O. Reg. 386/04: GENERAL
filed December 10, 2004 under Pension Benefits Act, R.S.O. 1990, c. P.8
Skip to contentontario regulation 386/04
made under the
pension benefits act
Made: December 8, 2004
Filed: December 10, 2004
Printed in The Ontario Gazette: December 25, 2004
Amending Reg. 909 of R.R.O. 1990
(General)
1. (1) Paragraph 3 of subsection 4 (4) of Regulation 909 of the Revised Regulations of Ontario, 1990 is amended by striking out “Employer contributions” at the beginning and substituting “In the case of a pension plan that provides defined benefits, employer contributions”.
(2) Subsection 4 (4) of the Regulation is amended by adding the following paragraph:
3.1 Where all the pension benefits provided under the plan are defined contribution benefits, employer contributions for the plan’s fiscal year, in monthly instalments within 30 days after the month for which contributions are payable, the amount of the instalments to be either a total fixed dollar amount, a fixed dollar amount for each employee or member of the plan or a fixed percentage either of the portion of the payroll related to members of the plan or of employee contributions.
2. Subsection 8 (3) of the Regulation is revoked and the following substituted:
(3) Subsections (1) and (2) do not apply after December 31, 2006.
3. Subsection 13 (1) of the Regulation is amended by striking out “sixty days” in the portion before clause (a) and substituting “90 days”.
4. Subsection 19 (1) of the Regulation is amended by striking out “in accordance with “Recommendations for the Computation of Transfer Values from Registered Pension Plans” issued by the Canadian Institute of Actuaries and effective September 1, 1993” at the end and substituting “in accordance with the Standard of Practice for Determining Pension Commuted Values issued by the Canadian Institute of Actuaries, with an effective date of February 1, 2005, available to the public from the Canadian Institute of Actuaries at Suite 800, 150 Metcalfe Street, Ottawa, Ontario K2P 1P1 or electronically on its web site at www.actuaries.ca”.
5. Paragraph 2 of subsection 22.2 (7) of the Regulation is amended by striking out “Canada Customs and Revenue Agency” and substituting “Canada Revenue Agency”.
6. (1) Clause 28 (1) (d) of the Regulation is amended by striking out “Part XIV of the Employment Standards Act” at the end and substituting “Part XV of the Employment Standards Act, 2000”.
(2) Clause 28 (2) (t) of the Regulation is amended by striking out “Canada Customs and Revenue Agency” and substituting “Canada Revenue Agency”.
7. Paragraph 9 of subsection 28.1 (2) of the Regulation is amended by striking out “Canada Customs and Revenue Agency” and substituting “Canada Revenue Agency”.
8. Subsection 29 (2) of the Regulation is amended by striking out “the Recommendations for the Computation of Transfer Values from Registered Pension Plans issued by the Canadian Institute of Actuaries with an effective date of September 1, 1993” at the end and substituting “the Standard of Practice for Determining Pension Commuted Values issued by the Canadian Institute of Actuaries with an effective date of February 1, 2005, available to the public from the Canadian Institute of Actuaries at Suite 800, 150 Metcalfe Street, Ottawa, Ontario K2P 1P1 or electronically on its web site at www.actuaries.ca”.
9. (1) Paragraph 7 of subsection 47 (1) of the Regulation is revoked.
(2) Subsection 47 (1) of the Regulation is amended by adding the following paragraphs:
8.1 The Registered Pension Plan for Employees of The Township of North Glengarry.
. . . . .
12.1 Public Service Pension Plan.
(3) Paragraph 14 of subsection 47 (1) of the Regulation is revoked and the following substituted:
14. The Metropolitan Toronto Pension Plan.
10. Section 56 of the Regulation is amended by adding the following subsection:
(2) In this section,
“valuation date” means the valuation date as defined in subsection 4 (1) of the Family Law Act.
11. Form 4 of the Regulation is revoked.
12. (1) Subject to subsection (2), this Regulation comes into force on the day it is filed.
(2) Sections 4 and 8 come into force on February 1, 2005.