R-15.1 - Supplemental Pension Plans Act

Section 319.6 Disposition versions

2015-04-02

319.6. A pension plan subject to Chapter X.2 must be amended to allow for the withdrawal from the plan of any employer that no longer has active members in its employ on 31 December 2014. The date of withdrawal must be 31 December 2014.

The benefits accrued to the members or beneficiaries affected by the withdrawal must, not later than 2 April 2016, be paid in accordance with the first paragraph of section 146.41.

The value of the members’ or beneficiaries’ benefits shall be established as at 31 December 2014.

The members or beneficiaries referred to in the second paragraph may request that their benefits be maintained in the plan.

The pension committee must inform the members or beneficiaries of the measures set out in this section so as to give them at least three months to exercise their rights. The notice must mention that the benefits of members and beneficiaries who remain with the plan might later be reduced.

This section only applies, with respect to an employer all of whose employees covered by the plan are hired on an ad hoc, fixed term basis, if, on 31 December 2014, at least 12 months have elapsed since the employer ceased to have active members in its employ.

2015, c. 7, s. 3.