13 September 1989 Income Tax Severed Letter AC74221 - Investment Requirements for RPP

September 13, 1989

Mrs. Pat Robusky                   Financial Industries Division
Registered Pension &               M. Shea-DesRosiers
  Deferred Income Plans            957-8953
Cumberland Street

Attention:  M. Bennett
                                   7-4221

Your file HAU 8224-9073

This is in reply to your memorandum of August 4, 1989 and our
telephone conversation (Robusky/Shea-DesRosiers) of September 6,
1989 concerning the review of the section entitled "Other
Investments" in                     as per the request made to
you by the             19(1)                           .

It is the Department's policy to advise taxpayers that, as stipulated in Information Circular 72-13R8 at paragraph 13, unless a trusteed plan is registered under a provincial statute that controls plan investments, or the federal Pension Benefits Standards Act, 1985, the plan must contain a requirement that all investments and re-investments will conform to the investment requirements of section 9 of the Pension Benefits Standards Act, 1985 and section 6 and Schedule III of the Pension Benefits Standards Regulations, 1985.

It should be noted that this Department does not administer the Pension Benefits Standards Act, 1985.

We trust that the above information will be of assistance to you.

Chief Deferred Income Plans & Trusts Section Financial Industries Division Rulings Directorate