R-15.1 - Supplemental Pension Plans Act

Section 146 Disposition versions

2016-01-01

146. The balance of the value of the benefits which, under the terms of sections 143 to 145.1, cannot be paid must be funded and paid within five years after the date of the initial payment or not later than the date on which the member concerned attains normal retirement age if that age is attained before the expiry of the five-year period, in the following cases:

(1)  the member or beneficiary does not have the option of maintaining his benefits in the pension plan;

(2)  the plan provides for the payment of the value of members’ and beneficiaries’ benefits in a proportion that is greater than the degree of solvency of the plan.

1989, c. 38, s. 146; 2006, c. 42, s. 11; 2015, c. 29, s. 26.

2010-01-01

146. The balance of the value of the benefits which, under the terms of sections 143 to 145.1, cannot be paid must be funded and paid within five years after the date of the initial payment or not later than the date on which the member concerned attains normal retirement age if that age is attained before the expiry of the five-year period.

1989, c. 38, s. 146; 2006, c. 42, s. 11.

1990-01-01

146. The balance of the value of the benefits which, under the terms of sections 142 to 145, cannot be paid must be funded and paid within five years after the date of the initial payment or not later than on the date the member concerned attains normal retirement age if he attains that age before the expiry of the five-year period.

1989, c. 38, s. 146.