46 Section 85 is repealed and the
following is substituted:
Prohibition against assignment, etc.
85(1) Subject to subsection (2), money that is held in a pension
plan, money that has been transferred under section 30(5), 37(2)(b) or (d), 38,
39(6) or 64(3) or the regulations made in respect of any such provision or of
section 80 or pursuant to a similar transfer made before January 1, 1987 and
money earned by such transferred money may not be assigned, charged, alienated
or anticipated, and any transaction purporting to assign, charge, alienate or
anticipate any such money is void.
(2) Subsection
(1) does not apply to additional voluntary contributions or optional ancillary
contributions.
(3) The
giving of any amount by a pension partner in compliance with the waiving of any
entitlement to a benefit under a waiver specifically provided for by this Act
or with a matrimonial property order or agreement does not constitute an
assignment, charge, alienation or anticipation for the purposes of subsection
(1).
(4) Any
transaction purporting to effect a withdrawal, surrender or commutation
referred to in section 35(1) or (2) is void.
Exemption from attachment, etc.
85.1(1) Subject to this section, money that is held in a pension
plan, money that has been transferred under section 30(5), 37(2)(b) or (d), 38,
39(6) or 64(3) or the regulations made in respect of section 80 or pursuant to
a similar transfer made before January 1, 1987 and money earned by such
transferred money are exempt from execution, seizure or attachment either at
law or in equity.
(2) Subsection
(1) does not apply
(a) to additional voluntary contributions or optional ancillary
contributions, or
(b) in respect of a retirement savings vehicle within the meaning of
and under section 17.1 of the Maintenance Enforcement Act.
(3) The
giving of any amount by a pension partner in compliance with a matrimonial
property order or agreement does not constitute an execution, seizure or
attachment for the purposes of subsection (1).
57(1) Subject to this section, this Act
comes into force on Proclamation.
(2) Section
39, other than section 39(a), is deemed to have come into force on March 1,
2000.
(3) Section
46, to the extent that it adds a new section 85.1(2)(b) to the Employment
Pension Plans Act, comes into force on the commencement of section 28(1) of
the Maintenance Enforcement Amendment Act, 2004 or of section 46, to the
extent that it adds a new section 85.1(1) to the Employment Pension Plans
Act, whichever is the later.
(4) Section
52 is deemed to have come into force on January 1, 2000.
(5) Section
1 and section 54, except section 54(1)(a), come into force on the date of
assent to this Act.
