Assessment of Pension Plans Regulations (SOR/2011-317)

Regulations are current to 2013-04-29 and last amended on 2011-12-31. Previous Versions

DETERMINATION OF PLAN ASSESSMENT BASE

3. The plan assessment base is determined in accordance with the following formula:

A + B + 50

where

A 
is the lesser of

  • (a) the number of beneficiaries in excess of 50, and

  • (b) 950; and

B 
is the lesser of

  • (a) 75% of the number of beneficiaries in excess of 1,000, and

  • (b) 19,000.

DETERMINATION OF THE BASIC RATE

4. The basic rate for a fiscal year is the rate determined in accordance with the following formula:

(A + B)/C

where

A 
is the estimated total of expenses to be incurred by the Office during the fiscal year for or in connection with the administration of the Pension Benefits Standards Act, 1985;
B 
is 20% of the difference between

  • (a) the aggregate amount of expenses incurred by the Office for or in connection with the administration of the Pension Benefits Standards Act, 1985 and those expenses that were incurred by the Superintendent for the registration of plans and their supervision under that Act, including inspection, in the second to sixth preceding fiscal years; and

  • (b) the aggregate amount of assessments received by the Office as well as the fees collected under the Pension Benefits Standards Act, 1985 in the second to sixth preceding fiscal years; and

C 
is the estimated total amount of the plan assessment bases of all plans.

PUBLICATION OF BASIC RATE

5. The Superintendent shall publish in the Canada Gazette, Part I, a notice setting out the basic rate that is in effect

  • (a) for the fiscal year beginning on April 1, 2012, no later than 60 days before the beginning of that fiscal year, and

  • (b) for each fiscal year beginning on or after April 1, 2013, no later than 180 days before the beginning of that fiscal year.

CONSEQUENTIAL AMENDMENT TO THE PENSION BENEFITS STANDARDS REGULATIONS, 1985

6. [Amendment]

COMING INTO FORCE

Footnote *7. These Regulations come into force on the day on which section 175 of the Sustaining Canada’s Economic Recovery Act, chapter 25 of the Statutes of Canada, 2010, comes into force.