Canadian Press Pension Plan Solvency Deficiency Funding Regulations, 2010
Version of section 10 from 2010-10-28 to 2010-10-31:
The following provision is not in force.
10 (1) If the aggregate value of the subsidized portion of early retirement benefits consented to since January 1, 2009 reduces the solvency ratio of a Canadian Press pension plan as at December 31, 2008 by more than 10%, the employer shall immediately pay to the pension fund an amount that would restore the solvency ratio to the value as at December 31, 2008 minus 10% and shall immediately notify the Superintendent in writing of the payment.
(2) For the purpose of subsection (1), the solvency ratio has been reduced by more than 10% if
(A – B)/A > 0.10
where
- A
- is the solvency ratio determined as at December 31, 2008; and
- B
- is the solvency ratio determined as at December 31, 2008 taking into consideration the aggregate value of the subsidized portion of early retirement benefits consented to since January 1, 2009.
- Date modified: