Acts and Regulations

91-195 - General

Section 50.2
Disposition versions

Full text
50.2(1)Within sixty days after the last payment is made under subsection 65(4) of the Act, the administrator of the plan shall prepare and file with the Superintendent an additional report setting out the following information:
(a) the assets and liabilities of the pension plan;
(b) the benefits to be provided under the pension plan to members, former members and other persons;
(c) the methods of allocating and distributing the assets of the pension plan and determining the priorities for payment of benefits;
(d) the benefits previously paid under the pension plan pursuant to section 50.1 to members, former members and other persons;
(e) the benefits remaining to be paid to members, former members and other persons;
(f) the amount of interest to be credited to the amounts referred to in paragraph (e); and
(g) if the pension fund contains a surplus, a statement of the method of distributing the surplus and, if applicable, the formula used to allocate the surplus.
50.2(2)Where a solvency deficiency has been amortized and the report referred to in subsection (1) is approved by the Superintendent, the administrator shall immediately make payments to members, former members and other persons entitled to benefits as follows:
(a) the balance of the benefits that were not previously paid, adjusted for interest between the effective date of the wind-up of the plan and the date of the payment of the balance; and
(b) if the pension fund contains a surplus and the surplus is to be distributed among the members, former members and any other persons entitled to benefits, a share of any funds remaining after the payments are made under paragraph (a).
2008-10
50.2(1)Within sixty days after the last payment is made under subsection 65(4) of the Act, the administrator of the plan shall prepare and file with the Superintendent an additional report setting out the following information:
(a) the assets and liabilities of the pension plan;
(b) the benefits to be provided under the pension plan to members, former members and other persons;
(c) the methods of allocating and distributing the assets of the pension plan and determining the priorities for payment of benefits;
(d) the benefits previously paid under the pension plan pursuant to section 50.1 to members, former members and other persons;
(e) the benefits remaining to be paid to members, former members and other persons;
(f) the amount of interest to be credited to the amounts referred to in paragraph (e); and
(g) if the pension fund contains a surplus, a statement of the method of distributing the surplus and, if applicable, the formula used to allocate the surplus.
50.2(2)Where a solvency deficiency has been amortized and the report referred to in subsection (1) is approved by the Superintendent, the administrator shall immediately make payments to members, former members and other persons entitled to benefits as follows:
(a) the balance of the benefits that were not previously paid, adjusted for interest between the effective date of the wind-up of the plan and the date of the payment of the balance; and
(b) if the pension fund contains a surplus and the surplus is to be distributed among the members, former members and any other persons entitled to benefits, a share of any funds remaining after the payments are made under paragraph (a).
2008-10