35.1(1)Subject to the regulations, a defined benefit pension plan may provide for benefits to be paid to a member if
(a)
the member’s hours of work and remuneration are reduced by agreement between the member and the employer,
(b)
the member has reached the normal retirement date under the plan or is within ten years of reaching it, and
(c)
the plan also provides for the member’s pension to be adjusted in accordance with the Income Tax Act (Canada) when he or she retires.
35.1(2)The administrator shall ensure that the plan referred to in subsection (1) complies with the Income Tax Act (Canada) and the regulations under that Act and shall provide the Superintendent with proof of the compliance.
35.1(1)Subject to the regulations, a defined benefit pension plan may provide for benefits to be paid to a member if
(a)
the member’s hours of work and remuneration are reduced by agreement between the member and the employer,
(b)
the member has reached the normal retirement date under the plan or is within ten years of reaching it, and
(c)
the plan also provides for the member’s pension to be adjusted in accordance with the Income Tax Act (Canada) when he or she retires.
35.1(2)The administrator shall ensure that the plan referred to in subsection (1) complies with the Income Tax Act (Canada) and the regulations under that Act and shall provide the Superintendent with proof of the compliance.