Section 18Part 2 — Registration and Administration
Information from employer
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18. (1) An employer, who is not an administrator, shall provide to the administrator of the pension plan of which that employer’s employees are members any information required by the administrator for the purpose of complying with the terms of the pension plan, of this Act or the regulations.
In subsection (1) — “employer” includes a predecessor of the employer. 18A. Obligations of employer 18A. (1) An employer shall cause to be kept proper payroll accounts, books and records with respect to all sums of money paid by the employer to a pension plan.
For the purposes of subsection (1), proper payroll accounts, books and records shall not be deemed to be kept if there are not kept such payroll accounts, books and records as are necessary to give a true and fair view of the state of affairs of the employer with regards to a pension plan and to explain its transactions.
An employer shall cause all books of account required to be kept under subsection (1) to be retained for a minimum period of five years from the date on which they are prepared.
For each employee, except an employee for whom an employer is not required to provide a pension plan or to contribute to a pension plan under section 25, an employer shall keep and maintain records showing —
the name of and current contact information for the employee;
the date the employment commenced and the duration;
whether the employment is part time or full time;
the rate of pay and salaried arrangements;
gross and net amounts of pay;
bonuses;
resignations and terminations relating to the employee;
the name of the pension plan;
all deductions from earnings of the employee for pension contributions;
all contributions made by the employer and on behalf of the employee and evidence of payment to the pension plan;
the period over which contributions were made;
the dates on which the contributions were made; and
any interest payments made in the name of the pension plan.
The contributions shall be stated clearly and there shall be no comingling; that is, contributions shall be differentiated from other payments that employers are required to pay, such as health insurance. Section 19 National Pensions Act (2024 Revision) Page 28 Revised as at 31st December, 2023 c
An employer shall retain records required to be kept under subsection (4) for a minimum period of five years from the date on which they are prepared.
An employer shall maintain a written notification, acknowledged by the employee in writing, of the pension plan referred to in section 4(1).
An employer who —
knowingly and wilfully contravenes subsections (1) or (3); or
fails without reasonable cause to comply with subsections (4), (5), (6) or (7), commits an offence and is liable on summary conviction to a fine of ten thousand dollars.