R-15.1 - Supplemental Pension Plans Act

Section 207.3 Disposition versions

2001-01-01

207.3. The pension committee shall transmit to each member and beneficiary affected a copy of the termination declaration, a statement of benefits and of the value thereof, together with the following information:

(1)  the various methods for full payment of benefits, including, where applicable, an indication of the pension fund to which benefits could be transferred, and the other options available to the member or beneficiary;

(2)  the procedure for choosing a method, including, where applicable, that applicable to a share of the surplus assets;

(3)  the indication that the termination report and the data used to establish the benefits and the value thereof can be consulted, free of charge, either at the office of the pension committee or at the employer’s establishment designated by the committee, whichever is closer to the applicant’s residence;

(4)  the indication that the member or beneficiary must make choices and exercise options among those referred to in subparagraphs 1 and 2 before the expiry of the time limit set out in the first paragraph of section 207.2 and may present written observations to the pension committee; and

(5)  any other information determined by regulation.

The committee must transmit the statements in a timely manner so as to allow the members and beneficiaries at least 10 days to make choices, exercise options and present observations to the pension committee pursuant to subparagraph 4 of the first paragraph.

2000, c. 41, s. 114.