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R-15.1 - Supplemental Pension Plans Act
Section 232
Disposition versions
232. (Repealed).
232. If the assets determined at the date of termination are not sufficient to pay all the benefits of equal rank of the members or beneficiaries affected, payment shall be made proportionately to the value of the benefits of each member or beneficiary. In addition, where benefits of equal rank have been the cause of several unfunded actuarial liabilities of the same nature, the payment of benefits shall be made from the earliest to the most recent.
The same applies where the income and capital gain from the investment of such assets after the date of termination are not sufficient to pay all the interest referred to in section 217.
