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Responsibilities | Pension Plans
Information for Pension Plan Members
Prescribed Forms
Following are the forms prescribed by sections 19 (2), 23.1, 29 (7) (h), (i), (9) and (9.1), 30 (7), (7.1), (8) (j), (k), (10) and (10.1), 31 and 34 (2) of the Pension Benefits Standards Regulation (the "Regulation"). These forms are also contained in Schedule II at the back of the Regulation.
These forms are provided in Portable Document Format ("PDF"). PDF maintains the look and quality of the original document, regardless of your computer system or printer. The files can be downloaded and saved, or simply printed without saving.
To view PDF files, Adobe's Acrobat Reader software is required. Acrobat Reader is available free of charge from Adobe's web site, along with all the information needed to download and configure Acrobat Reader to work with your system.
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Form 1, "Certification", is required under sections 14 (1) (c) and 15 (1) of the Pension Benefits Standards Act (the "PBSA") to accompany the filing of an application for registration of a pension plan, or the filing of an amendment to the plan text or any plan related document.
Form 1 is to be completed by the plan "administrator" as defined in the PBSA. The plan administrator is normally the employer, or a board of trustees if applicable.
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Form 2, "Spouse's Waiver of Entitlements Under a Pension Plan, an RRSP, a Life Annuity or a LIF Contract", is optional for a spouse. This form enables a spouse to waive the entitlement to a joint life pension. The PBSA provides that the pension payable to a person with a spouse must be a joint pension payable during the joint lives of the former member and the spouse, with at least 60% continuance to be payable to the survivor for life after the death of either. A spouse can waive the entitlement to the joint life pension if the spouse completes Form 2 in the prescribed manner, and not more than 90 days before pension commencement. A spouse may elect to waive the entitlement to the joint life pension so that that the member or former member can select an optional form of pension. A spouse should only waive the entitlement to the joint life pension after careful consideration of the financial implications.
In the case of a life income fund (a "LIF"), Form 2 comes into play if and when the balance of the LIF is used to purchase an annuity. Under the terms of a LIF, the owner has the option to use the balance of the LIF to purchase a life annuity contract.
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Form 3, "Spouse’s Consent to Transfer Locked-In Pension Funds to a LIF or To Receive LIF Type Payments Directly From a Pension Plan", is required in order for a person who has a spouse to transfer pension money into a life income fund (a "LIF"). By completing Form 3 a spouse is consenting to the transfer of the pension money into a LIF, or for the owner to receive LIF type payments directly from a pension plan.
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Form 4, "Spouse's Waiver of Preretirement Survivor Benefit", is optional for a spouse. This form enables a spouse to waive the entitlement to the preretirement survivor benefit. The PBSA provides that if a pension plan member or former member dies before retiring, and has a spouse at the time of death, the preretirement survivor benefit must be paid to the spouse. By completing Form 4 a spouse exercises the option of waiving entitlement to the preretirement survivor benefit. A spouse may elect to do this so that the benefit can be redirected to a designated beneficiary or the owner's estate.
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Form 5, "Declaration of Commutable Amount", is used if a person age 65 or older whose total pension entitlements in all defined contribution pension plans, locked-in RRSPs, and LIFs is less than 40% of the Year's Maximum Pensionable Earnings as set for the Canada Pension Plan, and the person wishes to commute some or all of the benefit entitlements in those plans or funds. For 2005, 40% of the Year's Maximum Pensionable Earnings amounts to $16 440.
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Form 6, "Certificate of Non-Residency", is used if a member or former member of a pension plan, or the owner of a locked-in RRSP or LIF, has ceased to be a resident of Canada and wishes to transfer benefit entitlements out of Canada. In order to qualify for the transfer, the person must provide written evidence that the Canada Revenue Agency ("C.C.R.A.") has determined the person to be a non-resident of Canada for the purposes of the Income Tax Act (Canada). Information on what C.C.R.A. uses as criteria for a determination that a person is a non-resident is contained in NR73 - Determination of Residency Status (Leaving Canada), and C.C.R.A.'s other information on residency status.
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A Pension Plan Annual Information Return,(an "AIR") is required to be completed by the plan administrator, and filed with the Superintendent of Pensions within 180 days after the end of each fiscal year of the plan (or within 60 days after the commencement of a winding up of the plan if the plan is required to be wound up). The completed AIR must be accompanied by a copy of the plan's financial statements, or a completed Financial Information Return (see description below) where applicable and the appropriate filing fee. Instructions for Completing the Annual Information Return, are provided in a separate document
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A Financial Information Return,(an "FIR")
is a new form that may accompany a filed AIR. Not all pension plans are required
to complete and file the FIR. Please refer to the instruction guide for more information
in this regard. Instructions for Completing the Financial Information Return,
are provided in a separate document.
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An Application For Registration is to be completed by a pension plan administrator that is required to apply for registration of a pension plan under section 14 of the PBSA. The completed application must be filed with the Superintendent of Pensions no later than 60 days after the establishment of a pension plan, accompanied with a copy of the relevant plan documents (outlined in section 14), and the appropriate filing fee.
Paper copies of the Pension Benefits Standards Act, R.S.B.C. 1996, c. 352, and Pension Benefits Standards Regulation, B.C. Reg. 433/93 including the prescribed forms, may be obtained from:
Crown Publications Inc.
521 Fort Street
Victoria, British Columbia V8W 1E7
telephone: 250 386-4636, fax: 250 386-0221
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