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R-15.1, r. 6.1.01 - Regulation respecting target-benefit pension plans in certain pulp and paper sector enterprises
Section 20
Disposition versions
20. A target-benefit pension plan is exempt from the application of sections 143 to 146 of the Act.
The value of the benefits of a member or beneficiary shall be paid in proportion to the degree of solvency of the plan determined in accordance with section 22.
The amount paid in application of the second paragraph may not be less that the total of the contributions made by the member plus accrued interest.
A payment made in accordance with this section constitutes a valid discharge with respect to the benefits covered by the payment.
