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Q 30. Do the new transfer provisions of the Regulation apply to the pre-retirement death benefit provisions of section 48 of the Pension Benefits Act (PBA)?
A 30. No. The new provisions do not apply to the transfer of pre-retirement death benefits provided under section 48 of the PBA. - 09/09

Q5. I am turning 72 this year and must, under the ITA, begin to receive benefit payments from my individual pension plan (IPP). The ITA rules require the IPP to pay me the greater of: 1. the regular pension amount payable under the terms of the IPP; or, 2. the minimum amount that would be required to be paid from the IPP as if the IPP assets were held in a Registered Retirement Income Fund (RRIF). Is the latter option possible under the PBA?
A5. No. The benefit payments from the IPP cannot be paid out as if the IPP assets were held in a RRIF. The IPP is a registered defined benefit pension plan under the PBA, and the IPP must comply with the provisions of the PBA. The PBA does not allow for RRIF type payments from a pension plan. However, where the RRIF provisions prevail, there may be circumstances when surplus assets, if any, under the IPP may be used to bring the pension being paid to the retired member up to the required RRIF level. For example, this could be done where the plan terms permit payment of surplus from the ongoing plan to the retired member(s) of the plan. -06/12

Family Law - Questions and Answers - December 14, 2012
Surplus Withdrawal on Wind Up - Questions and Answers - July 9, 2012
FAQs relating to Form 5.3 - May 1, 2012
Form 5.3 - Application to a Financial Institution for a one-time Withdrawal or Transfer of up to 50% of the Money in a Schedule 1 LIF or LRIF. This form is discontinued as of May 1, 2012 but it is available upon request. Please send your request to FSCO Contact Centre at contactcentre@fsco.gov.on.ca.
Actuarial Information Summary 2010 - This form is mandatory for pension plans registered with FSCO that contain defined benefits and must be filed in conjunction with any funding valuation reports with filing deadlines of June 30, 2010 and beyond. This form is discontinued as of March 31, 2012 but it is available upon request. Please send your request to FSCO Contact Centre at contactcentre@fsco.gov.on.ca.

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