R-15.1 - Supplemental Pension Plans Act

Full text
210. No earlier than 30 and no later than 60 days after the date on which the termination report is received by Retraite Québec, unless additional time is granted by Retraite Québec, the pension committee shall pay in full the benefits of each member and beneficiary affected, including the surplus assets to which they are entitled, in accordance with the termination report and this Act.
However, the committee may not proceed under the first paragraph if, within 30 days after receipt of the termination report, Retraite Québec orders the pension committee to postpone the payment of all or part of the benefits for the period determined by Retraite Québec or if Retraite Québec orders pursuant to section 240.4 that an irregularity found in the report be remedied within a specified time. In the latter case, the pension committee shall submit a revised termination report to Retraite Québec, which shall acknowledge receipt thereof. The committee shall proceed to make full payment within 30 days after the expiry of the postponement period or the expiry of a 30-day period after the date on which Retraite Québec receives the revised report.
Moreover, where Retraite Québec permits the employer to spread the payment of an amount due by the employer over a period of time pursuant to section 229, Retraite Québec may determine terms and conditions whereby benefits may be paid in full when payment by the employer is completed.
The pension committee may, however, at any time if the plan is solvent and with the authorization of Retraite Québec if the plan is not solvent, pay, in whole or in part and subject to the conditions it fixes, a pension, other than a pension provided for in section 67.2, that is in payment or suspended at the date of termination of the pension plan or a pension the first instalment of which becomes payable after that date. Where the amount of pension benefits paid exceeds the benefits allocated to the recipient in the termination report for the period covered by the pension benefits, the recipient shall repay the overpayment; otherwise, the overpayment may be deducted from the benefits that remain to be paid to him.
The surplus assets to which the employer is entitled may not be allocated before all the benefits of the members and beneficiaries affected by the termination have been paid in full.
1989, c. 38, s. 210; 1992, c. 60, s. 27; 2000, c. 41, s. 118; 2008, c. 21, s. 19; 2015, c. 20, s. 61; 2018, c. 2, s. 122.
210. No earlier than 30 and no later than 60 days after the date on which the termination report is received by Retraite Québec, unless additional time is granted by Retraite Québec, the pension committee shall pay in full the benefits of each member and beneficiary affected in accordance with the termination report and this Act.
However, the committee may not proceed under the first paragraph if, within 30 days after receipt of the termination report, Retraite Québec orders the pension committee to postpone the operation for the period determined by Retraite Québec or if Retraite Québec orders pursuant to section 240.4 that an irregularity found in the report be remedied within a specified time. In the latter case, the pension committee shall submit a revised termination report to Retraite Québec, which shall acknowledge receipt thereof. The committee shall proceed to make full payment within 30 days after the expiry of the postponement period or within 30 days after the date on which Retraite Québec receives the revised report.
Notwithstanding the first paragraph, the payment in full of the benefits of a member or beneficiary in accordance with the termination report may be deferred to the date of the satisfaction of the entitlement to surplus assets where the member so requests or where, given the method chosen by the member or beneficiary, the Taxation Act (chapter I-3) prescribes that all benefits under the plan be paid in a lump sum. Moreover, where Retraite Québec permits the employer to spread the payment of an amount due by the employer over a period of time pursuant to section 229, Retraite Québec may determine terms and conditions whereby benefits may be paid in full when payment by the employer is completed.
The pension committee may, however, at any time if the plan is solvent and with the authorization of Retraite Québec if the plan is not solvent, pay, in whole or in part and subject to the conditions it fixes, a pension, other than a pension provided for in section 67.2, that is in payment or suspended at the date of termination of the pension plan or a pension the first instalment of which becomes payable after that date. Where the amount of pension benefits paid exceeds the benefits allocated to the recipient in the termination report for the period covered by the pension benefits, the recipient shall repay the overpayment; otherwise, the overpayment may be deducted from the benefits that remain to be paid to him.
1989, c. 38, s. 210; 1992, c. 60, s. 27; 2000, c. 41, s. 118; 2008, c. 21, s. 19; 2015, c. 20, s. 61.
210. No earlier than 30 and no later than 60 days after the date on which the termination report is received by the Régie, unless additional time is granted by the Régie, the pension committee shall pay in full the benefits of each member and beneficiary affected in accordance with the termination report and this Act.
However, the committee may not proceed under the first paragraph if, within 30 days after receipt of the termination report, the Régie orders the pension committee to postpone the operation for the period determined by the Régie or if the Régie orders pursuant to section 240.4 that an irregularity found in the report be remedied within a specified time. In the latter case, the pension committee shall submit a revised termination report to the Régie, which shall acknowledge receipt thereof. The committee shall proceed to make full payment within 30 days after the expiry of the postponement period or within 30 days after the date on which the Régie receives the revised report.
Notwithstanding the first paragraph, the payment in full of the benefits of a member or beneficiary in accordance with the termination report may be deferred to the date of the satisfaction of the entitlement to surplus assets where the member so requests or where, given the method chosen by the member or beneficiary, the Taxation Act (chapter I-3) prescribes that all benefits under the plan be paid in a lump sum. Moreover, where the Régie permits the employer to spread the payment of an amount due by the employer over a period of time pursuant to section 229, the Régie may determine terms and conditions whereby benefits may be paid in full when payment by the employer is completed.
The pension committee may, however, at any time if the plan is solvent and with the authorization of the Régie if the plan is not solvent, pay, in whole or in part and subject to the conditions it fixes, a pension, other than a pension provided for in section 67.2, that is in payment or suspended at the date of termination of the pension plan or a pension the first instalment of which becomes payable after that date. Where the amount of pension benefits paid exceeds the benefits allocated to the recipient in the termination report for the period covered by the pension benefits, the recipient shall repay the overpayment; otherwise, the overpayment may be deducted from the benefits that remain to be paid to him.
1989, c. 38, s. 210; 1992, c. 60, s. 27; 2000, c. 41, s. 118; 2008, c. 21, s. 19.
210. No earlier than 30 and no later than 60 days after the date on which the termination report is received by the Régie, unless additional time is granted by the Régie, the pension committee shall pay in full the benefits of each member and beneficiary affected in accordance with the termination report and this Act.
However, the committee may not proceed under the first paragraph if, within 30 days after receipt of the termination report, the Régie orders the pension committee to postpone the operation for the period determined by the Régie or if the Régie orders pursuant to section 240.4 that an irregularity found in the report be remedied within a specified time. In the latter case, the pension committee shall submit a revised termination report to the Régie, which shall acknowledge receipt thereof. The committee shall proceed to make full payment within 30 days after the expiry of the postponement period or within 30 days after the date on which the Régie receives the revised report.
Notwithstanding the first paragraph, the payment in full of the benefits of a member or beneficiary in accordance with the termination report may be deferred to the date of the satisfaction of the entitlement to surplus assets where the member so requests or where, given the method chosen by the member or beneficiary, the Taxation Act (chapter I-3) prescribes that all benefits under the plan be paid in a lump sum. Moreover, where the Régie permits the employer to spread the payment of an amount due by the employer over a period of time pursuant to section 229, the Régie may determine terms and conditions whereby benefits may be paid in full when payment by the employer is completed.
The pension committee may, however, at any time if the plan is solvent and with the authorization of the Régie if the plan is not solvent, pay an early retirement benefit provided for in section 69.1, in whole or in part and subject to the conditions it fixes, as well as a pension in payment at the date of termination of the pension plan or a pension the first instalment of which becomes payable after that date. Where the amount of pension benefits paid exceeds the benefits allocated to the recipient in the termination report for the period covered by the pension benefits, the recipient shall repay the overpayment; otherwise, the overpayment may be deducted from the benefits that remain to be paid to him.
1989, c. 38, s. 210; 1992, c. 60, s. 27; 2000, c. 41, s. 118.
210. At the expiry of a period of 60 days following the decision of the Régie approving the termination report or supplement thereto, or prior to the expiration of such period if all interested persons agree thereto, the pension committee or the insurer, as the case may be, shall pay the benefits of the employer and of the members or beneficiaries affected by the total or partial termination of a pension plan, in accordance with the report or supplement thereto and the provisions of this Act.
The pension committee or the insurer may, however, at any time if the plan is solvent and with the authorization of the Régie if the plan is not solvent, pay a pension in payment at the date of termination of the pension plan or a pension the first instalment of which becomes payable after that date. Where the amount of pension benefits paid exceeds the benefits allocated to the recipient in the termination report for the period covered by the pension benefits, the recipient shall repay the overpayment; otherwise, the overpayment may be deducted from the benefits that remain to be paid to him.
1989, c. 38, s. 210; 1992, c. 60, s. 27.
210. At the expiry of a period of 60 days following the decision of the Régie approving the termination report, or prior to the expiration of such period if all interested persons agree thereto, the pension committee or the insurer, as the case may be, shall pay the benefits of the members or beneficiaries affected by the total or partial termination of a pension plan, in accordance with the report and the provisions of this Act.
The pension committee or the insurer may, however, at any time if the plan is solvent and with the authorization of the Régie if the plan is not solvent, pay a pension in payment at the date of termination of the pension plan or a pension the first instalment of which becomes payable after that date. Where the amount of pension benefits paid exceeds the benefits allocated to the recipient in the termination report for the period covered by the pension benefits, the recipient shall repay the overpayment; otherwise, the overpayment may be deducted from the benefits that remain to be paid to him.
1989, c. 38, s. 210.