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 135 Disposition versions

2024-11-21

135. The pension committee must, within 30 days of the date of the report, send to the members and beneficiaries a notice informing them, in addition to their benefits that will be settled,

(1)  of any criterion that, according to the funding policy, imposes to settle their benefits;

(2)  that the degree of solvency, applicable to the plan, is the most recent in the fourth paragraph of section 143 of the Act;

(3)  that their benefits will be paid based on the plan’s degree of solvency;

(4)  that their benefits, adjusted in accordance with paragraph 3, will be paid by the purchase, from an insurer selected by the pension committee, of an annuity established using the value of the benefits or, if they so request, by means of a transfer 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 those benefits that is refundable.

O.C. 1535-2024, s. 27.