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

Section 67.2 Disposition versions

2022-04-14

67.2. To determine the plan’s liabilities pursuant to section 212.1 of the Act, the value of the pension that must be insured under section 237 of the Act is determined by discounting, at the date referred to in the first paragraph of section 212.1 of the Act and according to a rate that is the estimated rate of return of the pension fund since that date until the date on which the report was prepared, the premium established on that latter date using the assumptions for hypothetical wind-up and solvency valuations established by the Canadian Institute of Actuaries as they apply on the date on which the report was prepared, increased by a margin that allows for any possible variation in the cost of purchasing the annuity between that date and the probable date of payment.

The liabilities must also comprise the value of the pension amounts paid out of the pension fund to a member or beneficiary between the date referred to in the first paragraph of section 212.1 of the Act and the date on which the report was prepared, such value being determined according to the rate referred to in the first paragraph.

If the pension was insured before the date referred to in the first paragraph of section 212.1 of the Act, its value is determined by using the premium established on that date on the basis of the assumptions for hypothetical wind-up and solvency valuations established by the Canadian Institute of Actuaries as they apply on the date on which the report was prepared.

O.C. 1895-93, s. 7; O.C. 173-2002, s. 57; O.C. 1183-2017, s. 46; O.C. 308-2022, s. 55.

2018-01-04

67.2. (Revoked).

O.C. 1895-93, s. 7; O.C. 173-2002, s. 57; O.C. 1183-2017, s. 46.

2012-09-01

67.2. The actuary’s certificate required under the third paragraph of section 230.2 of the Act for a specific method of apportionment of the surplus assets must:

(1)  define the group of members or beneficiaries that the method affects;

(2)  describe the circumstances justifying that those members or beneficiaries receive a share of the surplus assets that is greater than that which they would have received prorata;

(3)  determine the portion of the surplus assets that results from those circumstances;

(4)  be attached to the draft agreement so as to be a part thereof.

O.C. 1895-93, s. 7; O.C. 173-2002, s. 57.