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Canadian Press Pension Plan Solvency Deficiency Funding Regulations, 2010

Version of section 10 from 2010-11-01 to 2015-03-31:

  •  (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.

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