R-15.1 - Supplemental Pension Plans Act

Section 307.1 Disposition versions

2001-01-01

307.1. Every person or body administering a pension plan shall, within five years from 1 January 2001 or before the expiry of such extension as may be granted by the Régie, regularize any investment of the assets of the plan made before 1 January 2001 that was in conformity with this Act as it read before that date but is not in conformity with this Act as it reads from that date.

Where a pension plan in force on 31 December 2000 authorizes members to distribute all or part of the amounts credited to them among various investments, the investment options offered must, if need be, be brought into conformity with the provisions of section 168 as it reads from 1 January 2001 within one year from that date.

The right to a transfer provided for and the applicable conditions set out respectively in subparagraph b of subparagraph 3 of the first paragraph and the second paragraph of section 173 as it read before 1 January 2001 shall continue to apply until 31 December 2001 to deposits to which those provisions are applicable.

1994, c. 24, s. 29; 2000, c. 41, s. 191.

1994-06-17

307.1. Subparagraph 3 of the first paragraph of section 173 and the second paragraph of that section apply to deposits made or to be made under a management contract as it read on 17 June 1994, only from the expiry of the term of the investment stipulated in the contract.

However, the right to a transfer which those provisions grant to a member applies to such deposits, but only if the sums deposited are attributed to that member; the charge that may be claimed by an insurer for such a transfer shall in no case exceed the charge for the transfer of the benefits of a member who ceases to be an active member.

1994, c. 24, s. 29.