R-15.1 - Supplemental Pension Plans Act

Section 143 Disposition versions

2020-12-11

143. The value of any benefit to which a member or a beneficiary becomes entitled under a pension plan and which corresponds to the following amounts must be paid in full:

(1)  additional voluntary contributions credited to the member’s account, with accrued interest;

(2)  member or employer contributions paid in respect of a member under terms in a defined benefit plan or a target benefit plan that are identical to those of a defined contribution plan, with accrued interest; and

(3)  amounts credited to a member’s account following a transfer, even a transfer other than a transfer under Chapter VII, with accrued interest.

The benefit provided for in section 67.5, the one provided for in section 69.1 and the periodic amounts payable as pension benefits must also be paid in full.

The value of any other benefit may be paid out of the pension fund only in proportion to the degree of solvency of the plan, up to 100%, applicable on the date on which the value of the member’s benefits are established. A pension plan may however provide that the 100% limit does not apply or establish a limit of more than 100%.

The degree of solvency applicable on the date referred to in the third paragraph is the most recent of the following degrees:

(1)  the degree established in the last actuarial valuation of the plan for which the report was sent to Retraite Québec before that date;

(2)  the degree established in the notice referred to in section 119.1 and sent to Retraite Québec before that date;

(3)  the degree established in the report referred to in section 202 and sent to Retraite Québec before that date; and

(4)  the degree established according to the intervals shorter than a fiscal year provided for in the plan in accordance with the rules prescribed by regulation.

1989, c. 38, s. 143; 2006, c. 42, s. 11; 2008, c. 21, s. 33; 2015, c. 20, s. 61; 2015, c. 29, s. 25; 2018, c. 2, s. 107; 2020, c. 30, s. 45.

2018-02-22

143. The value of any benefit to which a member or a beneficiary becomes entitled under a pension plan and which corresponds to the following amounts must be paid in full:

(1)  additional voluntary contributions credited to the member’s account, with accrued interest;

(2)  member or employer contributions paid in respect of a member under terms in a defined benefit plan that are identical to those of a defined contribution plan, with accrued interest; and

(3)  amounts credited to a member’s account following a transfer, even a transfer other than a transfer under Chapter VII, with accrued interest.

The benefit provided for in section 67.5, the one provided for in section 69.1 and the periodic amounts payable as pension benefits must also be paid in full.

The value of any other benefit may be paid out of the pension fund only in proportion to the degree of solvency of the plan, up to 100%, applicable on the date on which the value of the member’s benefits are established. A pension plan may however provide that the 100% limit does not apply or establish a limit of more than 100%. The degree of solvency of the plan applicable on the date referred to in the third paragraph is the one established in the last actuarial valuation for which the report was sent to Retraite Québec before that date, or the one established in the notice prescribed by section 119.1 sent to Retraite Québec before that date, if that notice is more recent.

1989, c. 38, s. 143; 2006, c. 42, s. 11; 2008, c. 21, s. 33; 2015, c. 20, s. 61; 2015, c. 29, s. 25; 2018, c. 2, s. 107.

2016-01-01

143. The value of any benefit to which a member or a beneficiary becomes entitled under a pension plan and which corresponds to the following amounts must be paid in full:

(1)  additional voluntary contributions credited to the member’s account, with accrued interest;

(2)  member or employer contributions paid in respect of a member under terms in a defined benefit plan that are identical to those of a defined contribution plan, with accrued interest; and

(3)  amounts credited to a member’s account following a transfer, even a transfer other than a transfer under Chapter VII, with accrued interest.

The benefit provided for in section 67.5, the one provided for in section 69.1 and the periodic amounts payable as pension benefits must also be paid in full.

The value of any other benefit may be paid out of the pension fund only in proportion to the degree of solvency of the plan, up to 100%, as established in the last actuarial valuation report transmitted to Retraite Québec or, if the degree of solvency is more recent, in the notice prescribed by section 119.1 sent to Retraite Québec. A pension plan may however provide that the 100% limit does not apply or establish a limit of more than 100%

1989, c. 38, s. 143; 2006, c. 42, s. 11; 2008, c. 21, s. 33; 2015, c. 20, s. 61; 2015, c. 29, s. 25.

2010-01-01

143. The value of any benefit to which a member or a beneficiary becomes entitled under a pension plan and which corresponds to the following amounts must be paid in full:

(1)  additional voluntary contributions credited to the member’s account, with accrued interest;

(2)  member or employer contributions paid in respect of a member under terms in a defined benefit plan that are identical to those of a defined contribution plan, with accrued interest; and

(3)  amounts credited to a member’s account following a transfer, even a transfer other than a transfer under Chapter VII, with accrued interest.

The benefit provided for in section 67.5, the one provided for in section 69.1 and the periodic amounts payable as pension benefits must also be paid in full.

The value of any other benefit may be paid out of the pension fund only in proportion to the degree of solvency of the plan, up to 100%, as established in the last actuarial valuation report transmitted to the Régie.

1989, c. 38, s. 143; 2006, c. 42, s. 11; 2008, c. 21, s. 33.

1990-01-01

143. The actuary responsible for preparing the report relating to an actuarial valuation of the pension plan shall determine in his report whether the payment of the benefits that are transferable under an agreement referred to in section 106 may, as a consequence, reduce the degree of solvency of the plan or, where that degree exceeds 100%, reduce it to a percentage lower than 100%.

In that case, the payment of benefits is permitted only in the proportion fixed by the actuary to avoid such consequence.

1989, c. 38, s. 143.