33(1)Subject to section 36, the administrator of a pension plan who is required by the plan to provide a pension, a deferred pension or an ancillary benefit may purchase the pension, deferred pension or ancillary benefit from an insurance company in the prescribed manner and to the prescribed extent and subject to prescribed limitations in relation to transfers of money from pension funds.

33(2)The administrator may permit variation in the terms of payment of a pension or deferred pension by reason of mental or physical disability of the member or former member in accordance with the regulations.

33(3)In the case of a pension plan containing a defined benefit provision, an administrator who has made a purchase under subsection (1) is discharged from liability in respect of the defined benefits if the administrator ensures the prescribed requirements are met.

33(1)Subject to section 36, the administrator of a pension plan who is required by the plan to provide a pension, a deferred pension or an ancillary benefit may purchase the pension, deferred pension or ancillary benefit from an insurance company in the prescribed manner and to the prescribed extent and subject to prescribed limitations in relation to transfers of money from pension funds.

33(2)The administrator may permit variation in the terms of payment of a pension or deferred pension by reason of mental or physical disability of the member or former member in accordance with the regulations.