Words and Phrases - "superannuation or pension fund or plan"

The Swiss employer of the taxpayer and the taxpayer had contributed regularly to the employer’s “second pillar” occupational pension plan. When the taxpayer migrated to Canada, the Swiss legislation required that the accumulated funds in the plan be transferred to a vested benefits account or policy, with the taxpayer opting for the latter (the "Policy"). Like the plan, the purpose of the Policy is to pay old-age benefits from a predetermined age. Upon the taxpayer’s return to Switzerland, the Swiss legislation required that the funds accumulated in the Policy be returned to the second pillar pension plan of the taxpayer’s Swiss employer. Since the taxpayer has not reached retirement age, no distributions from the plan or the Policy have been received. Was there an inclusion in the taxpayer’s income during the Policy years? CRA responded:

[A] plan will be considered a superannuation or pension fund or plan where amounts have been promised or contributed to the fund or plan by or on behalf of an employer or a former employer for services rendered by the employee to provide the employee with an annuity or other periodic payment at the time of retirement.

Amounts received by the beneficiary of a superannuation or pension fund or plan generally constitute superannuation or pension benefits and are only taxed in the year of payment, pursuant to paragraph 56(1)(a).

…[I]t appears … that the Policy could qualify as a superannuation or pension fund or plan.

In [such] event … the income derived from it during a period of Canadian residence of the beneficiary should not be included in the calculation of his or her income to the extent that that it was not received by the beneficiary.