There are some requirements. I may have my federal and provincial requirements a little muddled in this one, but if a plan is winding up even partially, it must convert all the assets from the pension into an annuity. Given that the annuity market seems to be very constrained and not terribly efficient, I'm not sure that's the best solution to the problem. There may be a more creative way to get security for the people being turfed out of, say, a disinvestment, a de-acquisition kind of thing.
On April 22nd, 2010. See this statement in context.