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 89 Disposition versions

2024-11-21

89. The summary of a member-funded pension plan must include the following instead of the particulars referred to in subparagraphs 1 and 6 of the first paragraph of section 56.1 of the Regulation respecting supplemental pension plans (chapter R-15.1, r. 6):

(1)  that the members’ and beneficiaries’ pensions under the plan may be indexed only if the plan is fully funded;

(2)  that the assets determined upon termination of the plan are entirely allocated to the members and beneficiaries whose benefits were not paid before the date of termination.

It must also indicate

(1)  that the plan is exempted from several provisions of the Act;

(2)  that the obligations of the plan, less the employer contribution, are borne by the plan’s active members.

O.C. 159-2007, s. 5; O.C. 1535-2024, s. 27.

2012-09-01

89. Every sum transferred to the pension plan, even otherwise than under chapter VII of the Act, shall be converted, at the date of the transfer, into a normal pension amount, on the basis of the actuarial assumptions used to verify the plan’s funding for the purposes of the plan’s most recent actuarial valuation.

The value of benefits transferred out of the plan shall be determined in accordance with sections 83 and 84.

O.C. 159-2007, s. 5.