21 December 2016 Internal T.I. 2013-0508321I7 - Pension Corporations - 149(1)(o.2)(iii) -- summary under Clause 149(1)(o.2)(ii)(B)

For PBSA purposes, the prohibition against a pension plan investing more than 10% of its assets in any one investment is applied at the level of the pension plan, rather than of a subsidiary pension corporation. CRA determined that the policy intent of the permitted investment rule in ss. 149(1)(o.2)(iii), 149(1)(o.2)(ii)(B) and 149(1)(o.2)(ii.1)(B)(IV)) “is to defer to the investment requirements of the PBSA,” so that the same approach is to be followed under such s. 149(1)(o.2) provisions. Accordingly, the pension corporation is not precluded from investing more than 10% of its assets in a single investment.