Pension Benefits Standards Act, 1985

Marginal note:Funding of pension plan

• 9 (1) A pension plan shall be funded in accordance with the prescribed tests and standards for solvency.

• Marginal note:Payments by employer

  (1.1) In respect of a pension plan that is not a multi-employer pension plan, the employer shall pay into the pension fund all amounts required to meet the prescribed tests and standards for solvency.

• Marginal note:Multi-employer pension plan

  (1.2) In respect of a multi-employer pension plan, each participating employer shall pay into the pension fund all contributions that they are required to pay under an agreement between participating employers or a collective agreement, statute or regulation.

• Marginal note:Actuarial reports

  (2) In the case of an actuarial report required under subsection 12(2), if the Superintendent is of the opinion that the report has not been prepared

  • (a) on the basis of actuarial assumptions or methods that are adequate and appropriate, and

  • (b) in accordance with the standards of practice adopted by the Canadian Institute of Actuaries, except as otherwise specified by the Superintendent,

  the Superintendent shall notify the administrator in writing of this opinion and shall direct the administrator to cause the appropriate changes to be made to the report, and the administrator shall forthwith comply with such a direction.

• Marginal note:Amended report

  (3) A pension plan shall be funded in accordance with the report referred to in subsection (2) as amended pursuant to any direction of the Superintendent under that subsection.

• (4) to (6) [Repealed, 1998, c. 12, s. 8]