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P-5.1
- Pension Benefits Act
Detailled Table of Contents
Document at 12 February 2013
Pension Benefits Act
1
In this Act
1
DEFINED BENEFIT PENSION PLANS AND DEFINED CONTRIBUTION PENSION PLANS
APPLICATION OF ACT
2
Binding of Crown
3
Application to persons employed in the Province
4
Pension plans providing more advantageous benefits
5
Act prevails over other Acts
6
Act prevails over pension plans
REGISTRATION OFPENSION PLANS
7
Prohibition against administration of a pension plan without registration
8
Prohibition against administration of a pension plan if registration refused or revoked
9
Administrator of pension plan in relation to eligibility of plan for registration
10
Registration of pension plan
11
Registration of amendment to pension plan
12
Effect of certain amendments to pension plan
12.1
Idem
13
Refusal of registration and revocation of registration
ADMINISTRATION OF PENSION PLANS
14
Duty to administer in accordance with Act, regulations and filed documents
15
Filing of annual information return and additional reports
16
Filing of certified copy of reciprocal transfer agreement
17
Duty of care, diligence and skill
18
Employment of agents
19
Expenses related to administration
20
Provision of information to administrator
ADVISORY COMMITTEE
21
Establishment and purposes of advisory committee
22
Provision of information by administrator
DISCLOSURE OF INFORMATION
23
Information to person who will be eligible or is required to become a member
24
Information re amendments
25
Written statement
26
Information re termination or cessation of membership
27
Information on request
28
Disclosure of information
MEMBERSHIP
29
Eligibility for membership in a pension plan
30
Restriction on eligibility
31
Separate pension plans for certain employees
BENEFITS GENERALLY
32
Ancillary benefits
33
Purchase of benefits from insurance company, variation in terms of payment of pensions
34
Payment of commuted value of a benefit
DEFERRED PENSION
35
Entitlement to a deferred pension on termination of employment
PHASED RETIREMENT
35.1
Phased retirement
TRANSFERS
36
Transfer of commuted value of a deferred pension or purchase of deferred life annuity
37
Limitation on transfer of money from a pension fund
38
Liability in relation to improper transfer of money from a pension fund
RETIREMENT
39
Entitlement to a pension on attainment of normal retirement date
40
Early retirement pension, continuation of employment after attainment of normal retirement date
40.1
Transfer of portion of commuted value upon pension entitlement
JOINT AND SURVIVOR PENSION
41
Pension to a member who has a spouse to be joint and survivor pension
42
Payment of joint and survivor pension to survivor after remarriage
PRE-RETIREMENT DEATH BENEFIT
43
Repealed
43.1
Death of former member before payment of pension benefit or deferred pension
BREAKDOWN OF A MARRIAGE OR COMMON-LAW PARTNERSHIP
44
Division of pension benefits or pension on breakdown of a marriage or common-law partnership
45
Payment of sum in lieu of amount owing
EQUALITY PROVISIONS
46
Sex of member not to be taken into account
47
Application of section 46
INTEGRATION
48
Limitation on reduction of pension or pension benefit
CONTRIBUTIONS
49
Contributions to pension fund
50
Pension fund is trust property
51
Contributions held in trust
52
Insolvency of employer
53
Proceedings to obtain payment of contributions
INTEREST
54
Interest on contributions
MAXIMUM EMPLOYEE COST
55
Percentage of pension benefit offset by employee
LOCKING-IN
56
Restriction on withdrawal of contributions
56.1
Transfer of commuted value of deferred pension by non-resident
57
Exemption from execution, seizure or attachment
INVESTMENT
58
Investment of pension fund
SURPLUS
59
Distribution of surplus under a pension plan
WIND-UP OF PENSION PLAN
60
Wind-up by administrator or employer
61
Wind-up required by Superintendent
62
Filing and approval of wind-up report
63
Administrator appointed by Superintendent for wind-up
64
Entitlement of members and former members on wind-up
65
Payments by employer on wind-up
66
Reduction of pension and benefits on wind-up
67
Distribution of remaining assets after wind-up
68
Pension fund after wind-up
SALES AND TRANSFERS
69
Effect on pension plan of sale, assignment or other disposition of employer’s business
NEW PLANS
70
Establishment of new pension plans
71
Establishment of new plans
ORDERS BY SUPERINTENDENTAND BOARD
72
Orders by Superintendent
73
Referral of matters to the Board
74
Procedure before Board
75
Parties to proceedings before Board
76
If a matter...
77
Summons to appear before Board to show cause
78
Entering order of Board as judgment of the Court
79
Request to Board on failure of Superintendent to act
80
Hearings before Board in camera or public
GENERAL
81
Extension of time limits
82
Superintendent’s power of inspection
83
Obstruction of Superintendent
84
Service of documents
85
Certificates of Superintendent
86
Effect of defects in form and technical irregularity
87
Rulings of Superintendent
OFFENCES AND PENALTIES
88
Offences and penalties
88.1
Offences and penalties
89
Prosecution of employer
90
Repealed
ADMINISTRATION
91
Minister responsible for Administration of Act
92
Agreements by Minister
93
Registration in designated jurisdiction
93.1
Continuance of prior agreement
93.2
Definition of “multi-jurisdictional pension plan”
93.3
Authority to enter into the agreement
93.4
Scope of the agreement
93.5
Reciprocal implementation of the agreement
93.6
Rules for asset splitting
93.7
Non-application of Regulations Act
93.8
Publication of the agreement
93.9
Requests for copies of the agreement
94
Repealed
95
Repealed
96
Authority of Board
97
Authority of Board
98
Authority of Board
99
Repealed
PENSIONERS OF ST. ANNE-NACKAWIC PULP COMPANY LTD.
99.1
Transfer of commuted value of a pension
99.2
Limitation on transfer of money from a pension fund
99.3
Liability in relation to improper transfer of money from a pension fund
99.4
Exemption from execution, seizure or attachment
WIND-UP OF FRASER PAPERS’ PENSION PLANS
99.5
Definition of “Regulation 91-195”
99.6
Application
99.7
Wind-up in whole or in part
99.8
Amendments to the pension plans
99.9
Exemption from deemed trust
99.91
Exemption from contribution requirements
99.92
Exemption from successor employer and new plans provisions
99.93
Interim wind-up reports
99.94
Wind-up report
99.95
Administration of pension plans during wind-up
99.96
Payments from fund during wind-up
99.97
Distribution of assets - non-application of provisions
99.98
Distribution of assets - rules
99.99
Distribution of assets - commuted value
99.991
Distribution of assets - allocation ratio
99.992
Immunity
REGULATIONS
100
Regulations
100.1
A regulation respecting...
2
SHARED RISK PENSION PLANS
100.2
Definitions
100.3
Application of Part 1
100.31
This Part binds the Crown
100.4
Characteristics of shared risk plans
100.5
Administrator
100.51
Ancillary benefits
100.52
Conversion of pension plan to shared risk plan
100.53
Change of benefits and contributions
100.6
Registration of shared risk plans
100.61
Actuarial valuation report
100.62
Wind-up of shared risk plan and termination of employment or membership
100.63
Prohibition against wind-up or conversion
100.64
Valuation and review
100.7
Documents to be filed with the Superintendent
100.8
Superintendent’s guidelines
100.81
Immunity
100.82
The City of Saint John pension plan
100.9
Regulations
REPEAL
101
Repeal of Pension Plan Registration Act
COMMENCEMENT
102
Commencement
SCHEDULE A