Pension Benefits Standards Act, 1985

Marginal note:Workout agreement

• 29.1 (1) Subject to the regulations made for the purposes of sections 29.03 to 29.09, this section and sections 29.2 and 29.3, the employer and the representatives may negotiate a workout agreement that, among other things, proposes a funding schedule in respect of the pension plan for the period specified in the agreement.

• Marginal note:Exception

  (2) The proposed funding schedule may not provide for payments that become due before the day on which the negotiation period begins or that relate to normal cost.

• Marginal note:Termination

  (3) A workout agreement may not be entered into in respect of a pension plan that has been terminated in whole.