Prescribed Forms

The Pension Benefits Standards Act, 1985 requires that certain written statements, agreements and notices be in the prescribed form, as set out in the schedules of the Pension Benefits Standards Regulations, 1985 (PBSR).  OSFI does not provide these forms; plan administrators are expected to ensure that the forms that they provide are as prescribed in the PBSR.

Information that clearly does not apply in a particular case may be removed from the prescribed forms as long as the removal of the information does not affect substance or was not removed to deliberately mislead. For example, if the pension plan is a defined contribution plan and does not provide any defined benefit provisions, references to requirements related to defined benefit provisions need not be included in the statement provided to members on cessation of membership (Form 2 of Schedule IV of the PBSR). If, however, that defined contribution plan also has defined benefit provisions, the statement should contain all of the required information prescribed in the PBSR.  If a specific provision does not apply to a particular member, the plan administrator could include “zero” or “not applicable” beside that piece of information. 

In the same manner, additional information may be included on the statement.