R-15.1 - Supplemental Pension Plans Act

Section 146.3 Disposition versions

2016-01-01

146.3. The members and beneficiaries must be informed and consulted before any amendment to the plan under section 146.2.

2000, c. 41, s. 84; 2006, c. 42, s. 13; 2015, c. 29, s. 27.

2010-01-01

146.3. The surplus assets of a pension plan may only be appropriated to the payment of the value of the additional obligations arising from an amendment to the plan in a manner that is equitable for both the group of active members and the group of non-active members and beneficiaries. Anyone amending the plan must make sure this requirement is satisfied.

For the purposes of the first paragraph, the amount appropriated to the payment of the value of the additional obligations arising from an amendment to the plan is determined on a funding basis.

In order to ensure equitable treatment, the main elements to be taken into consideration are the evolution of the pension plan, any amendments made to it and the circumstances in which those amendments were made, the origin of the surplus assets concerned, the use made in the past of any surplus assets, the characteristics of the benefits provided for under the plan and the characteristics of the pensions being paid out.

2000, c. 41, s. 84; 2006, c. 42, s. 13.

2001-01-01

146.3. The appropriation of surplus assets to the payment of employer contributions must cease on the date of any actuarial valuation showing that there are no surplus assets or that surplus assets are below the levels required for the purposes of section 146.2.

2000, c. 41, s. 84.