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 7 Disposition versions

2016-01-01

7. A terminated pension plan is exempted from the application of the provisions of chapter XIV.1 of the Act where the following conditions are met:

(1)  the employer party to the plan is deemed, pursuant to the second paragraph of section 230.7 of the Act, to have renounced any entitlement in the plan’s surplus assets;

(2)  the plan’s members and beneficiaries have agreed in writing on the method to be used to allocate among themselves the plan’s entire surplus assets and to adjust the share of each of them in the event that there is any variation in such surplus or in the total value of their benefits between the date of termination and the date of payment.

In such case:

(1)  the agreement reached by the members and beneficiaries has the same value and effect as an agreement reached in accordance with section 230.6 of the Act;

(2)  the pension committee shall send to Retraite Québec, no more than 30 days after receipt of the agreement referred to in paragraph 1:

(a)  a copy of the agreement;

(b)  a certificate confirming that all the members and beneficiaries of the plan, including those who conserve that status pursuant to sections 240.2, 308.3 and 310.1 of the Act, have consented to the agreement and that it can submit their consent to Retraite Québec on demand;

(c)  a supplement to the termination report in conformity with the provisions of section 207.5 of the Act.

O.C. 1160-90, s. 7; O.C. 1893-93, s. 1; O.C. 1151-2002, s. 6.

2012-09-01

7. A terminated pension plan is exempted from the application of the provisions of chapter XIV.1 of the Act where the following conditions are met:

(1)  the employer party to the plan is deemed, pursuant to the second paragraph of section 230.7 of the Act, to have renounced any entitlement in the plan’s surplus assets;

(2)  the plan’s members and beneficiaries have agreed in writing on the method to be used to allocate among themselves the plan’s entire surplus assets and to adjust the share of each of them in the event that there is any variation in such surplus or in the total value of their benefits between the date of termination and the date of payment.

In such case:

(1)  the agreement reached by the members and beneficiaries has the same value and effect as an agreement reached in accordance with section 230.6 of the Act;

(2)  the pension committee shall send to the Régie des rentes du Québec, no more than 30 days after receipt of the agreement referred to in paragraph 1:

(a)  a copy of the agreement;

(b)  a certificate confirming that all the members and beneficiaries of the plan, including those who conserve that status pursuant to sections 240.2, 308.3 and 310.1 of the Act, have consented to the agreement and that it can submit their consent to the Régie on demand;

(c)  a supplement to the termination report in conformity with the provisions of section 207.5 of the Act.

O.C. 1160-90, s. 7; O.C. 1893-93, s. 1; O.C. 1151-2002, s. 6.