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 129 Disposition versions

2024-11-21

129. If the members’ and beneficiaries’ benefits cannot be maintained in the plan, the statement must also indicate,

(1)  in the case of a non-active member whose pension is in payment on the date of the withdrawal or a beneficiary,

(a)  the payment methods provided for in subparagraph a of paragraph 2 of section 127;

(b)  that the benefits, adjusted in accordance with paragraph 1 of section 127, will be paid by the purchase of an annuity from an insurer selected by the pension committee if the member or beneficiary does not indicate another choice within the period referred to in subparagraph 3 of the second paragraph of section 128;

(2)  in the case of any other member, that the benefits, adjusted in accordance with paragraph 1 of section 127, will be paid by means of a transfer to a plan referred to in section 98 of the Act, which applies with the necessary modifications, or, where applicable, by a lump-sum payment or transfer to a registered retirement savings plan of the portion of his or her benefits that is refundable.

O.C. 1535-2024, s. 27.