R-17 - Act respecting supplemental pension plans

Section 9.1 Disposition versions

1990-01-01

9.1. From 15 November 1988, no amendment with respect to the employer’s or the members’ entitlement to any part of the assets of the retirement fund which exceeds the pension credits of the members may be made to a registered plan; the prohibition shall not have the effect of preventing a plan amendment to allocate the balance of assets remaining in the retirement fund to the payment of contributions.

The Board’s approval of a plan amendment whereby the assets of the retirement fund are distributed among several plans may be subject to such conditions as the Board may consider fair for the membership as a whole, if a previous amendment to the plan approved by the Board after 15 November 1988, resulted, through an increase in pension credits, in favouring certain members.

The Board shall refuse to approve any amendment to any plan if it is of the opinion that the amendment would cause the assets of the retirement fund to be distributed otherwise than pro rata to the pension credits of the members, among several plans to which the same employer is or will be contributing.

The prohibition provided for in the first paragraph shall entail the nullity of any amendment made prior to 15 November 1988 and which has not, as of that date, been approved by the Board.

1988, c. 79, s. 1; 1989, c. 38, s. 283.

1988-12-23

9.1. From 15 November 1988, no amendment with respect to the employer’s or the members’ entitlement to any part of the assets of the retirement fund which exceeds the pension credits of the members may be made to a registered plan; the prohibition shall not have the effect of preventing a plan amendment to allocate the balance of assets remaining in the retirement fund to the payment of contributions.

The Board’s approval of a plan amendment whereby the assets of the retirement fund are distributed among several plans may be subject to such conditions as the Board may consider fair for the membership as a whole, if a previous amendment to the plan approved by the Board after 15 November 1988, resulted, through an increase in pension credits, in favouring certain members.

The Board shall refuse to approve any amendment to any plan if it is of the opinion that the amendment would cause the assets of the retirement fund to be distributed otherwise than pro rata to the pension credits of the members, among several plans to which the same employer is or will be contributing.

The prohibition provided for in the first paragraph shall entail the nullity of any amendment made prior to 15 November 1988 and which has not, as of that date, been approved by the Board.

This section shall cease to have effect on the date fixed by the Government, or on 1 January 1990 at the latest, unless, before that date, the Government extends its effect for a period that it indicates.

1988, c. 79, s. 1.