R-15.1 - Supplemental Pension Plans Act

Section 212 Disposition versions

2001-01-01

212. The value of the benefits accrued to the members and beneficiaries affected by the withdrawal of an employer from a multi-employer pension plan or by the termination of a pension plan shall be determined at either of the following dates, on the basis of the assumptions referred to in section 61 that were used at that date to determine the value of the pension benefits to which section 60 applies that were vested at that date:

(1)  the date the member ceased to be an active member, if the benefits whose value is being determined are those accrued to

(a)  a member whose active membership ended before the withdrawal or termination and who, at the date of termination, had already opted, within the time limit set out in subparagraph 1 of the second paragraph of section 99, for the satisfaction of his or her rights under the plan or still had time to exercise such an option, or a beneficiary whose rights under the plan derive from the service credited to such a member; or

(b)  a member to whom the second paragraph of section 211 applies; or

(2)  the date of termination, if the benefits whose value is being determined are those accrued to any other member or beneficiary affected by the withdrawal or termination.

The benefits accrued to the members and beneficiaries referred to in subparagraph 1 of the first paragraph shall bear interest, from the date their value is determined to the date of termination, at the rate used for the purposes of the determination.

The first paragraph does not apply to a pension that must be insured pursuant to section 237 or to a pension referred to in paragraph 3 of section 200.

1989, c. 38, s. 212; 1994, c. 24, s. 18; 2000, c. 41, s. 121.

1994-06-17

212. The value of the benefits of members or beneficiaries affected by the termination of a pension plan shall be determined in accordance with actuarial assumptions and methods identical to those which were sent to the Régie and which, on either of the following dates, were used to determine the value of the pension benefits to which section 60 applies and to which the members or beneficiaries were entitled on that date:

(1)  on the date on which the member ceased to be an active member in case of partial termination of the plan or, in case of total termination, if the benefits whose value is to be determined are the benefits of the following members or beneficiaries:

(a)  a member who ceased to be an active member prior to total termination and who, on the date of such termination, had already elected for payment of his benefits within the time limits set out in subparagraph 1 of the second paragraph of section 99 or in section 236, or who was still within the time limit to exercise such an election, and the beneficiaries whose benefits derive from service credited to such a member;

(b)  a member to whom the second paragraph of section 211 applies;

(2)  on the date of termination, if the benefits whose value is to be determined are the benefits of any other member or beneficiary affected by the total termination of the plan.

The first paragraph does not apply to a pension that must be guaranteed by an insurer pursuant to section 237.

1989, c. 38, s. 212; 1994, c. 24, s. 18.

1990-01-01

212. Except in the case of a pension which must be guaranteed by an insurer pursuant to section 237, the value of the benefits of every member affected by the total or partial termination of the pension plan shall be determined on the basis of the same actuarial methods or assumptions.

1989, c. 38, s. 212.