66(1)Upon the wind-up of a pension plan in whole or in part, if insufficient funds are available to pay the pensions and benefits under the plan, the amount of the pension or benefit to which a person is entitled may be reduced in accordance with the regulations.

66(2)Nothing in subsection (1) prevents the Superintendent from ordering a reduction in pensions and benefits under a pension plan before the wind-up of the plan is completed if the Superintendent is of the opinion, upon reasonable and probable grounds, that there are or are likely to be insufficient funds available to pay the pensions and benefits under the plan.