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Quiz: RPP — Defined Benefit provision

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1 How is the lifetime retirement benefit that may accrue under a defined benefit provision for a year of service capped? By both — 2% of compensation for the year, and the defined benefit limit for the year At the defined benefit limit for the year only At 2% of the member's compensation for the year only By neither; the cap operates only through the pension adjustment

Answer key unconfirmed — rests on 2 unverified claims.

2 Match the filing to its trigger. Which of these are correct? Select all that apply.

Select all that apply.

Form T244 is the annual information return Form T510 registers a pension plan An Actuarial Information Summary is filed with the valuation report Form T1004 is the annual information return Plan amendments must be filed within 60 days of being made An actuarial valuation report must be filed at least every three years

Answer key unconfirmed — rests on 5 unverified claims.

3 What must a registered pension plan have as its primary purpose? The funding of any retirement arrangement the employer chooses to establish The provision of lifetime retirement benefits to employees in respect of their service Tax-deferred accumulation of savings for employees The provision of benefits to employees on termination of employment