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 19 Disposition versions

2020-12-11

19. The statement of benefits must include, for a member or beneficiary to whom a pension is being paid on the date of the withdrawal or termination:

(1)  the estimated value of the pension reduced to take into account insufficient assets with a statement that that value may be transferred to a pension plan referred to in section 98 of the Act;

(2)  the estimated amount of the pension reduced to take into account insufficient assets;

(3)  a statement that the pension paid by Retraite Québec has the same characteristics as the pension to which the member or beneficiary would have been entitled under the pension plan; and

(4)  the rules set out in section 38.1 and in the second paragraph of section 39 regarding the reduction of pensions paid by Retraite Québec.

O.C. 863-2010, s. 19; O.C. 426-2019, s. 9; S.Q. 2020, c. 30, s. 93.

2019-05-16

19. The statement of benefits must include, for a member or beneficiary to whom a pension is being paid on the date of the withdrawal or termination:

(1)  (paragraph revoked);

(2)  the estimated amount of the pension reduced to take into account insufficient assets;

(3)  a statement that the pension paid by Retraite Québec has the same characteristics as the pension to which the member or beneficiary would have been entitled under the pension plan; and

(4)  the rules set out in section 38.1 and in the second paragraph of section 39 regarding the reduction of pensions paid by Retraite Québec.

O.C. 863-2010, s. 19; O.C. 426-2019, s. 9.

2016-01-01

19. The statement of benefits must include, for a member or beneficiary to whom a pension is being paid on the date of the withdrawal or termination:

(1)  the estimate of the pension value reduced to take into account insufficient assets, with a mention that the value may be transferred to a life income fund in a financial institution of the member’s or beneficiary’s choice;

(2)  the estimated amount of the pension reduced to take into account insufficient assets and, if an instruction has been given in respect of the plan under section 2 of the Regulation respecting measures to reduce the effects of the financial crisis on pension plans (chapter R-15.1, r. 4) covered by the Act, the estimated amount of the pension that could be paid by Retraite Québec by taking into account the third paragraph of section 230.0.0.9 of the Act; and

(3)  a statement that the pension paid by Retraite Québec has the same characteristics as the pension to which the member or beneficiary would have been entitled under the pension plan.

O.C. 863-2010, s. 19.

2012-09-01

19. The statement of benefits must include, for a member or beneficiary to whom a pension is being paid on the date of the withdrawal or termination:

(1)  the estimate of the pension value reduced to take into account insufficient assets, with a mention that the value may be transferred to a life income fund in a financial institution of the member’s or beneficiary’s choice;

(2)  the estimated amount of the pension reduced to take into account insufficient assets and, if an instruction has been given in respect of the plan under section 2 of the Regulation respecting measures to reduce the effects of the financial crisis on pension plans (chapter R-15.1, r. 4) covered by the Act, the estimated amount of the pension that could be paid by the Régie by taking into account the third paragraph of section 230.0.0.9 of the Act; and

(3)  a statement that the pension paid by the Régie has the same characteristics as the pension to which the member or beneficiary would have been entitled under the pension plan.

O.C. 863-2010, s. 19.