Acts and Regulations

P-5.1 - Pension Benefits Act

Section 56.1
Disposition versions

Full text
Transfer of commuted value of deferred pension by non-resident
56.1(1)Upon termination of employment, a member of a pension plan who is entitled to a deferred pension under section 35, is entitled to withdraw the commuted value of the deferred pension from the pension fund if
(a) the member and his or her spouse or common-law partner, if any, are not Canadian citizens,
(b) the member and his or her spouse or common-law partner, if any, are not resident in Canada for the purposes of the Income Tax Act (Canada), and
(c) the member’s spouse or common-law partner, if any, waives, in the form provided by the Superintendent, any rights that he or she may have in the pension fund under this Act, the regulations or the pension plan.
56.1(2)If a member makes a withdrawal under subsection (1), the member is no longer entitled to a deferred pension under section 35.
2002, c.12, s.27; 2008, c.5, s.13; 2015, c.31, s.6
Transfer of commuted value of deferred pension by non-resident
56.1(1)Upon termination of employment, a member of a pension plan who is entitled to a deferred pension under section 35, is entitled to withdraw the commuted value of the deferred pension from the pension fund if
(a) the member and his or her spouse or common-law partner, if any, are not Canadian citizens,
(b) the member and his or her spouse or common-law partner, if any, are not resident in Canada for the purposes of the Income Tax Act (Canada), and
(c) the member’s spouse or common-law partner, if any, waives, on a prescribed form, any rights that he or she may have in the pension fund under this Act, the regulations or the pension plan.
56.1(2)If a member makes a withdrawal under subsection (1), the member is no longer entitled to a deferred pension under section 35.
2002, c.12, s.27; 2008, c.5, s.13
Transfer of commuted value of deferred pension by non-resident
56.1(1)Upon termination of employment, a member of a pension plan who is entitled to a deferred pension under section 35, is entitled to withdraw the commuted value of the deferred pension from the pension fund if
(a) the member and his or her spouse or common-law partner, if any, are not Canadian citizens,
(b) the member and his or her spouse or common-law partner, if any, are not resident in Canada for the purposes of the Income Tax Act (Canada), and
(c) the member’s spouse or common-law partner, if any, waives, on a prescribed form, any rights that he or she may have in the pension fund under this Act, the regulations or the pension plan.
56.1(2)If a member makes a withdrawal under subsection (1), the member is no longer entitled to a deferred pension under section 35.
2002, c.12, s.27; 2008, c.5, s.13
Transfer of commuted value of deferred pension by non-resident
56.1(1)Upon termination of employment, a member of a pension plan who is entitled to a deferred pension under section 35, is entitled to withdraw the commuted value of the deferred pension from the pension fund if
(a) the member and his or her spouse, if any, are not Canadian citizens,
(b) the member and his or her spouse, if any, are not resident in Canada for the purposes of the Income Tax Act (Canada), and
(c) the member’s spouse, if any, waives, on a prescribed form, any rights that he or she may have in the pension fund under this Act, the regulations or the pension plan.
56.1(2)If a member makes a withdrawal under subsection (1), the member is no longer entitled to a deferred pension under section 35.
2002, c.12, s.27