Acts and Regulations

P-5.1 - Pension Benefits Act

Section 64
Disposition versions

Full text
Entitlement of members and former members on wind-up
64(1)On the wind-up of a pension plan in whole or in part, the administrator shall give to each person entitled to a pension, deferred pension or other benefit or to a refund in respect of the pension plan a statement setting out the person’s entitlement under the pension plan, the options available to the person and any other prescribed information.
64(2)For the purposes of determining the amount of pension benefits to which a person may be entitled on the wind-up of a pension plan, in whole or in part,
(a) the employment of each member of the pension plan affected by the wind-up shall be deemed to have been terminated on the effective date of the wind-up of the pension plan, and
(b) each member’s pension benefits as of the effective date of the wind-up shall be determined as if the member had satisfied all eligibility conditions for a deferred pension under section 35, and the member shall be deemed to be entitled to a deferred pension under section 35.
64(3)Section 36, other than subsection 36(3) applies to members and former members of a pension plan upon wind-up other than persons who are receiving a pension.