R-15.1 - Supplemental Pension Plans Act

Full text
236. The right to benefits, other than a pension referred to in section 237, accrued under a pension plan to a member affected by the termination of the plan, shall be satisfied by means of a transfer under section 98, which applies with the necessary modifications. However, if a member whose pension was not in payment at the date of termination dies before the transfer is effected, the member’s rights, except any entitlement to surplus assets, shall instead be satisfied by the payment of a lump sum benefit to the member’s spouse or, if there is no spouse, to the member’s successors.
For the purposes of this section, a member’s spouse is the person who meets the requirements set out in section 85.
1989, c. 38, s. 236; 2000, c. 41, s. 145.
236. The benefits, other than pensions referred to in section 235 or 237, accumulated under the pension plan by a member affected by the total or partial termination of the plan shall, if the member has been an active member for not less than two years, be paid by way of a transfer pursuant to sections 98 and 100 to 105, which apply adapted as required. In that case, the member shall, within 30 days after the information prescribed in section 203 is sent to him, indicate to the pension committee the plan to which he elects to transfer his benefits; if he fails to do so, the transfer shall be made to the plan proposed by the committee in the said sending of information.
However, in the event of a partial termination, the benefits of affected members shall be transferred in whole or in part only if the members apply therefor within the time prescribed in the first paragraph and, subsequently, within the time limits prescribed in subparagraph 2 or 3 of the second paragraph of section 99.
1989, c. 38, s. 236.