R-15.1, r. 6 - Regulation respecting supplemental pension plans

Section 61.0.10 Disposition versions

2018-01-04

61.0.10. The annuity purchasing policy must indicate

(1)  that it has been established by the person or body who may amend the pension plan;

(2)  the rules regarding its revision;

(3)  the circumstances under which annuity purchases may be made from an insurer;

(4)  whether the benefits of members and beneficiaries may be paid in part and the special conditions that apply to such a payment;

(5)  the funding requirements referred to in section 61.0.2 for maintaining the degree of solvency of the plan and for making the special annuity purchasing payment to the pension fund;

(6)  the obligation to obtain the written consent of the employer with regard to making the special annuity purchasing payment in accordance with section 61.0.2;

(7)  the criteria for selecting the annuities to be purchased from an insurer;

(8)  the requirements referred to in sections 61.0.7 and 61.0.8 regarding the characteristics that the annuity purchased from an insurer must have and the conditions under which the characteristics of the pension may be replaced, in particular regarding the written consent of the member or beneficiary with regard to replacing the characteristics of his pension;

(9)  the information that must be provided to each member and beneficiary whose benefits are paid in accordance with the annuity purchasing policy, such as the amount and the characteristics of the annuity purchased, the name and contact information of the insurer and the rules provided for in section 182.2 of the Act;

(10)  the process and the criteria for choosing the insurer;

(11)  the effective date of the annuity purchasing policy.

O.C. 1183-2017, s. 41.