BILL NO. 126
(as passed)
2nd Session, 62nd General Assembly
Nova Scotia
64 Elizabeth II, 2015
Pooled Registered Pension Plans Act
(amended)
CHAPTER 48 OF THE ACTS OF 2015
The Honourable Randy Delorey
Minister of Finance and Treasury Board
First Reading: November 19, 2015 (LINK TO BILL AS INTRODUCED)
Second Reading: November 20, 2015
Third Reading: November 27, 2015
Royal Assent: December 18, 2015
An Act to Amend Chapter 37
of the Acts of 2014,
the Pooled Registered Pension Plans Act
Be it enacted by the Governor and Assembly as follows:
1 Chapter 37 of the Acts of 2014, the Pooled Registered Pension Plans Act, is amended by adding immediately after Section 12 the following Sections:
12B A member is entitled to require the administrator to transfer the funds in the member's pooled registered pension plan account into a prescribed retirement savings arrangement, as set out in this Act, the federal Act or the regulations.
(a) transferred to a pooled registered pension plan account for the spouse or to another pension plan for the spouse, if that plan permits;
(b) transferred to a prescribed retirement savings arrangement; or
(c) used to purchase an immediate life annuity or deferred life annuity of the prescribed kind for the spouse.
(5) Upon receipt of notification, given in the prescribed manner, of a division of funds ordered, agreed to or otherwise determined pursuant to subsection (2), the administrator shall determine and administer the member's account as ordered, agreed to or otherwise determined, and as prescribed.
(a) striking out "or" at the end of subclause (an)(iii);
(b) adding immediately after subclause (an)(iii) the following subclause:
(c) adding immediately after clause (ao) the following clause:
This page and its contents published by the Office of the Legislative Counsel, Nova Scotia House of Assembly, and © 2015 Crown in right of Nova Scotia. Created December 9, 2015. Send comments to legc.office@novascotia.ca.
