Retention of records

An administrator, or any other person responsible for the administration of a pension plan, who has possession or custody of any record respecting the plan must retain the record as follows– (a) in the case of a record relating to a person entitled to benefits under the pension plan, for at least seven years after the date on which all rights or entitlements of the person under the plan were paid, settled or extinguished; (b) in the case of a document that creates or supports the pension plan, or any previously created document, for at least seven years after the later of– (i) the date on which the last assets of the pension fund were distributed; and (ii) the date on which the wind up of the pension plan is approved by the regulatory authority responsible for (c) in the case of a record not described in paragraph (a) or (b), for at least seven years after the date of the last transaction to which the record relates.