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"Point in Time" Regulation Content

Family Law Act

Division of Pensions Regulation

B.C. Reg. 348/2012

NOTE: Links below go to reg content as it was prior to the changes made on the effective date. (PIT covers changes made from September 19, 2009 to present)
SECTIONEFFECTIVE DATE
Section 1 September 30, 2015
Section 4 September 30, 2015
Section 13 September 30, 2015
Section 16 September 30, 2015
Section 17 September 30, 2015
Section 19 September 30, 2015
Section 21 September 30, 2015
Section 23 September 30, 2015
Section 26 September 30, 2015
Section 27 September 30, 2015
Form P4 September 30, 2015

 Section 1(1), definitions of "defined contribution account", "former Act", "plan text document" and "proportionate share" BEFORE repealed by BC Reg 70/2015 effective September 30, 2015.

"defined contribution account", in relation to a plan, means,

(a) in the case of a member of the plan, the money referred to in paragraphs (a) to (c) of the definition of "defined contribution provision" in section 110 of the Act, or

(b) in the case of a limited member of the plan, the money administered for him or her under section 114 (2) (b) of the Act;

"former Act" means the Family Relations Act, R.S.B.C. 1996, c. 128;

"plan text document", in relation to a plan, means the document that sets out the rights, obligations and entitlements under the plan;

"proportionate share", when used in relation to a reference in the Act to a proportionate share, includes a reference in the Act to a portion;

 Section 1(1), definition of "superintendent" BEFORE amended by BC Reg 70/2015 effective September 30, 2015.

"superintendent" means the person appointed as the Superintendent of Pensions under section 2 of the Pension Benefits Standards Act, or, if the plan is registered outside of British Columbia, the person in the jurisdiction in which the plan is registered whose role in that jurisdiction is similar to the role of the Superintendent of Pensions in British Columbia.

 Section 4(1)(b) BEFORE amended by BC Reg 70/2015 effective September 30, 2015.

(b) notice referred to in section 112 (5), 113 (2), 114 (2) (b), 116 (2) as that section relates to a defined benefit provision, 117 (2), 119 (2), 121 (2) or 122 (2) of the Act must be given in Form P2 (Request for Designation as Limited Member),

 Section 13(1)(b) BEFORE amended by BC Reg 70/2015 effective September 30, 2015.

(b) the identity of any beneficiary nominated by the member other than the spouse.

 Section 16(b) BEFORE amended by BC Reg 70/2015 effective September 30, 2015.

(b) if the spouse has filed a Form P3 in which he or she elected to have a portion of the member's defined contribution account transferred from the plan to the credit of the spouse, the administrator must effect that transfer,

 Section 17(1)(b) BEFORE amended by BC Reg 70/2015 effective September 30, 2015.

(b) benefits under a defined benefit provision before pension commencement or the commuted value of those benefits;

 Section 19(part) BEFORE amended by BC Reg 70/2015 effective September 30, 2015.

Phased retirement period and recalculation of proportionate share

19  If the member accumulates additional pensionable service after the calculation of the limited member's proportionate share of a phased retirement benefit under section 115 (5) of the Act or the calculation of the spouse's proportionate share of benefits paid under section 117 (2) of the Act, the proportionate share must, whenever any of the following occurs, be recalculated to take into account the additional pensionable service accumulated by the member:

 Section 21(1) BEFORE amended by BC Reg 70/2015 effective September 30, 2015.

(1) This section applies if the member's benefits under a defined benefit provision are divided under Part 6 of the Act.

 Section 23(2)(a) and (3)(a) BEFORE amended by BC Reg 70/2015 effective September 30, 2015.

(2) This section applies if

(a) the limited member is entitled under Part 6 of the Act to a proportionate share of the benefits under a defined benefit provision, and

(3) The commuted value of the benefits referred to in subsection (2) (b) must

(a) when calculating the separate pension payable to the limited member for the purposes of section 115 (2) (a), 119 (3) (d) or 121 (3) of the Act, be calculated as at a date not earlier than the end of the month immediately preceding the commencement date of the separate pension,

 Section 26 BEFORE amended by BC Reg 70/2015 effective September 30, 2015.

Transfer from plan to locked in retirement plan

26  If the Act requires or authorizes an administrator of a plan to transfer from the plan an amount to the credit of the spouse, the transfer must be made in accordance with the provisions of the Pension Benefits Standards Act that would have applied had the transfer been made to the credit of the member.

 Section 27(3)(b) BEFORE amended by BC Reg 70/2015 effective September 30, 2015.

(b) the possibility that the member's pension may commence at a date that is earlier or later than the date at which he or she reaches the age at which a member is normally eligible to begin receiving a pension under the plan text document without reduction or increase to the pension;

 Form P4 BEFORE amended by BC Reg 70/2015 effective September 30, 2015.

Form P4