R-15.1, r. 8 - Regulation respecting the exemption of certain pension plans from the application of provisions of the Supplemental Pension Plans Act

Updated to 16 February 2023

This document has official status.

chapter R-15.1, r. 8

Regulation respecting the exemption of certain pension plans from the application of provisions of the Supplemental Pension Plans Act

Supplemental Pension Plans Act

(chapter R-15.1, s. 2).

Act to facilitate the establishment of a pension plan for employees working in childcare services

(chapter E-12.011, s. 8).

Charter of Ville de Montréal, metropolis of Québec

(chapter C-11.4, Schedule C (s. 37.1)).

DIVISION I PROVISIONS CONCERNING THE RÉGIME DE RETRAITE DU PERSONNEL DES CPE ET DES GARDERIES PRIVÉES CONVENTIONNÉES DU QUÉBEC

1. The Régime de retraite du personnel des CPE et des garderies privées conventionnées du Québec is exempted from the following provisions of the Supplemental Pension Plans Act (chapter R-15.1):

(1)  subparagraph 3 of the second paragraph of section 24;

(1.1)  the provisions mentioned in the Regulation respecting the funding of the pension plans of the municipal and university sectors (chapter R-15.1, r. 2), in accordance with the terms and conditions provided for in that Regulation and by considering that pension plan as a multi-employer pension plan for which the employer employing the greatest number of active members is a university;

(1.2)  section 21.1 of the Act, as it read on 31 December 2015, with respect to the consultation of members and beneficiaries regarding an amendment of the plan on the appropriation of surplus assets to the payment of employer contributions. For the purposes of that consultation, sections 146.4 and 146.5 of the Act in force on 1 January 2016 apply;

(2)  section 146 of the Act;

(3)  sections 198 to 203.

O.C. 415-2004, s. 1; O.C. 1098-2006, s. 2; O.C. 541-2010, s. 58; O.C. 116-2012, s. 1; O.C. 1177-2013, s. 1; O.C. 955-2019, s. 1; I.N. 2019-11-01.

1.0.1. Despite the third paragraph of section 318.5 of the Act, the following provisions of the Act in force on 1 January 2016 apply to the plan, with the following modifications:

(1)  section 60, with the modifications provided for in section 6.1 of the Regulation respecting the funding of pension plans of the municipal and university sectors (chapter R-15.1, r. 2);

(2)  section 119.1, where no actuarial valuation is required at the date of the end of a fiscal year of the pension plan by paragraph 2 of section 118 of the Act referred to in section 7 of the Regulation;

(3)  section 143, except that the value of the benefits of members and beneficiaries who do not have the option of maintaining their benefits in the plan must be paid at 100%.

O.C. 955-2019, s. 2.

1.0.2. The following provisions of the Regulation respecting the funding of pension plans of the municipal and university sectors (chapter R-15.1, r. 2) apply to the plan, with the following modifications:

(1)  for the purposes of subparagraph 2 of the first and third paragraphs of section 146.3.4 of the Act referred to in section 24 of the Regulation, and paragraph 1 of section 146.3.6 of the Act referred to in section 25 of the Regulation, the general account must be replaced by plan assets and the liabilities increased by the provision for adverse deviation referred to in the second paragraph of section 13 of the Regulation;

(2)  in addition to the information that must be indicated in the text of the plan under the third paragraph of section 38.1, the text of the plan must indicate that the termination of the deferred pension indexation before retirement does not give entitlement to an additional benefit;

(3)  in addition to the contributions referred to in the first paragraph of section 38.7, the actuarial gains of the new component of the plan are used to provision the stabilization fund;

(4)  the balance of the stabilization fund at the end of a fiscal year of the plan is determined without applying subparagraph 5 of the first paragraph of section 38.15 and the second paragraph of that section.

O.C. 955-2019, s. 2.

DIVISION I.1 PROVISIONS CONCERNING THE RÉGIME COMPLÉMENTAIRE DE RENTES DES TECHNICIENS AMBULANCIERS OEUVRANT AU QUÉBEC

O.C. 1012-2011, s. 1.

1.1. The Régime complémentaire de rentes des techniciens ambulanciers oeuvrant au Québec, registered with Retraite Québec under number 30849, is exempted from the application of the following provisions of the Supplemental Pension Plans Act (chapter R-15.1):

(1)  paragraph 3 of the second paragraph of section 24;

(2)  the provisions mentioned in the Regulation respecting the funding of pension plans of the municipal and university sectors (chapter R-15.1, r. 2), according to the terms and conditions provided for in that Regulation and by considering that pension plan as a multi-employer pension plan for which the employer employing the greatest number of active members is a university;

(3)  sections 143 to 146 with respect to the accrued benefits in the former component of the plan;

(3.1)  section 146 with respect to the accrued benefits in the new component of the pension plan and the benefits resulting from an amendment of conversion referred to in section 22 of the Act;

(4)  sections 198 to 203.

O.C. 1012-2011, s. 1; O.C. 116-2012, s. 2; O.C. 1177-2013, s. 2; O.C. 955-2019, s. 3.

1.2. Despite the third paragraph of section 318.5 of the Act, the following provisions of the Act in force on 1 January 2016 apply to the plan, with the following modifications:

(1)  section 60, with the modifications provided for in section 6.1 of the Regulation respecting the funding of pension plans of the municipal and university sectors (chapter R-15.1, r. 2);

(2)  section 119.1, where no actuarial valuation is required at the date of the end of a fiscal year of the pension plan by paragraph 2 of section 118 of the Act referred to in section 7 of the Regulation;

(3)  section 143, with respect to the value of benefits accrued in the new component of the pension plan by a member or beneficiary and with respect to the value of part of the benefits of a member who was the subject of an amendment of conversion referred to in section 22 of the Act, except that the value of the benefits of members and beneficiaries who do not have the option of maintaining their benefits in the plan must be paid at 100%.

O.C. 955-2019, s. 4.

1.3. The following provisions of the Regulation respecting the funding of pension plans of the municipal and university sectors (chapter R-15.1, r. 2) apply to the plan, with the following modifications:

(1)  for the purposes of subparagraph 2 of the first and third paragraphs of section 146.3.4 of the Act referred to in section 24 of the Regulation, and paragraph 1 of section 146.3.6 of the Act referred to in section 25 of the Regulation, the general account must be replaced by plan assets and the liabilities increased by the provision for adverse deviation referred to in the second paragraph of section 13 of the Regulation;

(2)  in addition to the information that must be indicated in the text of the plan under the third paragraph of section 38.1, the text of the plan must indicate that the indexation of the deferred pension until the date on which the active membership ended does not give entitlement to an additional benefit;

(3)  in addition to the contributions referred to in the first paragraph of section 38.7, the actuarial gains of the new component of the plan are used to provision the stabilization fund;

(4)  the balance of the stabilization fund at the end of a fiscal year of the plan is determined without applying subparagraph 5 of the first paragraph of section 38.15 and the second paragraph of that section.

O.C. 955-2019, s. 4.

DIVISION II PROVISIONS CONCERNING CERTAIN PENSION PLANS TO WHICH THE VILLE DE MONTRÉAL IS PARTY

2. This division applies to the following pension plans:

(1)  the Régime de retraite des contremaîtres de la Ville de Montréal, registered with Retraite Québec under number 27693;

(2)  the Régime de retraite des fonctionnaires de la Ville de Montréal, registered under number 27543;

(3)  the Régime de retraite des professionnels de la Ville de Montréal, registered under number 28739;

(4)  the Régime de retraite des cadres de la Ville de Montréal, registered under number 27542.

O.C. 415-2004, s. 2.

3. The second paragraph of section 132 and section 133 of the Supplemental Pension Plans Act (chapter R-15.1) notwithstanding, the contribution paid by Ville de Montréal to the pension fund of a plan in execution of an agreement referred to in the resolutions of the Council of the Ville de Montréal bearing the numbers CM03 0504 and CM03 0618 and made between the Ville de Montréal and the person, or if such be the case, the worker’s association representing the majority of the plan’s members, adjusted where required according to the said agreement, shall be used for the immediate reduction of the outstanding amortization amounts related to the initial unfunded actuarial liability identified in the report on the most recent complete actuarial valuation of the plan submitted to the Régie prior 1 July 2003.

O.C. 415-2004, s. 3.

4. Any excess amount determined by the application of the first paragraph of section 134 of the Supplemental Pension Plans Act (chapter R-15.1) shall, if need be, and sections 133 and 134 of the Act notwithstanding, be allocated to the redemption of the bond credited to the pension fund of the plan concerned as a result of the execution of the agreement referred to in section 3 until the value as at 1 July 2003 of the excess amounts thus allocated is equal to the amount related to the plan among the following amounts:

(1)  in the case of the plan referred to in paragraph 1 of section 2: $16,974,000;

(2)  in the case of the plan referred to in paragraph 2 of section 2: $27,195,000;

(3)  in the case of the plan referred to in paragraph 3 of the said section: $37,191,000;

(4)  in the case of the plan referred to in paragraph 4 of the said section 2: nil.

O.C. 415-2004, s. 4.

5. Sections 133 and 134 of the Supplemental Pension Plans Act (chapter R-15.1) notwithstanding, where the value as at 1 July 2003 of the excess amounts determined by applying the first paragraph of section 134 of the Act to a pension plan reaches the amount indicated in section 4 with respect to the said plan, a portion equal to 40% of any excess amount thus determined shall be allocated to increasing the benefits of the plan’s members and beneficiaries, the balance of such excess being allocated, if need be, to the redemption of the bond referred to in section 4.

The first paragraph applies with respect to a pension plan until the later of the following events: the value referred to therein reaches the amount set for that plan by the second paragraph of section 32 of the Act respecting the negotiation of agreements concerning the reduction of labour costs in the municipal sector (1998, chapter 2) or the bond credited to the pension fund of the plan concerned as a result of the execution of the agreement referred to in section 3 has been redeemed in full.

O.C. 415-2004, s. 5.

6. The first paragraph of section 172 of the Supplemental Pension Plans Act (chapter R-15.1) applies to the said pension plans by replacing the percentage “10%” by the percentage “17,5%”.

O.C. 415-2004, s. 6.

7. (Implicitly revoked; 2006, chapter 42, ss. 11 and 46).

O.C. 415-2004, s. 7.

8. Section 32 of the Act respecting the negotiation of agreements concerning the reduction of labour costs in the municipal sector (1998, chapter 2), as amended by section 6 of the Act to amend various legislative provisions concerning municipal affairs (2003, chapter 3), is further amended by inserting the following paragraphs, after the first paragraph:

“As at 1 July 2003, the value of the actuarial gains to be used for the purposes provided for in the first paragraph is, for the following plans referred to in the first paragraph, set at the following corresponding amount:

(1)  the pension plan referred to in paragraph 1: $32,719,000;

(2)  the pension plan referred to in paragraph 3: $219,669,000;

(3)  the pension plan referred to in paragraph 5: $83,951,000;

(4)  the pension plan referred to in paragraph 6: $33,793,000.

Upon agreement thereto between the Ville de Montréal and the person, or if such be the case, worker’s association representing the majority of the members of a pension plan referred to in the second paragraph, such gains may likewise be used, in accordance with the terms and conditions set out in a regulation made pursuant to section 2 of the Supplemental Pension Plans Act (chapter R-15.1), to provide for the redemption of a bond referred to in such regulation or to pay the employer portion of the current service contribution. Where such gains are not sufficient to redeem in full such bond, gains determined subsequently may also, insofar as the agreement so provides, be used to provide for the redemption of the bond or to increase the benefits of the plan’s members or beneficiaries, until the balance of the bond is nil.”.

O.C. 415-2004, s. 8.

DIVISION II.1 PROVISIONS CONCERNING THE RÉGIME DE RETRAITE DES EMPLOYÉS DE LA VILLE DE LÉVIS

O.C. 1012-2011, s. 2.

8.1. Sections 49 to 64 of the Regulation respecting the exemption of certain categories of pension plans from the application of provisions of the Supplemental Pension Plans Act (chapter R-15.1, r. 7) apply, until repealed by Order in Council number 541-2010 dated 23 June 2010, to the Régime de retraite des employés de la Ville de Lévis, registered with the Régie des rentes du Québec under number 21190.

O.C. 1012-2011, s. 2.

DIVISION III PROVISIONS CONCERNING THE SUPPLEMENTAL PENSION PLAN FOR EMPLOYEES OF THE QUÉBEC CONSTRUCTION INDUSTRY

9. The Supplemental Pension Plan for Employees of the Québec Construction Industry, registered with Retraite Québec under number 25299, is, on the conditions set forth hereinafter, exempted from the application of the following provisions:

(1)  subparagraph 13 of the second paragraph of section 14, subparagraph 3 of the second paragraph of section 24, sections 26, 48, 51, 60.1, 66.1, 69.1, 77, 89.1, 91.1 and 92.1, the third paragraph of section 99, sections 166 and 198 to 203 of the Supplemental Pension Plans Act (chapter R-15.1);

(2)  section 44 of the Act, provided any contribution referred to therein bears interest, from the first day of the month following the one in which it must be paid into the pension fund, at the rate of return obtained on the investment of the assets credited to the account to which it must be paid, or in the case of a member contribution that must be paid to the general account, at the rate obtained monthly on 5-year personal term deposits in chartered banks, as compiled by the Bank of Canada;

(3)  section 66 of the Act, provided a member who ceased to be an active member but who is not entitled to a pension benefit is entitled to the refund of his member contributions, with accrued interest;

(4)  section 69 of the Act, provided that every member who ceases to be an active member after having accumulated at least 2,800 hours worked as an active member is entitled to a deferred pension at least equal to the sum of the basic pension from the general account and the pension related to his complementary account;

(5)  the first paragraph of section 71 of the Act, provided every member who ceases to be an active member after having accumulated at least 2,800 hours worked as an active member and whose period of continuous service ended within the 10 years preceding the date on which he reaches the normal retirement age is entitled to an early pension;

(6)  section 78 of the Act, provided the member is entitled to the refund of all the contributions paid in his behalf during the postponement period;

(7)  the third paragraph of section 87 and the provisions of the first paragraph of section 88.1 of the Act that allow the spouse of a member to waive the benefits granted him under section 87 of the Act, provided the said spouse has the right to waive, to the benefit of such member, the right to receive a portion of the pension provided for in the second paragraph of section 87;

(8)  the provisions of the first paragraph of section 88.1 of the Act that allow the spouse of a member to renounce the rights accorded to said spouse pursuant to section 86 of the Act;

(9)  the second sentence of the first paragraph of section 99 of the Act but only to allow further restriction of the transfer right of a member who is entitled to an early pension;

(10)  section 112 of the Act, provided the Commission de la construction du Québec transmits:

(a)  within nine months following the end of each of the Plan’s fiscal year, to each active member, a statement containing the information referred to in section 112 of the Act and, where appropriate, the notice provided for in the second paragraph of that section;

(b)  every five years, to each non-active member and beneficiary, a statement and a notice containing information similar to that contained, respectively, in the statement and notice provided for in subparagraph a, which applies with the necessary modifications;

(11)  the third paragraph of section 299 of the Act, with respect to the right of the spouse of a member to renounce the pension benefit referred to therein;

(12)  section 15 of the Regulation respecting supplemental pension plans (chapter R-15.1, r. 6), provided the Commission has made with Retraite Québec an agreement related to the application of section 165 of the Act and provided such agreement is in effect;

(13)  the provisions of Division V of the Regulation that prescribe the determination in months of the period between 2 dates, provided such determination is made on the basis of the hours worked credited to the worker between those dates;

(14)  sections 56.2 to 59.0.2 of the Regulation, provided the information provided for in sections 57, 58, excluding the information provided for in subparagraph n of paragraph 5 of that section, and 59 of the Regulation as it read on 30 December 2002 is provided to those concerned thereby;

(15)  subparagraphs b and c of subparagraph 8 of section 58 as well as subparagraphs e and f of subparagraph 4 of section 59 of the Regulation, provided the information provided for by those provisions are provided to the applicant for a refund or transfer of his benefits or the payment of a pension benefit.

O.C. 415-2004, s. 9.

10. The following provisions of the Supplemental Pension Plans Act apply to the plan, subject to the following changes:

(1)  section 46, by replacing, in the first paragraph, the words “the actuary” with the words “a person who is a member of the Canadian Institute of Actuaries”;

(2)  section 60.1, by replacing, in the second paragraph, the words “the date the member ceases to be an active member” with the words “the end of the member’s last period of active membership in the plan”;

(3)  section 66, by replacing, in the first paragraph, the words “ceases to be an active member” with the words “applies for a refund”;

(4)  section 111, by replacing, in the second paragraph, the number “90” with the number “120”;

(5)  section 290.1, by replacing, in the first paragraph, the number “2001” with the number “2006”.

O.C. 415-2004, s. 10.

11. For applying sections 60 and 61 of the Supplemental Pension Plans Act (chapter R-15.1) where a member has had several periods of active membership in the plan, the sum of the member’s member contributions and the value of any pension benefit to which he is entitled shall be determined at the last date as of which he became entitled to such pension benefit, taking into account his accrued benefits and the member contributions that he has paid with respect to all of such periods, with the exception of any periods for which he has already obtained a refund or transfer of his benefits.

O.C. 415-2004, s. 11.

12. A member or spouse who has become entitled to a pension whose value is less than 4% of the Maximum Pensionable Earnings established pursuant to the Act respecting the Québec Pension Plan (chapter R-9) for the year in which he becomes entitled to such pension, may elect, before payment of the pension begins, to receive instead a lump-sum payment.

O.C. 415-2004, s. 12.

13. The spouse of a member is entitled to a refund of the value of the benefits payable to him as a result of the member’s death if such value is less than 20% of the Maximum Pensionable Earnings established pursuant to the Act respecting the Québec Pension Plan (chapter R-9) for the year in which the member died. The spouse may not exercise that right once a pension arising from the death begins to be paid to him.

Where the conditions set forth in the first paragraph are met, the Commission may likewise make a full payment of the spouse’s benefits by refunding to him the sum corresponding to the value of his pension. Beforehand, the Commission must ask the spouse by notice in writing to make known to it his instructions as to the method of refund; failing receipt of a reply with 30 days from the transmission of such notice, the Commission may make the refund. The notice transmitted to the spouse must mention that eventuality.

O.C. 415-2004, s. 13.

14. The Commission may, upon application of the spouse who benefits therefrom, make a refund of the residual value of a pension that began to be paid prior 1 January 2006, provided the value is less than 20% of the Maximum Pensionable Earnings established pursuant to the Act respecting the Québec Pension Plan (chapter R-9) for the year in which the refund application is made.

O.C. 415-2004, s. 14.

DIVISION III.1

(Revoked)

O.C. 987-2005, s. 1; O.C. 1053-2012, s. 1.

14.1. (Revoked).

O.C. 987-2005, s. 1; O.C. 1053-2012, s. 1.

14.2. (Revoked).

O.C. 987-2005, s. 1; O.C. 1053-2012, s. 1.

14.3. (Revoked).

O.C. 987-2005, s. 1; O.C. 1053-2012, s. 1.

14.4. (Revoked).

O.C. 987-2005, s. 1; O.C. 1053-2012, s. 1.

14.5. (Revoked).

O.C. 987-2005, s. 1; O.C. 1053-2012, s. 1.

14.6. (Revoked).

O.C. 987-2005, s. 1; O.C. 1053-2012, s. 1.

14.7. (Revoked).

O.C. 987-2005, s. 1; O.C. 1097-2006, s. 1; O.C. 1053-2012, s. 1.

14.8. (Revoked).

O.C. 987-2005, s. 1; O.C. 1053-2012, s. 1.

DIVISION III.2 PROVISIONS CONCERNING THE FUNDING OF CERTAIN KRUGER INC. PENSION PLANS

O.C. 200-2012, s. 1.

14.9. This division applies to the following pension plans:

(1)  the Régime de retraite des employés cadres et non syndiqués de Kruger Inc., registered with Retraite Québec under number 7300;

(2)  the Régime de retraite des employés syndiqués de Kruger Inc. Bromptonville, registered under number 20637;

(3)  the Régime de retraite des employés syndiqués de Kruger Inc. Trois-Rivières, registered under number 25451;

(4)  the Régime de retraite des employés syndiqués de Kruger Wayagamack Inc., registered under number 31885;

(5)  the Régime de retraite des employés cadres et non-syndiqués de Kruger Wayagamack Inc., registered under number 31889.

O.C. 200-2012, s. 1.

14.10. Notwithstanding section 39 of the Supplemental Pension Plans Act, (chapter R-15.1), the employer shall, during each fiscal year of the pension plan ending between 30 December 2010 and 1 January 2013, pay as employer contributions an amount which, when added to the member contributions, is equal to or greater than the total of the following amounts:

(1)  the amount of the current service contribution determined in accordance with sections 138 and 139 of the Act;

(2)  the amount obtained by multiplying by the following percentage the amortization payment determined in respect of the solvency deficiency established in accordance with the second paragraph, on the assumption that the amortization period is 5 years:

(a)  for the Régime de retraite des employés cadres et non syndiqués de Kruger Inc., registered under number 7300, 17%;

(b)  for the Régime de retraite des employés syndiqués de Kruger Inc. Bromptonville, registered under number 20637, 34%;

(c)  for the Régime de retraite des employés syndiqués de Kruger Inc. Trois-Rivières, registered under number 25451, 42%;

(d)  for the Régime de retraite des employés syndiqués de Kruger Wayagamack Inc., registered under number 31885, 43%;

(e)  for the Régime de retraite des employés cadres et non-syndiqués de Kruger Wayagamack Inc., registered under number 31889, 35%.

(3)  the special amortization payment provided for in section 14.12 required during the fiscal year.

For the purposes of paragraph 2 of the first paragraph and notwithstanding section 130 of the Act, the solvency deficiency, as at the date of an actuarial valuation of the plan, corresponds to the amount by which the surplus liabilities of the plan established in accordance with the third paragraph exceeds the assets of the pension plan, established in accordance with section 123 of the Act.

For the purposes of the second paragraph, the liabilities shall be equal to the sum of the following values:

(1)  the value of the obligations arising from the plan, assuming that the plan is terminated on the date of the actuarial valuation;

(2)  the value of the obligations arising from any amendment to the plan considered for the first time at the date of the valuation and made before 31 December 2009, such value having been calculated on the assumption that the effective date of the amendment is the valuation date.

O.C. 200-2012, s. 1.

14.11. Notwithstanding section 130 of the Supplemental Pension Plans Act (chapter R-15.1), no improvement unfunded actuarial liability is determined for an amendment made between 30 December 2009 and 1 January 2013 during an actuarial valuation of the plan.

O.C. 200-2012, s. 1.

14.12. Notwithstanding section 132 of the Supplemental Pension Plans Act (chapter R-15.1), where, further to an amendment made between 30 December 2009 and 1 January 2013, an actuarial valuation determines the value of additional obligations of a pension plan, a special amortization payment is determined.

The payment corresponds to the higher of the value of the additional obligations determined on a solvency basis or their value determined on a funding basis.

The special amortization payment shall be made as soon as the report on the first actuarial valuation to take the amendment into consideration is sent to the Régie. To such payment shall be added accrued interest, if any, from the date of the valuation, calculated at the rate referred to in section 48 of the Act.

O.C. 200-2012, s. 1.

14.13. For the fiscal years ending between 30 December 2010 and 1 January 2013, a pension plan referred to in section 14.9 is exempt from the application of section 42.1 of the Supplemental Pension Plans Act (chapter R-15.1). However, the provisions of this Division do not invalidate any letter of credit provided before 22 December 2011.

O.C. 200-2012, s. 1.

14.14. In respect of service completed prior to 1 January 2010, Kruger Inc. shall be solidarily liable with Papiers de publication Kruger Inc. for obligations arising from a pension plan under paragraphs 1 to 3 of section 14.9.

In addition to the information prescribed in section 14 of the Supplemental Pension Plans Act (chapter R-15.1), the plan text shall contain a mention of the provision provided for in the first, fifth and sixth paragraphs.

No dividend shall be paid from the sale or assignation of any Kruger Inc. assets, whether those assets are sold or assigned in whole or in part, during such time that the weighted average of the degrees of solvency of the pension plans under section 14.9 remains below 90%, and, unless Kruger Inc. provides another acceptable guarantee, Kruger Inc. shall not proceed to distribute any revenue thus procured in any manner whatsoever, including by:

(1)  declaring or paying any other dividends, or buying back stock shares or other securities;

(2)  repaying any advance or loan to Kruger Inc. shareholders;

(3)  declaring any bonus or other type of payment to the shareholders;

Kruger Inc. or any corporation held directly or indirectly by Kruger Inc. may buy back any capital stock and pay any dividends on any type of share held by a Crown corporation, in particular:

(1)  further to the conversion of loans granted by a Crown corporation to any corporation held directly or indirectly by Kruger Inc. into shares of any type in Kruger Inc.;

(2)  further to the conversion of shares of any type in any corporation held directly or indirectly by Kruger Inc. into shares of any type in Kruger Inc.

Kruger Inc. shall be discharged from solidary liability in respect of a pension plan referred to in paragraphs 1 to 3 of section 14.9 where:

(1)  the plan becomes solvent with regard to the obligations referred to in the first paragraph;

(2)  an external expert designated and mandated by the Régie, whose fees shall be assumed by Kruger Inc., shows that the employer is able to assume the obligations relative to the plan where, as the case may be:

(a)  Papiers de publication Kruger Inc. merges with a corporation that is not held, whether directly or indirectly, by Kruger Inc.;

(b)  shares in Papiers de publication Kruger Inc. are transferred to a corporation that is not held, whether directly or indirectly, by Kruger Inc.;

(c)  a plan is transferred to a corporation that is not held, whether directly or indirectly, by Kruger Inc.

In the case provided for in subparagraph c of paragraph 2 of the fifth paragraph, Kruger Inc. shall also be discharged from solidary liability in respect of a pension plan referred to in paragraphs 1 to 3 of section 14.9 provided Kruger Inc. pays to the plan an amount corresponding to the difference between the amortization payments that should have been made in accordance with the Act and the amount paid in accordance with the provisions of this Division. That amount shall not exceed the amount required for the part of the plan related to the obligations under the first paragraph to be solvent.

O.C. 200-2012, s. 1.

14.15. The assets and liabilities of a pension plan referred to in section 14.9 may not be the object of a merger with all or part of the assets and liabilities of any other pension plan, whether referred to or not in section 14.9.

O.C. 200-2012, s. 1.

14.16. Notwithstanding section 118 as it read on 31 December 2009, a pension plan referred to in section 14.9 shall be the subject of an actuarial valuation as at 31 December 2009.

O.C. 200-2012, s. 1.

14.17. For the purposes of this Division, the Regulation respecting supplemental pension plans (chapter R-15.1, r. 6) shall be read:

(1)  by replacing paragraph 4 of section 4.4 with the following:

“(4) the special amortization payment determined under section 132 of the Act or section 14.12 of the Regulation respecting the exemption of certain pension plans from the application of provisions of the Supplemental Pension Plans Act (chapter R-15.1, r. 8);”

(2)  by replacing paragraph 1 of section 59.0.2 with the following:

“(1) the degree of solvency of the pension plan determined at the date of the most recent actuarial valuation of the entire plan;”.

O.C. 200-2012, s. 1.

14.18. In addition to meeting the requirements set out in sections 4 to 5.4 of the Regulation respecting supplemental pension plans (chapter R-15.1, r. 6), the actuarial valuation report for the plan shall contain the following information:

(1)  the monthly amortization payment established in accordance with paragraph 2 of the first paragraph of section 14.10;

(2)  the amount of the solvency deficiency established in accordance with the second paragraph of section 14.10.

Should the actuarial valuation report be transmitted to the Régie without taking into account the information required under the first paragraph, the report shall be amended or replaced.

O.C. 200-2012, s. 1.

14.19. Notwithstanding paragraph 1 of the second paragraph of section 119 of the Supplemental Pension Plans Act (chapter R-15.1) as it read on 31 December 2009, and notwithstanding paragraph 1 of the first paragraph of this section, a pension committee has until 5 October 2012 to send to the Régie des rentes du Québec the actuarial valuation report of a pension plan referred to in section 14.9, carried out in accordance with the provisions of this Division and whose date is subsequent to 30 December 2009 but prior to 1 January 2012.

The fees provided for under the fourth paragraph of section 14 of the Regulation respecting supplemental pension plans (chapter R-15.1, r. 6) with regard to a report referred to in the first paragraph shall be paid to the Régie for each complete month of delay as of 5 October 2012.

O.C. 200-2012, s. 1.

14.20. The fiscal year of a pension plan referred to in section 14.9 corresponds to the calendar year.

O.C. 200-2012, s. 1.

14.21. The provisions of this Division, with the exception of section 14.19, cease to apply to a pension plan referred to in section 14.9 as of the first of the following dates:

(1)  the date of the first actuarial valuation showing that the plan is solvent;

(2)  the date corresponding to the end of a fiscal year that is fixed in a writing giving instructions to that effect and sent to the pension committee and the Régie, by the employer party to the plan, prior to the end of that fiscal year;

(3)  31 December 2012.

O.C. 200-2012, s. 1.

14.22. For the fiscal years ending on 31 December 2010 and 31 December 2011, the plans referred to in section 14.9 are exempted from the application of the third paragraph of section 41 of the Supplemental Pension Plans Act (chapter R-15.1).

Notwithstanding the third paragraph of that section, for the fiscal year ending on 31 December 2012, the employer shall, until the actuarial valuation report as at 31 December 2011 has been sent to the Régie, make any monthly payments which may have been determined in accordance with section 14.10 for the fiscal year ending on 31 December 2011.

For the purposes of the second paragraph, the monthly payments are determined on the basis of the information contained in the report relating to an actuarial valuation of the pension plan as at 31 December 2010 that was sent to the Régie prior to 31 December 2011.

O.C. 200-2012, s. 1.

DIVISION III.3 PROVISIONS CONCERNING THE FUNDING OF THE RÉGIME DE RENTES DES TEAMSTERS, LOCAL 1999 (GROUPE 973)

O.C. 227-2014, s. 1.

14.23. This Division applies to the Régime de rentes des Teamsters, Local 1999 (groupe 973), registered with Retraite Québec under number 27288.

O.C. 227-2014, s. 1.

14.24. Notwithstanding section 142 of the Act and section 8 of the Regulation providing temporary relief measures for the funding of solvency deficiencies (chapter R-15.1, r. 3.1), and notwithstanding paragraph 3 of section 2 of that Regulation, the amortization period for the technical actuarial deficiency determined as at 31 December 2011 is 15 years. That period shall expire at the latest 15 years after the date of the actuarial valuation that determined the deficiency.

O.C. 227-2014, s. 1.

14.25. The pension committee must send to the Régie, prior to 2 June 2014, an actuarial valuation report as at 31 December 2011 for the plan along with the actuarial valuation report as at 31 December 2012, carried out in accordance with the provisions of this Division.

The fees provided for under the fourth paragraph of section 14 of the Regulation respecting supplemental pension plans (chapter R-15.1, r. 6) with regard to a report referred to in the first paragraph shall be paid to the Régie for each complete month of delay as of 2 June 2014.

O.C. 227-2014, s. 1.

14.26. The provisions of this Division cease to apply in respect of the technical actuarial deficiency determined as at 31 December 2011 as of the first of the following dates:

(1)  the date of the first actuarial valuation showing that the plan is solvent;

(2)  the date fixed in a writing by the person or body empowered to amend the plan. That date must be the date on which the fiscal year of the plan ends;

(3)  the date of the end of the plan’s first fiscal year beginning after 31 December 2025.

O.C. 227-2014, s. 1.

14.27. The provisions of the Regulation providing temporary relief measures for the funding of solvency deficiencies (chapter R-15.1, r. 3.1) apply notwithstanding the provisions of the first paragraph of section 1 of that regulation.

O.C. 227-2014, s. 1.

DIVISION III.4 PROVISIONS CONCERNING THE BOMBARDIER PENSION PLANS

O.C. 1105-2015, s. 1.

14.28. This Division applies to the following pension plans:

(1)  the Régime de retraite des employés salariés de Bombardier Inc., Bombardier Aéronautique, Montréal, registered with the Régie des rentes du Québec under number 22984;

(2)  the Régime de retraite des employés payés à l’heure de Bombardier Inc., Bombardier Aéronautique, Montréal, registered under number 22985;

(3)  the Régime de retraite de Bombardier Inc., registered under number 23709;

(4)  the Régime de retraite des cadres supérieurs de Bombardier Inc., registered under number 26616;

(5)  the Régime de retraite pour les personnes salariées travaillant sur une base horaire de l’usine de La Pocatière de Bombardier Transport Canada Inc., registered under number 29533;

(6)  the Régime de retraite des employés horaires de Bombardier Inc., Centre de finition Montréal, registered under number 31875;

(7)  the Régime de retraite des cadres supérieurs de Bombardier Transport Canada Inc., registered under number 32125;

(8)  the Régime de retraite des employés non syndiqués de Bombardier Transport Canada Inc., registered under number 32126.

O.C. 1105-2015, s. 1.

14.29. Notwithstanding subparagraph 2 of the first paragraph of section 118 of the Supplemental Pension Plans Act (chapter R-15.1), no actuarial valuation of those plans is required at the end of the fiscal year ending 31 December 2014.

O.C. 1105-2015, s. 1.

DIVISION III.5 PROVISIONS CONCERNING THE MERGER OF CERTAIN MULTI-JURISDICTIONAL PENSION PLANS IN THE PRESS SECTOR WITH A JOINTLY PENSION PLAN

O.C. 17-2021, s. 1.

14.30. This Division applies in respect of the merger, on 1 July 2019, of the following pension plans:

(1)  the Pension Plan of Canadian Press Enterprises Inc., registered under number 0237537 with the Financial Services Regulatory Authority of Ontario;

(2)  the Canadian Press Enterprises Inc. Pension Plan for Employees Represented by the Canadian Media Guild, registered under number 1031848 with the Financial Services Regulatory Authority of Ontario;

(3)  the Postmedia Network Inc. Retirement Plan, registered under number 1077049 with the Financial Services Regulatory Authority of Ontario;

(4)  the Colleges of Applied Arts and Technology Pension Plan, registered under number 0589895 with the Financial Services Regulatory Authority of Ontario.

O.C. 17-2021, s. 1.

14.30.1. This Division also applies in respect of the merger, on 1 August 2021, of the following pension plans:

(1)  the defined-benefit component of the Globe and Mail Employees’ Retirement Plan, registered under number 1075704 with the Financial Services Regulatory Authority of Ontario;

(2)  the Colleges of Applied Arts and Technology Pension Plan, registered under number 0589895 with the Financial Services Regulatory Authority of Ontario.

O.C. 58-2023, s. 1.

14.30.2. The Globe and Mail Employees’ Retirement Plan is exempted from sections 98 and 113 of the Act regarding members of the plan who started contributing to the Colleges of Applied Arts and Technology Pension Plan as of 1 May 2021.

O.C. 58-2023, s. 1.

14.31. A pension plan referred to in paragraphs 1 to 3 of section 14.30, is exempted from the first, second and third paragraphs of section 196 of the Act, if all the members and beneficiaries who are covered by the merger are informed by means of a written notice and at least two-thirds of the active members agreed to it and not more than one-third of the non-active members and beneficiaries as a group were opposed to it. A union can consent in the name of the members it represents.

The exemptions provided for in the first paragraph apply, on the conditions provided therein, as of 1 August 2021 to the pension plan referred to in paragraph 1 of section 14.30.1.

O.C. 17-2021, s. 1; O.C. 58-2023, s. 2.

14.32. The pension plan referred to in paragraph 4 of section 14.30 is exempted from the following provisions of the Act on the conditions indicated below:

(1)  the last paragraph of section 143 and in sections 145 to 146, if the value of the benefits of a member or a beneficiary is paid in full, up to 100%. The balance of the value of the benefits which, according to the transfer ratio applicable to a jointly pension plan cannot be paid, must be paid within 5 years after the date of the initial payment;

(2)  the provisions of Chapter XIII of the Act that apply to the withdrawal of an employer from a multi-employer pension plan;

(3)  the first paragraph of section 228 regarding the benefits accrued as of 1 July 2019 and the amendments made as of that date to enhance the benefits of members or beneficiaries under the plans referred to in paragraphs 1 to 3 of section 14.30 for which the transfer of assets and liabilities takes effect on 1 July 2019.

(4)  section 230.2, provided that the surplus assets upon plan termination are allocated to members and beneficiaries and distributed between them in proportion to the value of their benefits.

For the purposes of subpagraph 3 of the first paragraph, the exemption in the first paragraph of section 228 of the Act applies

(1)  as of 1 May 2021 regarding the benefits accrued as of that date by the members referred to in section 14.30.2 and any person employed by The Globe and Mail Inc. as of that date;

(2)  as of 1 August 2021 regarding the amendments made to enhance the benefits of members or beneficiaries under the plan referred to in paragraph 1 of section 14.30.1 for which the transfer of assets and liabilites takes effect on that date.

O.C. 17-2021, s. 1; O.C. 58-2023, s. 3.

14.33. For the purpose of paying the debt of the employer pursuant to subdivision 4 of Division II of Chapter XIII of the Act, the assets upon termination must be distributed, according to sections 220 to 227 of the Act that apply with the necessary modifications, between the value of the benefits referred to in subparagraph 3 of the first paragraph of section 14.32 and the value of the benefits that come from the pension plans referred to in paragraphs 1 to 3 of section 14.30.

For the purposes of the first paragraph, the assets upon termination must be distributed between the value of the benefits referred to in the second paragraph of section 14.32 and the value of the benefits that come from the pension plan referred to in paragraph 1 of section 14.30.1 before 1 May 2021.

O.C. 17-2021, s. 1; O.C. 58-2023, s. 4.

DIVISION IV FINAL PROVISIONS

15. This Regulation replaces the Order in Council respecting the exemption of the Supplemental Pension Plan for Employees in the Québec Construction Industry from the application of certain provisions of the Supplemental Pension Plans Act (O.C. 215-98, 98-02-25).

O.C. 415-2004, s. 15.

16. The following provisions have effect from:

(1)  26 April 1998, the provisions of paragraph 1 of section 9 with respect to section 91.1 and the third paragraph of section 99 of the Supplemental Pension Plan Act (chapter R-15.1), paragraph 6 of the same section, paragraph 1 of section 10 and section 11;

(2)  1 January 2001, the provisions of paragraph 1 of section 9 with respect to sections 60.1, 66.1, 89.1, 92.1 and 198 to 203 of the Supplemental Pension Plans Act, paragraphs 2, 3, 7, 8, 10 and 11 of the same section, paragraphs 4 and 5 of section 10 and section 12;

(3)  31 December 2002, the provisions of paragraph 14 of section 9;

(4)  1 April 2003, the provisions of Division I;

(5)  1 July 2003, the provisions of Division II.

O.C. 415-2004, s. 16.

17. Section 6 will cease to have effect with respect to a pension plan to which Division II applies upon the expiry of the period prescribed for transmitting to the Régie the report on the complete actuarial valuation of the plan the date of which is after 1 July 2003 and that shows, for the first time, that the bond referred to in section 4 has been fully redeemed.

Furthermore, the following provisions will cease to have effect:

(1)  1 July 2004, paragraphs 3, 4 and 5 of section 9 and the provisions of section 12 respecting a member;

(2)  1 January 2005, the provisions of paragraph 1 of section 9 respecting section 92.1 of the Supplemental Pension Plans Act (chapter R-15.1);

(3)  1 July 2005, the provisions of paragraph 1 of section 9 respecting section 89.1 of the Supplemental Pension Plans Act and the provisions of paragraph 2 of the same section that refer in particular to the member contribution that must be paid into the general account of the plan’s pension fund;

(4)  1 January 2006, the provisions of paragraph 1 of section 9 respecting section 60.1 of the Supplemental Pension Plans Act, paragraphs 8, 11 and 14 of the same section, paragraph 3 of section 10 as well as the provisions of section 12 respecting a spouse;

(5)  1 July 2006, the provisions of paragraph 1 of section 9 respecting sections 66.1 and 91.1 of the Supplemental Pension Plans Act;

(6)  31 December 2007, the provisions of section 14.

O.C. 415-2004, s. 17.

18. (Omitted).

O.C. 415-2004, s. 18.

TRANSITIONAL

2019

(O.C. 955-2019) SECTION 5. If the actuarial valuation at 31 December 2018 shows that the degree of solvency of the Régime complémentaire de rentes des techniciens ambulanciers oeuvrant au Québec, determined without reference to the amendment referred to in section 22 of the Act, is less than 90%, a special amortization payment of an amount that corresponds to the assets lacking so that the plan’s degree of solvency, at the date of the actuarial valuation, is at least equal to that which would have been determined at that date had it not been amended, must be paid into the pension fund in full on the day following the date of the valuation.

SECTION 6. Despite paragraph 3 of section 1.0.1, introduced by section 2, the Régime de retraite du personnel des CPE et des garderies privées conventionnées du Québec is exempted from the application of sections 143 to 146 of the Act with respect to the payment of benefits of a member who received the statement referred to in section 113 of the Act before 1 January 2019 provided that the member requests payment of his or her benefits within 90 days after receipt of the statement.

SECTION 7. This Regulation has effect from 1 January 2019, except paragraph 1.2 of section 1, introduced by paragraph 1 of section 1, which has effect from 31 October 2018.

I.N. 2019-11-01

2014

(O.C. 227-2014) SECTION 2. This Regulation is not a regulation referred to in the third paragraph of section 230.0.0.9 of the Supplemental Pension Plans Act (chapter R-15.1).

REFERENCES

O.C. 415-2004, 2004 G.O. 2, 1543

O.C. 987-2005, 2005 G.O. 2, 4752

O.C. 1097-2006, 2006 G.O. 2, 3936

O.C. 1098-2006, 2006 G.O. 2, 3937

O.C. 541-2010, 2010 G.O. 2, 1880

O.C. 1012-2011, 2011 G.O. 2, 2951

O.C. 116-2012, 2012 G.O. 2, 571

O.C. 200-2012, 2012 G.O. 2, 1013

O.C. 1053-2012, 2012 G.O. 2, 3210

O.C. 1177-2013, 2013 G.O. 2, 3294

O.C. 227-2014, 2014 G.O. 2, 714

O.C. 1105-2015, 2015 G.O. 2, 3372

S.Q. 2015, c. 20, s. 61

O.C. 955-2019, 2019 G.O. 2, 2361

O.C. 17-2021, 2021 G.O. 2, 403

O.C. 58-2023, 2023 G.O. 2, 74