R-15.1 - Supplemental Pension Plans Act

Section 319.9 Disposition versions

2015-04-02

319.9. On the withdrawal of an employer that is a party to a pension plan subject to Chapter X.2 or on the termination of such a plan before 2 April 2020, the following rules apply:

(1)  any reduction after 31 December 2014 of benefits accrued to members or beneficiaries shall be annulled;

(2)  the debt of each employer concerned by the withdrawal or termination shall be established as if Chapter X.2 and section 319.4 did not apply; and

(3)  any such employer debt extinguished under section 319.3 shall become payable once again.

The first paragraph does not apply, however, if the employer’s withdrawal from the pension plan or the termination of the pension plan results from the impossibility of adopting a recovery plan, the alienation or closing down of all or part of the enterprise, the insolvency of the employer or a change in union affiliation.

2015, c. 7, s. 3.