Pensions News

What's New to this Site

• Policy Bulletin #2 is updated to indicate that Trust documents submitted for filing with the Superintendent must be drafted in accordance with the laws of Alberta - December 4, 2006.
• Policy Bulletin #11 is amended to clarify that where one LIF is transferred to another LIF, the payment schedule established under that first LIF is to continue after the transfer - December 4, 2006.
• Policy Bulletin #13 has removed the minimum 2% contribution requirement. The bulletin is amended to reflect the CRA minimum contribution requirement - December 4, 2006.
• Policy Bulletin #27 is amended to clarify the various exemptions to the requirement to file annual valuation reports as a result of amendment to the EPPA - December 4, 2006.
• A new Policy Bulletin #38 has been created to discuss actuarial valuation reports and cost certificates; and in particular, to clarify the requirements for filing an interim cost certificate - December 4, 2006.
• The AIR and Cost Certificate forms have been revised slightly based on comment and feedback we have received from various pension stakeholders - December 4, 2006.
• A new resource is available for pension plan administrators, service providers, and plan members who wish to obtain electronic updates of significant changes to the Employment Pensions website. Sign up for our electronic notification today! - November 24, 2006.
• The Pension Statistics Report for the period covering April 1, 2005 to June 30, 2006 is now available. The Statistics report reflects a June 30 period end-date to provide more up-to-date information on pension plans registered with the Superintendent's office. The reason for the change is that the majority of pension plans have a December 31 plan year end and are required to file their Valuation Reports / Cost Certificates and Annual Information Returns by June 30th.  Note: for online viewers, the items listed in the table of contents are hyperlinked to allow the user to jump to that section within the body of the report.

Employment Pension Plans Act (EPPA), Regulations and Updates

• EPPA Act
• Employment Pension Plans Amendment Act, 2005 (see also:  Proclamation Order in Council 365/2006)
• EPPA Regulation 197/2006 - Employment Pension Plans (General 2006) Amendment Regulation
• EPPA Regulation 35/2000

Forms

Policy Bulletins

Superintendent's List of Registered Pension Plans

The Superintendent’s List of Registered Pension Plans is added in response to the requests we receive from service providers for such a listing. Excluded from this list are any Plans for Connected Individuals (PCI) as well as any pension plans that make reference to an individual’s name.

Superintendent's List of Financial Institutions offering locked-in pension products

All banks, credit unions, trust companies and insurance companies offering LIRAs, LIFs and LRIFs to customers must be on the Superintendent’s List of Financial Institutions offering locked-in pension products, in order to accept transfers of locked-in funds.

Effective August 10, 2006

LRIFS can no longer be established. All existing LRIFS must be converted to the “new LIF” by December 31, 2007. Existing LRIFs may be administered as such until they are converted. Click here to refer to Policy Bulletin 12 regarding LRIFs.

The process for being acknowledged on the list has changed. By December 31, 2007, all Financial Institutions, on the list prior to August 10, 2006, must file a prescribed certification form (Form 42) and must attach to all LIRA and LIF contracts the relevant prescribed LIRA or LIF addendum. Any Financial Institution that has not filed the certification by that date will be removed from the list. Any Financial Institution not previously acknowledged must file the certification and must attach to all LIRA and LIF contracts the relevant prescribed LIRA or LIF addendum.

Financial Institutions on the list prior to August 10, 2006 may continue to establish LIFs and LIRAs under the existing rules until they are acknowledged on the new list. For details on the LIRA click here to refer to Policy Bulletin 10; for details on the LIF click here to refer to Policy Bulletin 11.

Interest Rate Tables and Prescribed Amounts

Below are up-to-date tables of CANSIM rates related to:

• interest rates for defined benefit plans;
• commuted value interest rates;
• current LIF factors; and
• limits relating to YMPE for commutation of small pensions; eligibility of part-time employees; and forced transfers.

Information for Albertans

Statistical Reports

Canadian Association of Pension Supervisory Authorities (CAPSA) Documents