Pension Benefits Act

1 (1) In this Act, “additional voluntary contribution” means a contribution to the pension fund by a member of the pension plan beyond any amount that the member is required to contribute, but does not include a contribution in relation to which the employer is required to make a concurrent additional contribution to the pension fund; (“cotisation facultative supplémentaire”) Note: On a day to be named by proclamation of the Lieutenant Governor, the definition of “additional voluntary contribution” in subsection 1 (1) of the Act is repealed and the following substituted: (See: 2020, c. 36, Sched. 37, s. 1 (1)) “additional voluntary contribution” means a contribution to the pension fund by a member of the pension plan beyond any amount that the member is required to contribute, but does not include, (a) an optional contribution, or (b) a contribution in relation to which the employer is r…

1.1 (1) For the purposes of this Act, an individual is a retired member of a pension plan if he or she has either terminated the employment that relates to the pension plan or has terminated membership in the pension plan and if one or more of the following criteria is also satisfied: 1. The individual is receiving a pension payable from the pension fund. 2. He or she is entitled to begin to receive a pension from the pension fund by virtue of having reached the normal retirement date under the pension plan, even though he or she has not yet elected to receive the pension. 3. He or she has elected, under subsection 41 (1), to receive an early retirement pension. 4. He or she has elected, under the terms of the pension plan, to begin payment of a pension payable from the pension fund, whether or not receipt of the first payment of the pension is deferred until a later date. 2010, c. 9, s.…

Application

2 This Act binds the Crown. R.S.O. 1990, c. P.8, s. 2.

3 This Act applies to every pension plan that is provided for persons employed in Ontario. R.S.O. 1990, c. P.8, s. 3.

4 (1) For the purposes of this Act, a person shall be deemed to be employed in the province in which the establishment of his or her employer is located and to which the person is required to report for work. Idem (2) A person who is not required to report for work at an establishment of his or her employer shall be deemed to be employed in the province in which is located the establishment of his or her employer from which the person’s remuneration is paid. R.S.O. 1990, c. P.8, s. 4.

5 The requirements of this Act and the regulations shall not be construed to prevent the registration or administration of a pension plan and related pension fund that provide pension benefits or ancillary benefits more advantageous to members than those required by this Act and the regulations. R.S.O. 1990, c. P.8, s. 5.

5.1 (1) This section applies with respect to a designated multi-jurisdictional pension plan if there is an agreement under section 100 between the Crown and any designated jurisdiction whose pension benefits legislation applies to the pension plan. 2010, c. 1, Sched. 23, s. 2 (1). Effect of agreement (2) Without limiting the generality of section 101, the agreement governs the manner and extent to which this Act and the regulations apply with respect to the designated multi-jurisdictional pension plan. 2010, c. 1, Sched. 23, s. 2 (1). Duty of administrator (3) The administrator of the designated multi-jurisdictional pension plan shall comply with the requirements in the agreement that apply with respect to the pension plan and with any requirements imposed under the authority of the agreement. 2010, c. 1, Sched. 23, s. 2 (1). Duty of employer (4) An employer or person required to make co…

Registration and Administration

6 (1) No person shall administer a pension plan unless a certificate of registration or an acknowledgment of application for registration of the pension plan has been issued by the Chief Executive Officer. R.S.O. 1990, c. P.8, s. 6 (1); 2018, c. 8, Sched. 23, s. 23. Application of subs. (1) (2) Subsection (1) does not apply to prevent administration during the first ninety days after the establishment of the pension plan. R.S.O. 1990, c. P.8, s. 6 (2). Section Amendments with date in force (d/m/y) 2018, c. 8, Sched. 23, s. 23 - 08/06/2019

7 (1) No person shall administer a pension plan if registration of the pension plan has been refused or revoked by the Chief Executive Officer. R.S.O. 1990, c. P.8, s. 7 (1); 2018, c. 8, Sched. 23, s. 23. Exception (2) Subsection (1) does not apply to prevent administration for the purpose of wind up of a pension plan. R.S.O. 1990, c. P.8, s. 7 (2). Section Amendments with date in force (d/m/y) 2018, c. 8, Sched. 23, s. 23 - 08/06/2019 Administrator

8 (0.1) A pension plan must be administered by a person or entity described in subsection (1). 2010, c. 9, s. 3 (1). Prohibition (0.2) No person or entity other than a person or entity described in subsection (1) shall administer a pension plan. 2010, c. 9, s. 3 (1). Administrator (1) A pension plan is not eligible for registration unless it is administered by an administrator who is, (a) the employer or, if there is more than one employer, one or more of the employers; (b) a pension committee that is composed of, (i) representatives of members of the pension plan, or (ii) one or more representatives of the employer or employers, or any person, other than the employer or employers, required to make contributions under the pension plan and one or more representatives of the members of the pension plan; (c) if the pension plan is a single employer jointly sponsored pension plan, (i) any pe…

9 (1) Within the prescribed period of time, the administrator of a pension plan shall apply to the Chief Executive Officer for registration of the pension plan. 1999, c. 15, s. 2; 2018, c. 8, Sched. 23, s. 23. Requirements for registration (2) An application for registration shall be made by paying the fee established by the Minister and filing, (a) a completed application in the form approved by the Chief Executive Officer; (b) certified copies of the documents that create and support the pension plan; (c) certified copies of the documents that create and support the pension fund; (d) a certified copy of any reciprocal transfer agreement related to the pension plan; (e) a certified copy of the explanations and other information provided under subsection 25 (1); (e.1) a certification in a form approved by the Chief Executive Officer and signed by the applicant in which the applicant atte…

10 (1) The documents that create and support a pension plan shall set out the following information: 1. The method of appointment and the details of appointment of the administrator of the pension plan. 2. The conditions for membership in the pension plan. 3. The benefits and rights that are to accrue upon termination of employment, termination of membership, retirement or death. 4. The normal retirement date under the pension plan. 5. The requirements for entitlement under the pension plan to any pension benefit or ancillary benefit. 6. The contributions or the method of calculating the contributions required by the pension plan. 7. The method of determining benefits payable under the pension plan. 8. The method of calculating interest to be credited to contributions under the pension plan. 9. The mechanism for payment of the cost of administration of the pension plan and pension fund. …

11 Repealed: 2010, c. 9, s. 6. Section Amendments with date in force (d/m/y) 2010, c. 9, s. 6 - 18/05/2010

12 (1) The administrator of a pension plan shall apply to the Chief Executive Officer, within sixty days after the date on which the pension plan is amended, for registration of the amendment. R.S.O. 1990, c. P.8, s. 12 (1); 2018, c. 8, Sched. 23, s. 23. Requirements for registration (2) An application for registration of an amendment shall be made by paying the fee established by the Minister and filing, (a) a certified copy of the amending document; (b) certified copies of any other prescribed documents; (b.1) a certification in a form approved by the Chief Executive Officer and signed by the administrator of the pension plan in which the administrator attests that the amendment complies with this Act and the regulations; and (c) any other prescribed information. R.S.O. 1990, c. P.8, s. 12 (2); 1997, c. 28, s. 192; 2018, c. 8, Sched. 23, s. 23. Exception (2.1) The regulations may provi…

13 (1) An amendment to a pension plan is not effective until the administrator of the plan files an application for registration of the amendment and the application meets the requirements of section 12. 1997, c. 28, s. 193. Retroactive amendment (2) An amendment to a pension plan may be made effective as of a date before the date on which the amendment is registered. R.S.O. 1990, c. P.8, s. 13 (2). Section Amendments with date in force (d/m/y) 1997, c. 28, s. 193 - 01/01/1998

14 (1) An amendment to a pension plan is void if the amendment purports to reduce, (a) the amount or the commuted value of a pension benefit accrued under the pension plan with respect to employment before the effective date of the amendment; (b) the amount or the commuted value of a pension or a deferred pension accrued under the pension plan; or (c) the amount or the commuted value of an ancillary benefit for which a member, former member or retired member has met all eligibility requirements under the pension plan necessary to exercise the right to receive payment of the benefit. R.S.O. 1990, c. P.8, s. 14 (1); 2010, c. 9, s. 8 (1). Application of subs. (1) (2) Subsection (1) does not apply in respect of a multi-employer pension plan established pursuant to a collective agreement or a trust agreement. R.S.O. 1990, c. P.8, s. 14 (2). Idem (3) Subsection (1) does not apply in respect of…

14.0.1 (1) An amendment relating to defined benefits is void, (a) if the amendment purports to increase an amount described in clause 14 (1) (a), (b) or (c); and (b) if, after the increase, the solvency ratio or the going concern funded ratio of the pension plan, determined in accordance with the regulations, would be below the prescribed level. 2010, c. 24, s. 5; 2017, c. 34, Sched. 33, s. 3 (1, 2). Target benefits (1.1) An amendment relating to target benefits is void, (a) if the amendment purports to increase an amount described in clause 14 (1) (a), (b) or (c); and (b) if the prescribed circumstances apply. 2017, c. 34, Sched. 33, s. 3 (3). Note: On a day to be named by order of the Lieutenant Governor in Council, section 14.0.1 of the Act is amended by adding the following subsection: (See: 2026, c. 2, Sched. 13, s. 3 (1)) Variable life benefits (1.2) An amendment relating to variab…

14.1 (1) A pension plan must provide for the accrual of pension benefits in a gradual and uniform manner. 2010, c. 9, s. 9. Variable contributions or pension benefits (2) A pension plan must not provide that the formula for computation of the employer’s contributions under the pension plan or the pension benefit provided under the pension plan is variable at the discretion of the employer. 2010, c. 9, s. 9. Variable deferred profit-sharing (3) A deferred profit-sharing pension plan or a pension plan that provides defined contribution benefits must not provide that the formula governing allocation of contributions under the pension plan and profits among members of the plan is variable at the discretion of the employer. 2010, c. 9, s. 9. Exception (4) The Chief Executive Officer may register a pension plan that does not comply with subsection (1), (2) or (3), and the Chief Executive Offic…

15 The Chief Executive Officer shall issue an acknowledgment of application for registration of a pension plan within thirty days after receiving an application for the registration that complies with section 9. R.S.O. 1990, c. P.8, s. 15; 1997, c. 28, s. 194; 2018, c. 8, Sched. 23, s. 23. Section Amendments with date in force (d/m/y) 1997, c. 28, s. 194 - 01/01/1998 2018, c. 8, Sched. 23, s. 23 - 08/06/2019

16 The Chief Executive Officer shall issue a certificate of registration for each pension plan registered under this Act. R.S.O. 1990, c. P.8, s. 16; 2018, c. 8, Sched. 23, s. 23. Section Amendments with date in force (d/m/y) 2018, c. 8, Sched. 23, s. 23 - 08/06/2019

17 The Chief Executive Officer shall issue a notice of registration for each amendment to a pension plan registered under this Act. R.S.O. 1990, c. P.8, s. 17; 2018, c. 8, Sched. 23, s. 23. Section Amendments with date in force (d/m/y) 2018, c. 8, Sched. 23, s. 23 - 08/06/2019

18 (1) The Chief Executive Officer may, (a) refuse to register a pension plan that does not comply with this Act and the regulations; (b) revoke the registration of a pension plan that does not comply with this Act and the regulations; (c) revoke the registration of a pension plan that is not being administered in accordance with this Act, the regulations and the Authority rules; (d) refuse to register an amendment to a pension plan if the amendment is void or if the pension plan with the amendment would cease to comply with this Act and the regulations; (e) revoke the registration of an amendment that does not comply with this Act and the regulations; (f) refuse to register part of an amendment to a pension plan if the part is void or if the pension plan with that part of the amendment would cease to comply with this Act and the regulations; (g) revoke the registration of a part of an a…

19 (1) The administrator of a pension plan shall ensure that the pension plan and the pension fund are administered in accordance with this Act, the regulations and the Authority rules. R.S.O. 1990, c. P.8, s. 19 (1); 2017, c. 34, Sched. 33, s. 5. Application of subs. (1) (2) Subsection (1) applies whether or not the pension plan is amended to comply with this Act and the regulations. R.S.O. 1990, c. P.8, s. 19 (2). Idem (3) The administrator of a pension plan shall ensure that the pension plan and the pension fund are administered in accordance with, (a) the filed documents in respect of which the Chief Executive Officer has issued an acknowledgment of application for registration or a certificate of registration, whichever is issued later; and (b) the filed documents in respect of an application for registration of an amendment to the pension plan, if the application complies with this…

20 (1) The administrator of a pension plan shall file each year an annual information return in respect of the pension plan within the prescribed period and in the form approved by the Chief Executive Officer and shall pay the filing fee established by the Minister. 1997, c. 28, s. 195; 2017, c. 34, Sched. 33, s. 6 (1); 2018, c. 8, Sched. 23, s. 23. Additional reports (2) The administrator of a pension plan shall file additional reports at the prescribed times and containing the prescribed information. R.S.O. 1990, c. P.8, s. 20 (2); 2017, c. 34, Sched. 33, s. 6 (2). Section Amendments with date in force (d/m/y) 1997, c. 28, s. 195 - 01/01/1998 2017, c. 34, Sched. 33, s. 6 (1, 2) - 08/06/2019 2018, c. 8, Sched. 23, s. 23 - 08/06/2019

21 An administrator of a pension plan shall file a certified copy of a reciprocal transfer agreement entered into in respect of the pension plan. R.S.O. 1990, c. P.8, s. 21. Note: On a day to be named by proclamation of the Lieutenant Governor, section 21 of the Act is amended by adding the following subsection: (See: 2020, c. 36, Sched. 37, s. 3 (1)) Requirements (2) The reciprocal transfer agreement must satisfy such requirements as may be prescribed. 2020, c. 36, Sched. 37, s. 3 (1). Note: On a day to be named by proclamation of the Lieutenant Governor, section 21 of the Act is amended by adding the following subsection: (See: 2020, c. 36, Sched. 37, s. 3 (2)) Same (3) The administrator shall not transfer money or credits for employment under a reciprocal transfer agreement unless it complies with subsection (2). 2020, c. 36, Sched. 37, s. 3 (2). Section Amendments with date in force …

22 (1) The administrator of a pension plan shall exercise the care, diligence and skill in the administration and investment of the pension fund that a person of ordinary prudence would exercise in dealing with the property of another person. R.S.O. 1990, c. P.8, s. 22 (1). Special knowledge and skill (2) The administrator of a pension plan shall use in the administration of the pension plan and in the administration and investment of the pension fund all relevant knowledge and skill that the administrator possesses or, by reason of the administrator’s profession, business or calling, ought to possess. R.S.O. 1990, c. P.8, s. 22 (2). Member of pension committee, etc. (3) Subsection (2) applies with necessary modifications to a member of a pension committee or board of trustees that is the administrator of a pension plan and to a member of a board, agency or commission made responsible by…

22.1 (1) The administrator of a pension plan is entitled to be paid from the pension fund the administrator’s reasonable fees and expenses relating to the administration of the pension plan and the administration and investment of the pension fund. 2010, c. 24, s. 8 (1). Exception (2) However, the administrator is not entitled to be paid from the pension fund any fees and expenses relating to the administration of the pension plan or the administration and investment of the pension fund, (a) if payment to the administrator is prohibited, or payment of the fees and expenses is otherwise provided for, under the documents that create and support the pension plan or the pension fund; or (b) if payment to the administrator is prohibited, or payment of those fees and expenses is otherwise provided for, under the Act or regulations. 2010, c. 24, s. 8 (1). Same, members of pension committee, etc…

23 An employer shall provide to the administrator of the pension plan any information required by the administrator for the purpose of complying with the terms of the pension plan or of this Act, the regulations or the Authority rules. R.S.O. 1990, c. P.8, s. 23; 2017, c. 34, Sched. 33, s. 7. Section Amendments with date in force (d/m/y) 2017, c. 34, Sched. 33, s. 7 - 08/06/2019 CTS 04 SE 18 - 3

23.1 (1) The Chief Executive Officer may, in writing, order that an administrator of a pension plan hold a meeting at which matters specified by the Chief Executive Officer are discussed. 2017, c. 8, Sched. 27, s. 3; 2018, c. 8, Sched. 23, s. 23. Same (2) The order may specify the time within which the meeting must be held. 2017, c. 8, Sched. 27, s. 3. Same (3) The Chief Executive Officer may, (a) participate in the meeting; (b) require the administrator to invite members, former members, retired members or any other persons entitled to benefits under the pension plan to attend the meeting; and (c) require the administrator to permit other interested persons to attend the meeting. 2017, c. 8, Sched. 27, s. 3; 2018, c. 8, Sched. 23, s. 23. Section Amendments with date in force (d/m/y) 2017, c. 8, Sched. 27, s. 3 - 17/05/2017 2018, c. 8, Sched. 23, s. 23 - 08/06/2019

24 (1) The members and retired members of a pension plan, by the decision of a majority of them participating in a vote, may establish an advisory committee in accordance with such conditions and subject to such restrictions as may be prescribed. R.S.O. 1990, c. P.8, s. 24 (1); 2010, c. 9, s. 11 (1, 2). Same (2) If members of the pension plan are represented by a trade union, the trade union may act on their behalf for the purpose of establishing an advisory committee. 2010, c. 9, s. 11 (3). Representation (3) The following rules govern the composition of the advisory committee: 1. Each class of employees that is represented in the pension plan is entitled to appoint at least one representative to the advisory committee. 2. If there is only one class of employees that is represented in the pension plan, that class is entitled to appoint at least two representatives to the committee. 3. T…

Record Keeping and Disclosure Note: On a day to be named by proclamation of the Lieutenant Governor, the Act is amended by adding the following section: (See: 2020, c. 36, Sched. 37, s. 4)

24.1 The administrator of a pension plan shall retain the prescribed records about the pension plan and the pension fund for the prescribed period of time. 2020, c. 36, Sched. 37, s. 4. Section Amendments with date in force (d/m/y) 2010, c. 9, s. 13 - no effect - see 2020, c. 36, Sched. 37, s. 25 - 08/12/2020 2020, c. 36, Sched. 37, s. 4 - not in force

25 (1) The administrator of a pension plan shall provide in writing to each person who will be eligible or is required to become a member of the pension plan, (a) an explanation of the provisions of the plan that apply to the person; (b) an explanation of the person’s rights and obligations in respect of the pension plan; and (c) any other prescribed information. R.S.O. 1990, c. P.8, s. 25 (1); 2017, c. 34, Sched. 33, s. 8. Time (2) The administrator shall provide the information mentioned in subsection (1), (a) to each person who becomes a member within the prescribed period of time after the date on which the pension plan is established; (b) to a person who is likely to become eligible to become a member of the pension plan, within the prescribed period of time before the date on which the person is likely to become eligible; (c) to each person who becomes eligible to become a member o…

25.1 (1) The Chief Executive Officer may, in writing, order an administrator of a pension plan to provide members, former members, retired members and other persons entitled to benefits under the pension plan with the information that the Chief Executive Officer specifies in the order. 2017, c. 8, Sched. 27, s. 4; 2018, c. 8, Sched. 23, s. 23, 24. Same (2) The order may specify the manner in which the information is to be provided and the timeline for doing so. 2017, c. 8, Sched. 27, s. 4. Section Amendments with date in force (d/m/y) 2017, c. 8, Sched. 27, s. 4 - 17/05/2017 2018, c. 8, Sched. 23, s. 23, 24 - 08/06/2019 Pension plan amendments

26 (1) If the administrator of a pension plan applies for registration of an amendment to the pension plan that would result in a reduction of pension benefits accruing subsequent to the effective date of the amendment or that would otherwise adversely affect the rights or obligations of a member or former member or of any other person entitled to payment from the pension fund, the Chief Executive Officer shall require the administrator to transmit to such persons as the Chief Executive Officer may specify a written notice containing an explanation of the amendment and inviting comments to be submitted to the administrator and the Chief Executive Officer, and the administrator shall provide to the Chief Executive Officer a copy of the notice and shall certify to the Chief Executive Officer the date on which the last such notice was transmitted. R.S.O. 1990, c. P.8, s. 26 (1); 2018, c. 8,…

27 (1) The administrator of a pension plan shall give to each member annually, within the prescribed period, a written statement containing the prescribed information about the pension plan, the member’s pension benefits and any ancillary benefits. 2017, c. 34, Sched. 33, s. 10. Other statements to former members, retired members (2) The administrator of a pension plan shall give to each former member and retired member, within the prescribed period, a written statement containing the prescribed information about the pension plan or about the member’s pension benefits and any ancillary benefits. 2017, c. 34, Sched. 33, s. 10. Waiver of requirement (3) The Chief Executive Officer may waive the requirement in subsection (2) in respect of a former member or retired member if the Chief Executive Officer is satisfied that the administrator of the pension plan is unable to locate the former me…

28 (1) The administrator of a pension plan shall give to each member who terminates employment with the employer or otherwise ceases to be a member, or to any other person who as a result becomes entitled to a payment under the pension plan, within the prescribed period, a written statement containing the prescribed information about the benefits, rights and obligations of the member or person. 2017, c. 34, Sched. 33, s. 11. Multi-employer pension plan (2) Subsection (1) applies in respect of a multi-employer pension plan where a member ceases to be a member, but does not apply where a member terminates employment with an employer but continues to be a member. R.S.O. 1990, c. P.8, s. 28 (2). Section Amendments with date in force (d/m/y) 2017, c. 34, Sched. 33, s. 11 - 08/06/2019

29 (1) On written request, the administrator of a pension plan shall make available the prescribed records about the pension plan and the pension fund for inspection without charge by, (a) a member, former member or retired member; (b) the spouse of a member, former member or retired member; (c) Repealed: 2010, c. 9, s. 17 (2). (c.1) a former spouse, within the meaning of section 67.1, of a member, former member or retired member but only in such circumstances and for such purposes as may be prescribed; (d) any other person entitled to pension benefits under the pension plan; (e) Repealed: 1999, c. 15, s. 3 (1). (f) a representative of a trade union that represents members of the pension plan; (g) an employer; (h) a person required to make contributions under the pension plan on behalf of an employer; (i) an agent of a person described in any of clauses (a) to (h) who is authorized in wr…

30 (1) The administrator of a pension plan and the persons described in subsection 29 (1) are entitled to inspect the following records at the office of the Chief Executive Officer during the business hours of that office: 1. The filed documents that create and support the pension plan and the pension fund. 2. Such other prescribed documents as are filed in respect of the pension plan and the pension fund. 1999, c. 15, s. 4; 2010, c. 9, s. 18 (1); 2018, c. 8, Sched. 23, s. 23. Obtaining copies during inspection (2) Upon payment of the applicable fee, the Chief Executive Officer shall give the person making an inspection under subsection (1) a copy of any record that the person is entitled to inspect. 2010, c. 9, s. 18 (3); 2018, c. 8, Sched. 23, s. 23. Same, by mail or electronically (3) If the Chief Executive Officer receives a written request from the administrator or from a person des…

30.1 (1) This section only applies to documents that this Act, the regulations or the Authority rules require the administrator of a pension plan to send. 2019, c. 14, Sched. 9, s. 25. Personal information (2) The administrator shall not send a document in electronic form if the document contains personal information or any prescribed information, unless the administrator sends the document by way of a secure information system that, (a) requires the intended recipient to identify themselves prior to accessing the document; and (b) complies with any other prescribed conditions, requirements, limitations or prohibitions, including any requirements concerning methods of identification for the purpose of clause (a). 2019, c. 14, Sched. 9, s. 25. Notice re electronic form of delivery (3) The administrator may send a notice to a member or former member by regular mail to his or her last known…

30.1.1 (1) An administrator may permit members, former members and retired members to designate beneficiaries electronically for the purposes of any provision in this Act permitting the designation of a beneficiary. 2018, c. 17, Sched. 33, s. 2; 2020, c. 7, Sched. 15, s. 2. Same (2) The administrator shall comply with any prescribed requirements respecting the electronic designation of beneficiaries. 2018, c. 17, Sched. 33, s. 2. Section Amendments with date in force (d/m/y) 2018, c. 17, Sched. 33, s. 2 - 06/12/2018 2020, c. 7, Sched. 15, s. 2 - 12/05/2020 Note: On a day to be named by proclamation of the Lieutenant Governor, the Act is amended by adding the following section before the heading “Membership”: (See: 2017, c. 34, Sched. 33, s. 12)

30.2 (1) The Chief Executive Officer shall, in accordance with any prescribed requirements, establish, maintain and operate an electronic registry relating to beneficiaries who are missing. 2017, c. 34, Sched. 33, s. 12; 2018, c. 8, Sched. 23, s. 4. Interpretation (2) A reference to a beneficiary in this section is a reference to a beneficiary of a pension plan. 2017, c. 34, Sched. 33, s. 12. Purposes (3) The purposes of the registry are as follows: 1. To help beneficiaries locate benefits or payments they are owed under pension plans. 2. Such other purposes as may be prescribed. 2017, c. 34, Sched. 33, s. 12. Organization, form (4) The registry shall be organized in the manner and kept in the form that the Chief Executive Officer may determine. 2017, c. 34, Sched. 33, s. 12; 2018, c. 8, Sched. 23, s. 4. Duty to notify the Chief Executive Officer (5) If an administrator of a pension plan…

Membership

31 (1) Every employee of a class of employees for whom a pension plan is established is eligible to be a member of the pension plan. Full-time employment (2) An employee in a class of employees for whom a pension plan is maintained is entitled to become a member of the pension plan upon application at any time after completing twenty-four months of continuous full-time employment. Part-time employment (3) A pension plan may require not more than twenty-four months of less than full-time continuous employment with the employer, with the lesser of, (a) earnings of not less than 35 per cent of the Year’s Maximum Pensionable Earnings; or (b) 700 hours of employment with the employer, in each of two consecutive calendar years immediately prior to membership in the pension plan, or such equivalent basis as is approved by the Chief Executive Officer, as a condition precedent to membership in th…

32 A member of a pension plan who is employed continuously on a less than full-time basis does not cease to be a member by reason only that he or she has earnings of less than 35 per cent of the Year’s Maximum Pensionable Earnings in a calendar year or is employed for fewer than 700 hours in a calendar year. R.S.O. 1990, c. P.8, s. 32.

33 (1) Where there is a dispute as to whether or not an employee is a member of a class of employees for whom a pension plan is established or maintained, the Chief Executive Officer, subject to section 89, by order may require the administrator to accept the employee as a member. R.S.O. 1990, c. P.8, s. 33 (1); 2018, c. 8, Sched. 23, s. 23. Ground for order (2) The Chief Executive Officer may make the order if the Chief Executive Officer is of the opinion that, on the basis of the nature of the employment or of the terms of employment of the employee, the employee is a member of the class. R.S.O. 1990, c. P.8, s. 33 (2); 2018, c. 8, Sched. 23, s. 23. Section Amendments with date in force (d/m/y) 2018, c. 8, Sched. 23, s. 23 - 08/06/2019

34 (1) An employer may establish or maintain a separate pension plan for employees employed in less than full-time continuous employment if the separate pension plan provides pension benefits and other benefits reasonably equivalent to those provided under the pension plan maintained by the employer for employees of the same class employed in full-time continuous employment. R.S.O. 1990, c. P.8, s. 34. Same, jointly sponsored pension plan (2) If the documents that create and support a jointly sponsored pension plan so authorize, a prescribed person or entity may establish or maintain a separate jointly sponsored pension plan for employees employed in less than full-time continuous employment if the separate plan provides pension benefits and other benefits reasonably equivalent to those provided under the jointly sponsored pension plan maintained for employees of the same class employed …

Retirement

35 (1) The normal retirement date under a pension plan submitted for registration after the 1st day of January, 1988 shall not be later than one year after the attainment of sixty-five years of age. R.S.O. 1990, c. P.8, s. 35 (1). Transitional (2) Every pension plan registered or submitted for registration before the 1st day of January, 1988 shall be deemed to specify a normal retirement date in respect of pension benefits that accrue after the 1st day of January, 1988, that is not later than one year after attainment of sixty-five years of age, unless the pension plan specifies an earlier retirement date. R.S.O. 1990, c. P.8, s. 35 (2). Right to pension (3) If a member of a pension plan continues employment and membership in the pension plan after reaching the normal retirement date under the plan, he or she is entitled, on termination of employment, to payment of, (a) the pension benef…

35.1 Section Amendments with date in force (d/m/y) 2010, c. 9, s. 22 - no effect - see Table of Public Statute Provisions Repealed Under Section 10.1 of the Legislation Act, 2006 - 31/12/2020

36 (1) A member of a pension plan who terminates his or her employment with the employer on or after the day on which subsection 23 (1) of the Pension Benefits Amendment Act, 2010 comes into force and before reaching the normal retirement date under the pension plan is entitled to the benefit described in subsection (3) in connection with his or her employment, if any, before January 1, 1987. 2010, c. 9, s. 23 (1). (2) Repealed: 2010, c. 9, s. 23 (1). Amount (3) The benefit is a deferred pension equal to the pension benefit provided under the pension plan as it existed on December 31, 1986 in respect of employment before January 1, 1987 in Ontario or in a designated jurisdiction, (a) under the terms of the pension plan, with respect to employment on or after the qualification date; (b) by an amendment to the pension plan made on or after the qualification date; and (c) by the creation of…

37 (1) A member of a pension plan who is a member on or after the day on which subsection 24 (1) of the Pension Benefits Amendment Act, 2010 comes into force and who terminates his or her employment with the employer before reaching the normal retirement date is entitled to the benefit described in subsection (3) in connection with his or her employment after December 31, 1986. 2010, c. 9, s. 24 (1). (2) Repealed: 2010, c. 9, s. 24 (1). Amount (3) The benefit is a deferred pension equal to the pension benefit provided in respect of employment in Ontario or in a designated jurisdiction, (a) under the pension plan in respect of employment by the employer after the later of the 31st day of December, 1986 or the qualification date; (b) under any amendment made to the pension plan after the 31st day of December, 1986; and (c) under any new pension plan established after the 31st day of Decemb…

38 (1) A person who is, (a) a member of a multi-employer pension plan; (b) a member of a pension plan who is employed by the employer on a less than full-time basis; or (c) a member of a pension plan who has been laid off from employment by the employer,

is entitled to terminate his or her membership in the pension plan if no contributions are paid or are required to be paid to the pension fund by or on behalf of the member for twenty-four consecutive months or for such shorter period of time as is specified in the pension plan. R.S.O. 1990, c. P.8, s. 38 (1). Election (1.1) If the person elects to terminate his or her membership in the pension plan, the membership is terminated when the person delivers written notice of his or her election to the administrator of the pension plan or at the end of the period described in subsection (1), whichever is later. 2010, c. 9, s. 25 (1). Effect of termination (2) For the purpose of determining benefits under this Act, the person is deemed to have terminated his or her employment when his or her membership in the pension plan is terminated. 2010, c. 9, s. 25 (2). Application of subss. (1, 2) (3) S…

Benefits

39 (1) If the commuted value of a deferred pension accrued by a former member or a pension accrued by a retired member, as the case may be, in respect of employment before January 1, 1987 is less than the value of the contributions that he or she was required, as a member, to make under the pension plan before that date, plus interest credited to the contributions, he or she is entitled to have the commuted value of the deferred pension or the pension increased so that the commuted value is equal to the value of the contributions plus interest. 2010, c. 9, s. 26 (1). Effect of amendment (2) An increase in the value of the pension or deferred pension in respect of employment before the 1st day of January, 1987 that results from an amendment to the pension plan made on or after that date may be included in calculating the commuted value of the pension or deferred pension for the purposes o…

39.1 (1) Repealed: 2017, c. 8, Sched. 27, s. 7 (1). Payment of variable benefits authorized (2) A pension plan that provides defined contribution benefits may authorize payment of pension benefits that are variable benefits in the manner authorized by the Income Tax Act (Canada) and in accordance with such requirements and subject to such restrictions as may be prescribed. 2015, c. 20, Sched. 34, s. 2. Waiver of joint and survivor pension (2.1) No variable benefit account shall be established for a retired member who has a spouse who would be entitled to a joint and survivor pension under section 44 unless the retired member and the spouse have waived the entitlement to receive payment of pension benefits in the form of a joint and survivor pension in accordance with subsection 46 (1). 2017, c. 8, Sched. 27, s. 7 (2). Time (2.2) A waiver under subsection (2.1) is not effective unless the…

39.1.1 (1) On the death of a retired member for whom a variable benefit account has been established, the person who is the retired member’s spouse on the date of death is entitled to receive the balance remaining in the retired member’s variable benefit account in a lump sum payment. 2017, c. 8, Sched. 27, s. 8. Interpretation re “spouse” (2) If, on the date of death, a retired member has a spouse described in clause (a) of the definition of “spouse” in subsection 1 (1) from whom the retired member is living separate and apart, that spouse does not have an entitlement under subsection (1). 2017, c. 8, Sched. 27, s. 8. Same (3) If, on the date of death, a retired member has a spouse described in clause (b) of the definition of “spouse” in subsection 1 (1) and a spouse described in clause (a) of that definition from whom the retired member is living separate and apart, the spouse describe…

39.1.2 (1) A specified beneficiary who elects under subsection 39.1.1 (9) to continue receiving the retired member’s variable benefits may designate a beneficiary. 2017, c. 34, Sched. 33, s. 16. Death benefit (2) A beneficiary designated under subsection (1) is entitled to receive the balance remaining in the retired member’s variable benefit account in a lump sum payment on the death of the specified beneficiary. 2017, c. 34, Sched. 33, s. 16. Estate entitlement (3) The personal representative of the specified beneficiary is entitled to receive the balance remaining in the retired member’s variable benefit account in a lump sum payment on the death of the specified beneficiary unless the specified beneficiary has designated a beneficiary who has an entitlement under this section. 2017, c. 34, Sched. 33, s. 16. Definition (4) In this section, “personal representative” has the same meanin…

39.1.3 (1) A pension plan may authorize payment of pension benefits that are variable life benefits in accordance with such requirements and subject to such conditions and restrictions as may be prescribed. 2026, c. 2, Sched. 13, s. 5. Variable life benefits (2) A pension benefit is a variable life benefit if it has the following characteristics: 1. The benefit is not determined on an individual account basis. 2. The benefit is paid only from a variable life benefit fund. 3. The initial amount of the benefit is determined with reference to the amounts described in subsection (8). 4. The amount of the benefit may vary as a function of the following factors: i. The amount or rate of return attributable to the investment of the assets of the variable life benefit fund from which the benefit is paid. ii. The rate of mortality of the pool of persons who are receiving payment of the benefit fr…

39.2 (1) A benefit provided by a pension plan is a target benefit if all of the following criteria are satisfied: 1. The pension plan is a multi-employer pension plan established pursuant to a collective agreement or a trust agreement. 2. Repealed: 2020, c. 36, Sched. 37, s. 6 (1). 3. The documents that create and support the pension plan identify the benefit as a target benefit. 3.1 The benefit is determined in part with reference to the value of the assets of the pension fund, except as provided by the regulations. The benefit must satisfy this criterion both before and after the payments of the pension begin. 3.2 The benefit is not determined on an individual account basis. 4. Except at the time a newly established pension plan is registered under this Act as providing target benefits, the benefit, if accrued, was converted to a target benefit in accordance with section 81.0.2. 5. Eit…