R-15.1, r. 3 - Regulation to provide a framework for settlement of the benefits of members and beneficiaries of plans covered by subdivision 4.0.1 of Division II of Chapter XIII of the Supplemental Pension Plans Act and for administration by Retraite Québec of certain pensions paid out of the assets of the plans

Section 16 Disposition versions

2020-12-11

16. For an employer withdrawal, the statement of benefits must state

(1)  the ratio between the value of the assets reduced by the amount of the administration expenses of the pension fund allocated to the group of members and beneficiaries affected by the withdrawal and the value of the liabilities related to that group established as at the date of the withdrawal;

(2)  the portion of the assets that is allocated to the group of members and beneficiaries affected by the withdrawal along with the amount of the reduction in benefits that the member or beneficiary would sustain if the employer’s debt and the unpaid contributions were not collected;

(3)  the information required by paragraph 2 of section 200 of the Act regarding the effect of full payment of a member’s or beneficiary’s benefits;

(4)  the choices provided for in paragraph 3 or 4 of section 200 of the Act that apply to the member or beneficiary including, for each member or beneficiary to whom a pension is being paid on the date of the withdrawal, that, in accordance with section 230.0.0.3 of the Act, he or she may request to have his or her benefits transferred to a pension plan referred to in section 98 of the Act, or to have his or her pension paid out of the assets administered by Retraite Québec under section 230.0.0.4 of the Act;

(5)  the expiry date of the time, set out in the second paragraph of section 15, within which the members or beneficiaries must indicate their choices, exercise their options and present observations, if any, to the pension committee;

(5.1)  the mention that, where the member or beneficiary to whom a pension is being paid on the date of the withdrawal fails to request to have his or her benefits transferred to a pension plan referred to in section 98 of the Act, or to have his or her pension paid out of the assets administered by Retraite Québec within the time allotted under the second paragraph of section 15, his or her benefits will be paid by an insurer according to the conditions prescribed by regulation and chosen by the pension committee;

(6)  the information referred to in paragraphs 3 to 9 and 10 of section 58 of the Regulation respecting supplemental pension plans (chapter R-15.1, r. 6), prepared or updated to the withdrawal date; and

(7)  the information required by subparagraphs 10 and 11 of the first paragraph of section 62 of the Regulation respecting supplemental pension plans, prepared with respect to the withdrawing employer.

The statement must also state that the withdrawal report and the data used to determine the member’s or beneficiary’s benefits or their value may be consulted without charge at the office of the pension committee or at the employer’s establishment designated by the committee, whichever location is closer to the applicant’s residence.

O.C. 863-2010, s. 16; O.C. 426-2019, s. 6; S.Q. 2020, c. 30, s. 91.

2019-05-16

16. For an employer withdrawal, the statement of benefits must state

(1)  the ratio between the value of the assets reduced by the amount of the administration expenses of the pension fund allocated to the group of members and beneficiaries affected by the withdrawal and the value of the liabilities related to that group established as at the date of the withdrawal;

(2)  the portion of the assets that is allocated to the group of members and beneficiaries affected by the withdrawal along with the amount of the reduction in benefits that the member or beneficiary would sustain if the employer’s debt and the unpaid contributions were not collected;

(3)  the information required by paragraph 2 of section 200 of the Act regarding the effect of full payment of a member’s or beneficiary’s benefits;

(4)  the choices provided for in paragraph 3 or 4 of section 200 of the Act that apply to the member or beneficiary including, for each member or beneficiary to whom a pension is being paid on the date of the withdrawal, that, in accordance with section 230.0.0.3 of the Act, he or she may request that his or her pension be paid out of the assets administered by Retraite Québec under section 230.0.0.4 of the Act;

(5)  the expiry date of the time, set out in the second paragraph of section 15, within which the members or beneficiaries must indicate their choices, exercise their options and present observations, if any, to the pension committee;

(5.1)  the mention that, where the member or beneficiary to whom a pension is being paid on the date of the withdrawal fails to request that his or her pension be paid out of the assets administered by Retraite Québec within the time allotted under the second paragraph of section 15, his or her benefits will be paid by an insurer according to the conditions prescribed by regulation and chosen by the pension committee;

(6)  the information referred to in paragraphs 3 to 9 and 10 of section 58 of the Regulation respecting supplemental pension plans (chapter R-15.1, r. 6), prepared or updated to the withdrawal date; and

(7)  the information required by subparagraphs 10 and 11 of the first paragraph of section 62 of the Regulation respecting supplemental pension plans, prepared with respect to the withdrawing employer.

The statement must also state that the withdrawal report and the data used to determine the member’s or beneficiary’s benefits or their value may be consulted without charge at the office of the pension committee or at the employer’s establishment designated by the committee, whichever location is closer to the applicant’s residence.

O.C. 863-2010, s. 16; O.C. 426-2019, s. 6.

2012-09-01

16. For an employer withdrawal, the statement of benefits must state

(1)  the degree of solvency of the plan at the date of the withdrawal;

(2)  the portion of the assets that is allocated to the group of members and beneficiaries affected by the withdrawal along with the amount of the reduction in benefits that the member or beneficiary would sustain if the employer’s debt and the unpaid contributions were not collected;

(3)  the information required by paragraph 2 of section 200 of the Act regarding the effect of full payment of a member’s or beneficiary’s benefits;

(4)  the choices provided for in paragraph 3 or 4 of section 200 of the Act that apply to the member or beneficiary including, for each member or beneficiary to whom section 230.0.0.2 or 230.0.0.3 of the Act applies, the methods of payment provided for in the section that applies to the member or beneficiary;

(5)  the expiry date of the time, set out in the second paragraph of section 15, within which the members or beneficiaries must indicate their choices, exercise their options and present observations, if any, to the pension committee;

(6)  the information referred to in paragraphs 3 to 10 of section 58 of the Regulation respecting supplemental pension plans (chapter R-15.1, r. 6), prepared or updated to the withdrawal date; and

(7)  the information required by subparagraphs 10 and 11 of the first paragraph of section 62 of the Regulation respecting supplemental pension plans, prepared with respect to the withdrawing employer.

The statement must also state that the withdrawal report and the data used to determine the member’s or beneficiary’s benefits or their value may be consulted without charge at the office of the pension committee or at the employer’s establishment designated by the committee, whichever location is closer to the applicant’s residence.

O.C. 863-2010, s. 16.