Acts and Regulations

91-195 - General

Section 16
Disposition versions

Full text
Statements on termination of employment, retirement or death
16(1)A written statement given under subsection 26(1) of the Act to a member who terminates employment or otherwise ceases to be a member of a pension plan for reasons other than retirement or death and who is entitled to a deferred pension shall contain the following information, as recorded on the records of the administrator:
(a) the name of the plan and its provincial registration number;
(b) the member’s name, mailing address, social insurance number and date of birth;
(c) the date on which the member became a member, the number of years, including parts of a year, of continuous employment of the member and, if applicable, the number of years, including parts of a year, of employment credited under the plan;
(d) the member’s retirement date under the plan;
(e) the periodic amount of the deferred pension to which the member is entitled under the plan on termination of employment or cessation of membership and any options respecting the deferred pension including the dates of early and postponed commencement of the payment of pension;
(f) the amount of any accumulated additional voluntary contributions made by the member, including interest credited to those contributions, to the end of the period covered by the statement;
(g) the amount of any excess employee contributions;
(h) if applicable, the formula for reducing the deferred pension by reason of payments under the Canada Pension Plan, the Quebec Pension Plan or the Old Age Security Act (Canada) and the amount of the resulting reduction to the periodic amount of the deferred pension;
(i) an explanation of any indexation provisions, including an escalated adjustment, applicable to the deferred pension;
(j) the commuted value of the deferred pension determined in accordance with subsection 35(7) of the Act and this Regulation or, where the commuted value determined under the plan is more advantageous to the member, the commuted value determined under the plan;
(k) if the deferred pension to which the member is entitled relates to employment after the commencement of section 35 of the Act and is not a deferred pension to which subsection 35(2) of the Act applies, the amount of accumulated contributions made by the member, with interest, in respect of employment after the commencement of section 35 of the Act;
(l) an explanation of the benefit payable on death if the member were to die before the commencement of payment of the deferred pension;
(m) an explanation of the pension payable on death if the member or the member’s spouse or common-law partner were to die after the commencement of payment of the pension;
(n) an explanation of any other benefit to which the member may be entitled under the plan and, where applicable, the date on which the benefit would commence to be paid and the date on which the benefit would cease to be paid; and
(o) an explanation of the member’s options under section 36 of the Act, including
(i) the date before which the member must deliver a direction to the administrator, and
(ii) in respect of a transfer or purchase, the transfer value that may be transferred immediately and the manner in which any balance will be transferred.
16(2)A written statement given under subsection 26(1) of the Act to a member who terminates employment or otherwise ceases to be a member of a pension plan for reasons other than retirement or death and who is not entitled to a deferred pension shall contain the following information, as recorded on the records of the administrator:
(a) the name of the plan and its provincial registration number;
(b) the member’s name, mailing address, social insurance number and date of birth;
(c) the date on which the member became a member, the number of years, including parts of a year, of continuous employment of the member and, if applicable, the number of years, including parts of a year, of employment credited under the plan;
(d) the amount of any contributions, excluding contributions referred to in paragraph (e), that have been made to the pension fund by the member, including interest credited to those contributions, to the end of the period covered by the statement;
(e) the amount of any accumulated additional voluntary contributions made by the member, including interest credited to those contributions, to the end of the period covered by the statement;
(f) a description of any other benefits under the plan to which the member may be entitled; and
(g) an explanation of any options that the member may elect and the date before which the member must deliver a direction to the administrator.
16(3)A written statement given under subsection 26(1) of the Act to a member of a pension plan who is retiring shall contain the following information, as recorded on the records of the administrator:
(a) the name of the plan and its provincial registration number;
(b) the member’s name, mailing address, social insurance number and date of birth;
(c) the date on which the member became a member, the number of years, including parts of a year, of continuous employment of the member and, if applicable, the number of years, including parts of a year, of employment credited under the plan;
(d) an explanation of any options respecting payment that the member may elect and the date before which the member must deliver a direction to the administrator;
(e) the date on which payment of the member’s pension will commence;
(f) the periodic amount of the pension to which the member is or will be entitled based on any options elected by the member and, if applicable,
(i) the amount by which the periodic amount was or will be reduced or increased as a result of the member’s election of early or postponed retirement,
(ii) the amount by which the periodic amount is or will be increased as the result of a purchase of benefits with any additional voluntary contributions with interest,
(iii) the amount of any pension benefit purchased with the commuted value of a deferred pension, with interest, previously transferred to the plan on behalf of the member from another pension plan and the resulting increase in the periodic amount,
(iv) the formula for reducing the pension by reason of payments under the Canada Pension Plan, the Quebec Pension Plan or the Old Age Security Act (Canada) and the amount of the resulting reduction to the periodic amount of the pension,
(v) the amount of any bridging benefit and the date on which payment of the bridging benefit commences and ceases, and
(vi) an explanation of any indexation provisions, including those relating to an escalated adjustment, applicable to the pension;
(g) the amount of any excess employee contributions and the rate of interest to be credited on those contributions from the date of retirement to the date of payment, inclusive;
(h) a description of any benefit payable in the event of the member’s death and the name of the designated beneficiary of that benefit;
(i) a description of any benefit payable in the event of the death of the member’s spouse or common-law partner; and
(j) a description of any other benefit or payment under the plan to which the member is or may be entitled.
16(4)A written statement given under subsection 26(1) of the Act to a person who, as a result of the death of a member or of a person who has terminated employment or otherwise ceased to be a member of a pension plan and was entitled to a deferred pension payable from the pension fund, becomes entitled to a benefit under a pension plan shall contain the following information, as recorded on the records of the administrator:
(a) the name of the plan and its provincial registration number;
(b) respecting a deferred pension
(i) the commuted value of the deferred pension determined in accordance with subsection 35(7) of the Act and this Regulation or, where the commuted value determined under the plan is more advantageous to the person, the commuted value determined under the plan,
(ii) the amount of the pre-retirement death benefit and, where the deceased is covered by a group life insurance plan, any amount by which the pre-retirement death benefit was reduced by the amount of the death benefit payable under the group life insurance plan, and
(iii) the amount of any excess employee contributions;
(c) if applicable, the amount of the deceased person’s accumulated contributions with interest;
(d) the amount of any accumulated additional voluntary contributions with interest;
(e) a description of any other benefits under the pension plan to which the person may be entitled; and
(f) an explanation of any options that the person may elect and the date before which the person must deliver a direction to the administrator.
16(5)If the commuted value of a benefit to which a written statement prepared under this section relates has been divided under section 44 of the Act, amounts and values contained in the statement shall reflect the revaluation made under section 44 of the Act and under this Regulation.
2002, c.12, s.32; 2011-60
Statements on termination of employment, retirement or death
16(1)A written statement given under subsection 26(1) of the Act to a member who terminates employment or otherwise ceases to be a member of a pension plan for reasons other than retirement or death and who is entitled to a deferred pension shall contain the following information, as recorded on the records of the administrator:
(a) the name of the plan and its provincial registration number;
(b) the member’s name, mailing address, social insurance number and date of birth;
(c) the date on which the member became a member, the number of years, including parts of a year, of continuous employment of the member and, if applicable, the number of years, including parts of a year, of employment credited under the plan;
(d) the member’s retirement date under the plan;
(e) the periodic amount of the deferred pension to which the member is entitled under the plan on termination of employment or cessation of membership and any options respecting the deferred pension including the dates of early and postponed commencement of the payment of pension;
(f) the amount of any accumulated additional voluntary contributions made by the member, including interest credited to those contributions, to the end of the period covered by the statement;
(g) the amount of any excess employee contributions;
(h) if applicable, the formula for reducing the deferred pension by reason of payments under the Canada Pension Plan, the Quebec Pension Plan or the Old Age Security Act (Canada) and the amount of the resulting reduction to the periodic amount of the deferred pension;
(i) an explanation of any indexation provisions, including an escalated adjustment, applicable to the deferred pension;
(j) the commuted value of the deferred pension determined in accordance with subsection 35(7) of the Act and this Regulation or, where the commuted value determined under the plan is more advantageous to the member, the commuted value determined under the plan;
(k) if the deferred pension to which the member is entitled relates to employment after the commencement of section 35 of the Act and is not a deferred pension to which subsection 35(2) of the Act applies, the amount of accumulated contributions made by the member, with interest, in respect of employment after the commencement of section 35 of the Act;
(l) an explanation of the benefit payable on death if the member were to die before the commencement of payment of the deferred pension;
(m) an explanation of the pension payable on death if the member or the member’s spouse or common-law partner were to die after the commencement of payment of the pension;
(n) an explanation of any other benefit to which the member may be entitled under the plan and, where applicable, the date on which the benefit would commence to be paid and the date on which the benefit would cease to be paid; and
(o) an explanation of the member’s options under section 36 of the Act, including
(i) the date before which the member must deliver a direction to the administrator, and
(ii) in respect of a transfer or purchase, the transfer value that may be transferred immediately and the manner in which any balance will be transferred.
16(2)A written statement given under subsection 26(1) of the Act to a member who terminates employment or otherwise ceases to be a member of a pension plan for reasons other than retirement or death and who is not entitled to a deferred pension shall contain the following information, as recorded on the records of the administrator:
(a) the name of the plan and its provincial registration number;
(b) the member’s name, mailing address, social insurance number and date of birth;
(c) the date on which the member became a member, the number of years, including parts of a year, of continuous employment of the member and, if applicable, the number of years, including parts of a year, of employment credited under the plan;
(d) the amount of any contributions, excluding contributions referred to in paragraph (e), that have been made to the pension fund by the member, including interest credited to those contributions, to the end of the period covered by the statement;
(e) the amount of any accumulated additional voluntary contributions made by the member, including interest credited to those contributions, to the end of the period covered by the statement;
(f) a description of any other benefits under the plan to which the member may be entitled; and
(g) an explanation of any options that the member may elect and the date before which the member must deliver a direction to the administrator.
16(3)A written statement given under subsection 26(1) of the Act to a member of a pension plan who is retiring shall contain the following information, as recorded on the records of the administrator:
(a) the name of the plan and its provincial registration number;
(b) the member’s name, mailing address, social insurance number and date of birth;
(c) the date on which the member became a member, the number of years, including parts of a year, of continuous employment of the member and, if applicable, the number of years, including parts of a year, of employment credited under the plan;
(d) an explanation of any options respecting payment that the member may elect and the date before which the member must deliver a direction to the administrator;
(e) the date on which payment of the member’s pension will commence;
(f) the periodic amount of the pension to which the member is or will be entitled based on any options elected by the member and, if applicable,
(i) the amount by which the periodic amount was or will be reduced or increased as a result of the member’s election of early or postponed retirement,
(ii) the amount by which the periodic amount is or will be increased as the result of a purchase of benefits with any additional voluntary contributions with interest,
(iii) the amount of any pension benefit purchased with the commuted value of a deferred pension, with interest, previously transferred to the plan on behalf of the member from another pension plan and the resulting increase in the periodic amount,
(iv) the formula for reducing the pension by reason of payments under the Canada Pension Plan, the Quebec Pension Plan or the Old Age Security Act (Canada) and the amount of the resulting reduction to the periodic amount of the pension,
(v) the amount of any bridging benefit and the date on which payment of the bridging benefit commences and ceases, and
(vi) an explanation of any indexation provisions, including those relating to an escalated adjustment, applicable to the pension;
(g) the amount of any excess employee contributions and the rate of interest to be credited on those contributions from the date of retirement to the date of payment, inclusive;
(h) a description of any benefit payable in the event of the member’s death and the name of the designated beneficiary of that benefit;
(i) a description of any benefit payable in the event of the death of the member’s spouse or common-law partner; and
(j) a description of any other benefit or payment under the plan to which the member is or may be entitled.
16(4)A written statement given under subsection 26(1) of the Act to a person who, as a result of the death of a member or of a person who has terminated employment or otherwise ceased to be a member of a pension plan and was entitled to a deferred pension payable from the pension fund, becomes entitled to a benefit under a pension plan shall contain the following information, as recorded on the records of the administrator:
(a) the name of the plan and its provincial registration number;
(b) respecting a deferred pension
(i) the commuted value of the deferred pension determined in accordance with subsection 35(7) of the Act and this Regulation or, where the commuted value determined under the plan is more advantageous to the person, the commuted value determined under the plan,
(ii) the amount of the pre-retirement death benefit and, where the deceased is covered by a group life insurance plan, any amount by which the pre-retirement death benefit was reduced by the amount of the death benefit payable under the group life insurance plan, and
(iii) the amount of any excess employee contributions;
(c) if applicable, the amount of the deceased person’s accumulated contributions with interest;
(d) the amount of any accumulated additional voluntary contributions with interest;
(e) a description of any other benefits under the pension plan to which the person may be entitled; and
(f) an explanation of any options that the person may elect and the date before which the person must deliver a direction to the administrator.
16(5)If the commuted value of a benefit to which a written statement prepared under this section relates has been divided under section 44 of the Act, amounts and values contained in the statement shall reflect the revaluation made under section 44 of the Act and under this Regulation.
2002, c.12, s.32; 2011-60
Statements on termination of employment, retirement or death
16(1)A written statement given under subsection 26(1) of the Act to a member who terminates employment or otherwise ceases to be a member of a pension plan for reasons other than retirement or death and who is entitled to a deferred pension shall contain the following information, as recorded on the records of the administrator:
(a) the name of the plan and its provincial registration number;
(b) the member’s name, mailing address, social insurance number and date of birth;
(c) the date on which the member became a member, the number of years, including parts of a year, of continuous employment of the member and, if applicable, the number of years, including parts of a year, of employment credited under the plan;
(d) the member’s retirement date under the plan;
(e) the periodic amount of the deferred pension to which the member is entitled under the plan on termination of employment or cessation of membership and any options respecting the deferred pension including the dates of early and postponed commencement of the payment of pension;
(f) the amount of any accumulated additional voluntary contributions made by the member, including interest credited to those contributions, to the end of the period covered by the statement;
(g) the amount of any excess employee contributions;
(h) if applicable, the formula for reducing the deferred pension by reason of payments under the Canada Pension Plan, the Quebec Pension Plan or the Old Age Security Act (Canada) and the amount of the resulting reduction to the periodic amount of the deferred pension;
(i) an explanation of any indexation provisions, including an escalated adjustment, applicable to the deferred pension;
(j) the commuted value of the deferred pension determined in accordance with subsection 35(7) of the Act and this Regulation or, where the commuted value determined under the plan is more advantageous to the member, the commuted value determined under the plan;
(k) if the deferred pension to which the member is entitled relates to employment after the commencement of section 35 of the Act and is not a deferred pension to which subsection 35(2) of the Act applies, the amount of accumulated contributions made by the member, with interest, in respect of employment after the commencement of section 35 of the Act;
(l) an explanation of the benefit payable on death if the member were to die before the commencement of payment of the deferred pension;
(m) an explanation of the pension payable on death if the member or the member’s spouse were to die after the commencement of payment of the pension;
(n) an explanation of any other benefit to which the member may be entitled under the plan and, where applicable, the date on which the benefit would commence to be paid and the date on which the benefit would cease to be paid; and
(o) an explanation of the member’s options under section 36 of the Act, including
(i) the date before which the member must deliver a direction to the administrator, and
(ii) in respect of a transfer or purchase, the transfer value that may be transferred immediately and the manner in which any balance will be transferred.
16(2)A written statement given under subsection 26(1) of the Act to a member who terminates employment or otherwise ceases to be a member of a pension plan for reasons other than retirement or death and who is not entitled to a deferred pension shall contain the following information, as recorded on the records of the administrator:
(a) the name of the plan and its provincial registration number;
(b) the member’s name, mailing address, social insurance number and date of birth;
(c) the date on which the member became a member, the number of years, including parts of a year, of continuous employment of the member and, if applicable, the number of years, including parts of a year, of employment credited under the plan;
(d) the amount of any contributions, excluding contributions referred to in paragraph (e), that have been made to the pension fund by the member, including interest credited to those contributions, to the end of the period covered by the statement;
(e) the amount of any accumulated additional voluntary contributions made by the member, including interest credited to those contributions, to the end of the period covered by the statement;
(f) a description of any other benefits under the plan to which the member may be entitled; and
(g) an explanation of any options that the member may elect and the date before which the member must deliver a direction to the administrator.
16(3)A written statement given under subsection 26(1) of the Act to a member of a pension plan who is retiring shall contain the following information, as recorded on the records of the administrator:
(a) the name of the plan and its provincial registration number;
(b) the member’s name, mailing address, social insurance number and date of birth;
(c) the date on which the member became a member, the number of years, including parts of a year, of continuous employment of the member and, if applicable, the number of years, including parts of a year, of employment credited under the plan;
(d) an explanation of any options respecting payment that the member may elect and the date before which the member must deliver a direction to the administrator;
(e) the date on which payment of the member’s pension will commence;
(f) the periodic amount of the pension to which the member is or will be entitled based on any options elected by the member and, if applicable,
(i) the amount by which the periodic amount was or will be reduced or increased as a result of the member’s election of early or postponed retirement,
(ii) the amount by which the periodic amount is or will be increased as the result of a purchase of benefits with any additional voluntary contributions with interest,
(iii) the amount of any pension benefit purchased with the commuted value of a deferred pension, with interest, previously transferred to the plan on behalf of the member from another pension plan and the resulting increase in the periodic amount,
(iv) the formula for reducing the pension by reason of payments under the Canada Pension Plan, the Quebec Pension Plan or the Old Age Security Act (Canada) and the amount of the resulting reduction to the periodic amount of the pension,
(v) the amount of any bridging benefit and the date on which payment of the bridging benefit commences and ceases, and
(vi) an explanation of any indexation provisions, including those relating to an escalated adjustment, applicable to the pension;
(g) the amount of any excess employee contributions and the rate of interest to be credited on those contributions from the date of retirement to the date of payment, inclusive;
(h) a description of any benefit payable in the event of the member’s death and the name of the designated beneficiary of that benefit;
(i) a description of any benefit payable in the event of the death of the member’s spouse; and
(j) a description of any other benefit or payment under the plan to which the member is or may be entitled.
16(4)A written statement given under subsection 26(1) of the Act to a person who, as a result of the death of a member or of a person who has terminated employment or otherwise ceased to be a member of a pension plan and was entitled to a deferred pension payable from the pension fund, becomes entitled to a benefit under a pension plan shall contain the following information, as recorded on the records of the administrator:
(a) the name of the plan and its provincial registration number;
(b) respecting a deferred pension
(i) the commuted value of the deferred pension determined in accordance with subsection 35(7) of the Act and this Regulation or, where the commuted value determined under the plan is more advantageous to the person, the commuted value determined under the plan,
(ii) the amount of the pre-retirement death benefit and, where the deceased is covered by a group life insurance plan, any amount by which the pre-retirement death benefit was reduced by the amount of the death benefit payable under the group life insurance plan, and
(iii) the amount of any excess employee contributions;
(c) if applicable, the amount of the deceased person’s accumulated contributions with interest;
(d) the amount of any accumulated additional voluntary contributions with interest;
(e) a description of any other benefits under the pension plan to which the person may be entitled; and
(f) an explanation of any options that the person may elect and the date before which the person must deliver a direction to the administrator.
16(5)If the commuted value of a benefit to which a written statement prepared under this section relates has been divided under section 44 of the Act, amounts and values contained in the statement shall reflect the revaluation made under section 44 of the Act and under this Regulation.
2002, c.12, s.32