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 11 Disposition versions

2012-09-01

11. Each employer shall stipulate in the plan

(1)  whether membership in the plan is optional or compulsory;

(2)  the conditions for eligibility and membership and the conditions for withdrawal;

(3)  the employer contribution that it undertakes to pay or the method used for calculating that contribution;

(3.1)  the contributory or non-contributory nature of the plan and, in the case of the former, the member contribution or the method for its calculation;

(3.2)  for the members as a whole, the account, either locked-in or not locked-in, in which will be entered, if any, the member contributions, and the account in which will be entered the amounts transferred from a deferred profit sharing plan;

(4)  whether the employer or the members will pay for the operating expenditures of the retirement information committee referred to in paragraph 18 of section 10;

(5)  whether the employer, the members or the pension fund will pay for the administrative expenses of the plan other than those referred to in paragraph 4.

Unless prevented by an agreement, the employer may also stipulate that he will pay, in addition to the contribution referred to in subparagraph 3 of the first paragraph, an additional contribution for which he shall specify the amount or the calculation method as well as the payment method in a written notice sent to the financial institution and to each of the members on behalf of whom such additional contribution will be paid. Such additional contribution is held to be an employer contribution only for the purposes of the provisions of sections 44 to 53 of the Act that apply to the plan pursuant to section 8 of the Regulation. Moreover, such additional contribution may not be taken into account in determining whether, within the meaning of section 34 of the Act, a plan provides for benefits similar to the benefits of another plan.

O.C. 657-94, s. 1; O.C. 1151-2002, s. 9; O.C. 436-2004, s. 4.