R-15.1 - Supplemental Pension Plans Act

Section 125 Disposition versions

2016-01-01

125. Every pension plan must provide for the establishment of a stabilization provision whose target level is determined in the manner prescribed by regulation, in particular by using a scale that is to be applied according to certain criteria, including the target set out in the plan’s investment policy in effect at the date of each actuarial valuation required under section 118.

1989, c. 38, s. 125; 2006, c. 42, s. 11; 2015, c. 29, s. 24.

2010-01-01

125. The liabilities of a pension plan under which refunds or benefits are guaranteed by an insurer must, for the purpose of determining the plan’s solvency, include the value corresponding to those benefits, and the plan’s assets must include an amount equal to that value.

1989, c. 38, s. 125; 2006, c. 42, s. 11.

1990-01-01

125. The value of the obligations referred to in section 123 or 124, which, under the plan, are to increase according, in particular, to the progression of the members’ remuneration, shall include the estimated amount of the obligations when they become payable, assuming that contingencies based on actuarial assumptions as to survival, morbidity, mortality, employee turnover, eligibility for benefits or other factors will occur.

Furthermore, any pension benefit increase provided by the plan which becomes effective after the benefits begin to be paid shall be taken into account in determining the value of the plan’s obligations.

1989, c. 38, s. 125.