R-15.1, r. 7 - Regulation respecting the exemption of certain categories of pension plans from the application of provisions of the Supplemental Pension Plans Act

Section 126 Disposition versions

2024-11-21

126. Only a plan whose funding policy includes provisions in conformity with those required by section 105 can provide for the benefits of members and beneficiaries affected by the withdrawal of an employer to be maintained in the plan.

Such benefits maintained in the plan can only be offered to members and beneficiaries whose pension is in payment on the date of the withdrawal and, subject to what is provided for in the funding policy, to those who would have been entitled to payment of a pension on that date if they had so requested.

In addition, benefits maintained in the plan cannot be offered if, on the date of the withdrawal, the plan’s funding level is lower than the limit set by the funding policy or other criteria established by the funding policy are met on that date.

O.C. 1535-2024, s. 27.