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 41 Disposition versions

2019-05-16

41. Within 120 days after the date on which Retraite Québec has the pensions it pays guaranteed by an insurer, Retraite Québec must produce a report on the settlement of the benefits of the members and beneficiaries referred to in section 230.0.0.4 of the Act. The settlement report must contain:

(1)  the date on which the annuities were purchased;

(2)  the name of the insurer from whom they were purchased;

(3)  the premium charged by the insurer to guarantee the pensions;

(4)  the amount of the plan’s administration costs imputed to the pension fund;

(5)  the amount of the assets administered by Retraite Québec at the date on which it had the pensions guaranteed;

(6)  if applicable, the amount by which the assets, after deduction of the administration costs paid by the pension fund, exceed the premium charged by the insurer;

(7)  in the case of a plan referred to in section 318.7 of the Act, if there are insufficient assets to have the pensions guaranteed, the amounts required from the Government for that purpose pursuant to section 230.0.0.10 of the Act as it read on 31 December 2015;

(7.1)  where the assets are insufficient, to have the pensions paid by Retraite Québec guaranteed, the amount by which the assets, after deducting the administration costs, are less than the liabilities at the date on which Retraite Québec has the pensions guaranteed as well as the proportion by which the pensions of the members and beneficiaries were reduced pursuant to the second paragraph of section 39;

(8)  the name of each member or beneficiary affected by the purchase of annuities, the amount of the annuity purchased and, if applicable, the amount of the reduction or the increase in the pension as well as, where applicable, the amount of any lump-sum refund that was granted;

(9)  the name, address and professional title of the author of the report and the date of signing; and

(10)  certification by the author of the report that the report was prepared in conformity with the provisions of the Act and of this Regulation.

O.C. 863-2010, s. 41; O.C. 426-2019, s. 24.

2016-01-01

41. Within 45 days after the date on which Retraite Québec has the pensions it pays guaranteed by an insurer, Retraite Québec must produce a report on the settlement of the benefits of the members and beneficiaries referred to in section 230.0.0.4 of the Act. The settlement report must contain:

(1)  the date on which the annuities were purchased;

(2)  the name of the insurer from whom they were purchased;

(3)  the premium charged by the insurer to guarantee the pensions;

(4)  the amount of the plan’s administration costs imputed to the pension fund;

(5)  the amount of the assets administered by Retraite Québec at the date on which it had the pensions guaranteed;

(6)  if applicable, the amount by which the assets, after deduction of the administration costs paid by the pension fund, exceed the premium charged by the insurer;

(7)  if the assets are insufficient to have the pensions guaranteed, the amounts required from the Government for that purpose pursuant to section 230.0.0.10 of the Act;

(8)  the name of each member or beneficiary affected by the purchase of an annuity, the amount of the annuity purchased and, if applicable, the amount of any lump-sum refund that was granted;

(9)  the name, address and professional title of the author of the report and the date of signing; and

(10)  certification by the author of the report that the report was prepared in conformity with the provisions of the Act and of this Regulation.

O.C. 863-2010, s. 41.

2012-09-01

41. Within 45 days after the date on which the Régie has the pensions it pays guaranteed by an insurer, the Régie must produce a report on the settlement of the benefits of the members and beneficiaries referred to in section 230.0.0.4 of the Act. The settlement report must contain:

(1)  the date on which the annuities were purchased;

(2)  the name of the insurer from whom they were purchased;

(3)  the premium charged by the insurer to guarantee the pensions;

(4)  the amount of the plan’s administration costs imputed to the pension fund;

(5)  the amount of the assets administered by the Régie at the date on which it had the pensions guaranteed;

(6)  if applicable, the amount by which the assets, after deduction of the administration costs paid by the pension fund, exceed the premium charged by the insurer;

(7)  if the assets are insufficient to have the pensions guaranteed, the amounts required from the Government for that purpose pursuant to section 230.0.0.10 of the Act;

(8)  the name of each member or beneficiary affected by the purchase of an annuity, the amount of the annuity purchased and, if applicable, the amount of any lump-sum refund that was granted;

(9)  the name, address and professional title of the author of the report and the date of signing; and

(10)  certification by the author of the report that the report was prepared in conformity with the provisions of the Act and of this Regulation.

O.C. 863-2010, s. 41.