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Pension Adjustment Reversal (PAR)

Calculation sheet

DB PAR - Calculation sheet

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This table is a calculation sheet for the defined benefit pension adjustment reversal.

A = total of all amounts for each year of pensionable service under the provision equal to the lesser of i) pension credit earned and ii) the RRSP dollar limit for the year following the particular year. Money purchase limit = 1990 $11,500, 1991&1992 $12,500, 1993 $13,500, 1994 14,500, 1995 $15,500 1996 to 2003 $13,500. No SMEP pension credits are included.

B = Grossed-up PSPA amount
Total of all previous PSPAs, recalculated as though the C and D factors in both the basic and modified calculation methods were NIL. Also recalculated if the modified method was used to disregard benefits from previous plan. Also no SMEP PSPAs are included.

C = Specified distributions
All amounts paid from the plan is respect of post 1989 service except: funds transferred to another RPP (other than a SMEP), funds transferred to another DB provision of the same plan, surplus, return of employees contributions pursuant to an amendment that reduces future contributions by employees (8502(d)(iv), payments from a SMEP and benefits in respect of a foreign service PSPA under 8303(10)

D = PA transfer amount
Only applicable if modified PSPA is calculated in the new plan (i.e., directly from old DB provision to new DB provision). Lesser of pension credits under new provision and pension credits under the old provision.

New plan administrator must provide the PA transfer amount to old plan administrator within 30 days.

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