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

Section 61.0.2 Disposition versions

2018-01-04

61.0.2. Where the actuarial valuation as at the date of the agreement with the insurer shows that the degree of solvency of the plan, established without taking into account the purchase of annuities, is less than 100%, a special annuity purchasing payment must be paid into the pension fund to maintain the degree of solvency of the plan at the level established before the purchase of the annuities.

Where the degree of solvency is greater than or equal to 100%, the payment of benefits must not cause the degree of solvency of the plan to be less than 100%. Otherwise, a special annuity purchasing payment must be paid into the pension fund to maintain the degree of solvency at 100%.

Where payment of the benefits of the members and beneficiaries is made by way of subrogation under section 61.0.5 and as a result the degree of solvency of the plan is reduced below the level set under the first or second paragraph, a special annuity purchasing payment must be paid to maintain the degree of solvency of the plan at the level established before the benefits of the members or beneficiaries are paid or at 100%, as the case may be.

O.C. 1183-2017, s. 41.