O. Reg. 180/12: ABIBOW CANADA INC. PENSION PLANS

Link to law: http://www.ontario.ca/laws/regulation/r12180
Published: 2012-06-26

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ontario regulation 180/12

made under the

pension benefits act

Made: June 20, 2012
Filed: June 26, 2012
Published on e-Laws: June 26, 2012
Printed in The Ontario Gazette: July 14, 2012


Amending O. Reg. 196/11

(AbiBow Canada Inc. Pension Plans)

1. Section 13 of Ontario Regulation 196/11 is amended by adding the following subsection:

(1.1) Subsection (1) does not apply with respect to benefit improvements that are required by law.

2. (1) Subsection 22 (2) of the Regulation is revoked and the following substituted:

(2) For the purpose of determining the amount that the administrator is required by subsection 34 (3) of the General Regulation to pay to each person who is entitled on wind up to payment of benefits or other amounts guaranteed by the Guarantee Fund, the amount calculated under this section shall be substituted for the amount of the variable “A” in paragraph 2 of that subsection.

(2) The definition of “GG” in subsection 22 (3) of the Regulation is revoked and the following substituted:

“GG” is the lesser of FF and the ratio D/E, where “D” and “E” have the same meaning as in paragraph 1 of subsection 34 (4) of the General Regulation.

(3) The definition of “HH” in subsection 22 (3) of the Regulation is amended by striking out “subsection 34 (4)” and substituting “subsection 34 (5)”.

3. (1) The heading before section 36 and subsection 36 (1) of the Regulation are revoked and the following substituted:

Information for Members, Former Members and Retired Members

Statement for members, former members and retired members

(1) Each year, the administrator of a participating Ontario pension plan shall give a statement to the members, former members and retired members described in this section at their last known address.

(2) Paragraph 3 of subsection 36 (2) of the Regulation is revoked and the following substituted:

3. The name of the member, former member or retired member, and a statement indicating whether he or she is a member, former member or retired member of the pension plan.

(3) Paragraph 5 of subsection 36 (2) of the Regulation is revoked and the following substituted:

5. An explanation of how the security of the pension benefits and the ancillary benefits for members, former members and retired members might be affected as a result of the operation of this Regulation.

(4) Subsections 36 (4) and (5) of the Regulation are revoked and the following substituted:

(4) The administrator is required to give the statement to each former member whose deferred pension includes a defined benefit, but not to a former member who no longer has any entitlement to payments from the pension plan.

(5) The administrator is required to give the statement to each retired member whose pension includes a defined benefit, but not to a retired member who no longer has any entitlement to payments from the pension plan.

(6) However, no statement is required if the administrator has received notice of the death of the member, former member or retired member.

Commencement

4. This Regulation comes into force on July 1, 2012.

 

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