R-15.1 - Supplemental Pension Plans Act

Section 311.1 Disposition versions

2001-01-01

311.1. The provisions of subdivision 4.1 of Division II of Chapter XIII also apply to the apportionment of the surplus assets of any pension plan in force on 1 January 1993, except where that surplus is the subject of

(1)  legal proceedings pending on 14 May 1992;

(2)  an apportionment proposed in a draft termination report which grants all the surplus to the members and beneficiaries, if one of the following conditions is met:

 — the Régie has, before 14 May 1992, considered the draft report to be in conformity with this Act, and the pension committee has, before that date, sent a statement of benefits to the members and beneficiaries or, where it has neglected to do so, provided that the time limit for doing so expires before that date;

 — the draft termination report has been sent to the Régie before 1 January 1993, and the employer has consented in writing to such an apportionment; the apportionment must also be in conformity with the law applicable before the above date;

(3)  an apportionment provided for in an agreement made before 1 January 1993, pursuant to subparagraph 2 of the first paragraph of section 43 of the Act respecting supplemental pension plans (chapter R-17), provided, however,

 — that the Régie has been informed of the agreement before that date and that it has subsequently judged that the apportionment is fair for all the members affected by the termination and the information pertaining thereto to be given to them is adequate;

 — that the members have been informed of the agreement before the expiry of the sixth month following the decision of the Régie on the apportionment provided for therein;

 — that less than 30% of the members have, within 60 days after the date on which they were informed of the agreement, informed the Régie, in writing, of their opposition thereto.

Where the conditions prescribed by this paragraph are satisfied, the agreement is binding on the parties and on every member who has rights under plan. The same has always applied to any such agreement when the conditions prescribed in subparagraphs a and b of paragraph 2 of section 43 of the Act respecting supplemental pension plans have been satisfied;

(4)  an order made by the Government under section 43.1 of the Act respecting supplemental pension plans has authorized payment to the employer of all or part of the surplus assets.

Where the surplus assets to be apportioned in accordance with the provisions of subdivision 4.1 of Division II of Chapter XIII result from a terminated pension plan which continues to be governed by the Act respecting supplemental pension plans pursuant to section 286, the Régie may require, as a condition for approval of the report relating to the termination, that it be provided, in the conditions and within the period it fixes, with any information or document in addition to the said report and relating to the apportionment of such surplus assets.

1992, c. 60, s. 56; 2000, c. 41, s. 197.

1999-04-01

311.1. The provisions of subdivision 4.1 of Division II of Chapter XIII and of section 311.3 also apply to the apportionment of the surplus assets of any pension plan in force on 1 January 1993, except where that surplus is the subject of

(1)  legal proceedings pending on 14 May 1992;

(2)  an apportionment proposed in a draft termination report which grants all the surplus to the members and beneficiaries, if one of the following conditions is met:

 — the Régie has, before 14 May 1992, considered the draft report to be in conformity with this Act, and the pension committee has, before that date, sent the statement required by section 203 to the members and beneficiaries or, where it has neglected to do so, provided that the time limit for doing so expires before that date;

 — the draft termination report has been sent to the Régie before 1 January 1993, and the employer has consented in writing to such an apportionment; the apportionment must also be in conformity with the law applicable before the above date;

(3)  an apportionment provided for in an agreement made before 1 January 1993, pursuant to subparagraph 2 of the first paragraph of section 43 of the Act respecting supplemental pension plans (chapter R-17), provided, however,

 — that the Régie has been informed of the agreement before that date and that it has subsequently judged that the apportionment is fair for all the members affected by the termination and the information pertaining thereto to be given to them is adequate;

 — that the members have been informed of the agreement before the expiry of the sixth month following the decision of the Régie on the apportionment provided for therein;

 — that less than 30 % of the members have, within 60 days after the date on which they were informed of the agreement, informed the Régie, in writing, of their opposition thereto.

Where the conditions prescribed by this paragraph are satisfied, the agreement is binding on the parties and on every member who has rights under plan. The same has always applied to any such agreement when the conditions prescribed in subparagraphs a and b of paragraph 2 of section 43 of the Act respecting supplemental pension plans have been satisfied;

(4)  an order made by the Government under section 43.1 of the Act respecting supplemental pension plans has authorized payment to the employer of all or part of the surplus assets.

Where the surplus assets to be apportioned in accordance with the provisions of subdivision 4.1 of Division II of Chapter XIII or of section 311.3 result from a totally terminated pension plan which continues to be governed by the Act respecting supplemental pension plans pursuant to section 286, the Régie may require, as a condition for approval of the report relating to the termination, that it be provided, in the conditions and within the period it fixes, with any information or document in addition to the said report and relating to the apportionment of such surplus assets.

1992, c. 60, s. 56.