Statement to Members on Plan Termination within 30 Days

Paragraph 28 (1)(d) of the Pension Benefits Standards Act, 1985 (PBSA) requires that, within 30 days of the plan termination or partial termination date, the administrator must provide each affected plan member and that member's spouse with a termination statement.

If the plan administrator is unable to provide these termination statements within 30 days, the plan administrator must notify OSFI of the reason for the delay and the expected date that the member statements will be provided.

Published in PBSA Update No. 28 December 2007.