ontario regulation 467/11
made under the
pension benefits act
Made: December 14, 2011
Filed: December 16, 2011
Published on e-Laws: December 19, 2011
Printed in The Ontario Gazette: December 31, 2011
Amending O. Reg. 287/11
(Family Law Matters)
1. (1) Ontario Regulation 287/11 is amended by adding the following section under the heading “Interpretation”:
“Retired member” and “former member”
2.1 (1) Until the definition of “retired member” in subsection 1 (1) of the Act comes into force, a reference in this Regulation to a retired member of a pension plan is deemed to be a reference to a former member who has terminated employment or membership in the pension plan and in respect of whom one or more of the following criteria is satisfied:
1. He or she is receiving a pension payable from the pension fund.
2. He or she is entitled to begin to receive a pension from the pension fund by virtue of having reached the normal retirement date under the pension plan, even though he or she has not yet elected to receive the pension.
3. He or she has elected, under subsection 41 (1) of the Act, to receive an early retirement pension.
4. He or she has elected, under the terms of the pension plan, to begin payment of a pension payable from the pension fund, whether or not receipt of the first payment of the pension is deferred until a later date.
(2) Until the definition of “retired member” in subsection 1 (1) of the Act comes into force, a reference in this Regulation to a former member of a pension plan is deemed to be a reference to a former member who has terminated employment or membership in the pension plan and in respect of whom one or more of the following criteria is satisfied:
1. He or she is entitled to a deferred pension payable from the pension fund.
2. He or she is entitled to receive any other payment from the pension fund.
(3) However, if an individual is a former member as described in subsection (1), he or she is not a former member for the purposes of subsection (2).
(4) An individual who was a member of a pension plan and who has transferred an amount under subsection 42 (1) of the Act in connection with the pension plan is neither a former member as described in subsection (1) nor as described in subsection (2).
(2) Section 2.1 of the Regulation is revoked.
Commencement
2. (1) Subject to subsection (2), this Regulation comes into force on January 1, 2012.
(2) Subsection 1 (2) comes into force on the day section 2 of the Pension Benefits Amendment Act, 2010 (section 1.1 of the Pension Benefits Act) comes into force.