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 40 Disposition versions

2019-05-16

40. As soon as Retraite Québec has had the pensions it pays guaranteed by an insurer, it must inform each member or beneficiary of the name and contact information of the insurer from the annuity for such member or beneficiary was purchased.

The notice must state the amount of the annuity purchased and provide the following information:

(1)  the amount by which the assets, after deducting the administration costs, exceeds or is less than the liabilities on the date on which Retraite Québec has the pension guaranteed;

(2)  where an increase has been granted on the date on which Retraite Québec has the pension guaranteed, the amount of the assets attributed to the member or beneficiary in proportion to the value of his or her benefits, as well as the amount of the increase in his or her pension at the date on which payment by the insurer begins and, if applicable, the amount of any lump-sum refund that was granted;

(3)  where the pension of the member or beneficiary is reduced pursuant to the second paragraph of section 39, the amount of the reduced pension at the date on which payment by the insurer begins;

(4)  in the case of a plan referred to in section 318.7 of the Act, a mention that the amount of the annuity purchased is at least equal to the pension paid by Retraite Québec prior to the date on which Retraite Québec had the pension guaranteed.

O.C. 863-2010, s. 40; O.C. 426-2019, s. 23.

2016-01-01

40. As soon as Retraite Québec has had the pensions it pays guaranteed by an insurer, it must inform each member or beneficiary of the name and contact information of the insurer from the annuity for such member or beneficiary was purchased.

The notice must state the amount of the purchased annuity, which is equal to the amount paid by Retraite Québec, as well as, if an increase has been granted on the date on which Retraite Québec has the pension guaranteed:

(1)  the amount by which the assets, after deduction of administration costs, exceeds the liabilities on that date; and

(2)  the amount of the assets attributed to the member or beneficiary, proportionately to the value of the benefits, and the amount of increase in his or her pension on that date and, if applicable, the amount of any lump-sum refund that was granted.

O.C. 863-2010, s. 40.

2012-09-01

40. As soon as the Régie has had the pensions it pays guaranteed by an insurer, it must inform each member or beneficiary of the name and contact information of the insurer from the annuity for such member or beneficiary was purchased.

The notice must state the amount of the purchased annuity, which is equal to the amount paid by the Régie, as well as, if an increase has been granted on the date on which the Régie has the pension guaranteed:

(1)  the amount by which the assets, after deduction of administration costs, exceeds the liabilities on that date; and

(2)  the amount of the assets attributed to the member or beneficiary, proportionately to the value of the benefits, and the amount of increase in his or her pension on that date and, if applicable, the amount of any lump-sum refund that was granted.

O.C. 863-2010, s. 40.