi-employer pension plan established pursuant to a collective agreement.

(7) The administrator of a pension plan shall provide to the advisory committee or its representative such information as is under the control of the administrator and is required by the advisory committee or its representative for the purpose of the committee.

(5) Where a proposed amendment affects members or former members represented by a trade union that is a party to a collective agreement filed as the document that creates or supports a pension plan, the administrator shall transmit to the trade union the written notice referred to in subsection (1).

(ca) any other person entitled to pension benefits under the pension plan;

(d) an agent authorized in writing by a person referred to in clause (a), (b), (c), (ca), (f) or (g);

(f) an employer;

(g) a person required to make contributions under a pension plan on behalf of an employer;

(h) any other prescribed person.

(4) A multi-employer pension plan may require not more than the lesser of

(a) earnings of not less than thirty-five per cent of the year's maximum pensionable earnings with one or more participating employers; or

(b) seven hundred hours of employment with one or more participating employers,

in each of the two consecutive calendar years immediately before the year in which membership is applied for, or such equivalent basis as is approved by the Superintendent, as a condition precedent to membership in the multi-employer pension plan.

(4) For the purpose of determining entitlements to a deferred pension, a member of a multi-employer pension plan who terminates employment with a participating employer or an employer on whose behalf contributions are made under the pension plan is deemed not to have terminated employment until the member terminates membership in the pension plan.

(5) Where a member of a multi-employer pension plan is represented by a trade union that, in accordance with the Trade Union Act ceases to represent the member, and the member joins a different pension plan, a member is entitled to terminate membership in the first plan.

(6) Subsection (5) does not apply where there is a reciprocal agreement respecting the two pension plans.

(5) The following may be excluded when determining that part of the commuted value of a pension or deferred pension to which subsections (3) and (4) apply:

(a) defined contribution benefits;

(b) benefits that result from additional voluntary contributions;

(c) in the case of a multi-employer pension plan that permits a member who has not accrued maximum pension benefits permitted under the plan in a fiscal year of the plan to make contributions to increase the member's pension benefit to the maximum permitted for the fiscal year, benefits resulting from such contributions;

(d) benefits that result from voluntary contributions for past service as defined in the regulations;

(e) optional ancillary benefits; and

(f) any other benefits prescribed for the purpose of this subsection.

(7) The conversion of optional ancillary contributions to optional ancillary benefits shall be done pursuant to actuarial assumptions and methods that are appropriate and in accordance with accepted actuarial practice.

(8) Where a member's accumulated optional ancillary contributions exceed the amount that can be converted to optional ancillary benefits upon retirement, termination, death or plan wind-up, the pension plan may provide for forfeiture of the unused portion.

(3) For the purpose of subsection (2) and clause (c) of subsection (1) of Section 20, where the consent of an employer is an eligibility requirement for entitlement to receive an ancillary benefit and a member or former member has met all other eligibility requirements, the employer is deemed to have given the consent to the member or former member.

(1A) Where the amount of the commuted value of the deferred pension of the former member to be paid into a prescribed retirement savings arrangement pursuant to clause (b) of subsection (1) is greater than the amount prescribed for such a transfer under the Income Tax Act (Canada), the administrator shall pay the portion that exceeds the prescribed amount as a lump sum to the former member.

(11) The administrator is discharged on making the payment or transfer in accordance with the direction of the former member if the payment or transfer complies with this Act and the regulations.

(5) Where

(a) before the first day of January, 1988, a deferred life annuity has been purchased from an insurance company for a person entitled to a deferred pension under Chapter 14 of the Acts of 1975;

(b) payments have not commenced under the annuity on the first day of January, 1988; and

(c) the recipient of the payments has a spouse on the date payments commence,

the annuity shall be paid as a joint and survivor pension in accordance with the requirements of this Section and the insurance company shall make payments accordingly.

(6) For the purpose of subsection (5), the insurance company is deemed to be the administrator under Sections 53 and 54.

(1) The persons entitled to a joint and survivor pension benefit may waive the entitlement to receive payment of pension benefits in the form of a joint and survivor pension by delivering to the administrator of the pension plan or, in the case of a deferred life annuity, to the insurance company, a written waiver in the prescribed form that shall be supplied by the Superintendent.

(1) A pension plan may provide for payment to a former member of the commuted value of a benefit if the annual benefit payable at the normal retirement date is not more than four per cent of the year's maximum pensionable earnings in the year that the former member terminated employment or if the commuted value of a benefit is less than ten per cent of the year's maximum pensionable earnings in the year that the former member terminated employment.

(2) A pension plan that provides for qualification periods for a deferred pension that are shorter than the periods set out in subsection (1) of Section 42 or subsection (1) of Section 43 may permit a refund of contributions to a person who terminates employment after becoming entitled to a deferred pension under the pension plan before the completion of the qualification period referred to in subsection (1) of Section 42 or subsection (1) of Section 43.

(2A) In the case of a proposal to wind up only part of a pension plan, the administrator is not required to give written notice of the proposal to members, former members or other persons entitled to payment from the pension fund if those persons will not be affected by the proposed partial windup.

(1A) The Superintendent may terminate the appointment of an administrator appointed pursuant to subsection (1) if the Superintendent considers it reasonable to do so.

(1) Within the prescribed period of time, the administrator of a pension plan that is to be wound up, in whole or in part, shall give to each person entitled to a pension, deferred pension or other benefit or to a refund in respect of the pension plan a statement setting out the person's entitlement under the pension plan, the options available to the person and such other information as may be prescribed.

(3) Within the prescribed period of time, the administrator shall make payment in accordance with the election or deemed election.

(7) For the purpose of this Section, where the consent of an employer is an eligibility requirement for entitlement to receive an ancillary benefit, the employer is deemed to have given the consent.

(8) This Section and Section 78 apply in respect of the windup, in whole or in part, of a pension plan where the effective date of the windup is on or after the coming into force of this subsection.

(9) A person affected by a windup who elects to receive a benefit under subsection (1) is not entitled to payment of any refund of contributions under subsection (3) or (4) of Section 68.

(10) This Section does not apply in respect of a multi-employer pension plan.

(3A) An employer has a claim to the surplus or a part of the surplus if, after being notified of the employer's proposal, containing the prescribed information, for a refund of that surplus or part of it, at least two thirds of the persons in each of the following categories notify the employer that they consent to the proposal:

(a) members of the pension plan;

(b) former members of the plan; and

(c) other persons within a prescribed class.

(8) Where a group of members of a multi-employer pension plan are represented by a trade union and, in accordance with the Trade Union Act, the trade union ceases to represent the members and the members become represented by a different trade union certified as their bargaining agent and become members of a different pension plan, the administrator of the first plan shall transfer to the administrator of the new pension plan all the assets and liabilities respecting those members who have elected pursuant to Section 50 to transfer their entitlement to the new pension plan and the administrator of the new pension plan shall accept the transfer as assets and liabilities of the new plan.

(8A) Where a group of members of a multi-employer pension plan are represented by a trade union and, in accordance with the Trade Union Act, the trade union ceases to represent the members and former members and they become represented by a different trade union certified as their bargaining agent and become members of a different pension plan and the members are not entitled to make an election pursuant to Section 50, the administrator of the old pension plan shall transfer to the administrator of the new pension plan all assets and liabilities of the pension plan attributable to the members determined as prescribed and the administrator of the new pension plan shall accept the assets and liabilities as assets and liabilities, determined as prescribed, of the new plan.

(8B) Subsections (8) and (8A) do not apply where there is a reciprocal agreement respecting the pension plans.

(1) Where a pension plan is established by an employer to be a successor to an existing pension plan and the employer ceases to make contributions to the original pension plan the original pension plan is deemed not to be wound up and the new pension plan is deemed to be a continuation of the original pension plan.

(8) No transfer of assets shall be made from one pension fund to another pension fund in circumstances where subsections (1) to (7) do not apply or where Sections 50 or 85 do not apply, without the prior consent of the Superintendent or contrary to the prescribed terms and conditions and, for that purpose, subsections (5) to (7) apply mutatis mutandis.

(e) prescribing fees for the purpose of this Act;

(va) prescribing for the purpose of Section 71A, the cost of complying with an attachment;

(vb) prescribing the requirements of agreements for the purpose of clause (b) of subsection (3) of Section 84;