Consolidated Statutes and Regulations
Consolidated Statutes
Consolidated Regulations
Annual Statutes and Regulations
Annual Statutes
Annual Regulations
Additional information
Québec Official Publisher
What’s new?
Information note
Policy of the Minister of Justice
Laws: Amendments
Laws: Provisions not in force
Laws: Provisions brought into force
Annual Statutes: PDF versions since 1996
Regulations: Amendments
Annual Regulations: PDF versions since 1996
Court Decisions
R-15.1 - Supplemental Pension Plans Act
Section 42.1
Disposition versions
42.1. Under the conditions prescribed by regulation, an employer may, on providing the pension committee with a letter of credit established in accordance with the regulation, be relieved of paying all or part of the portion of the employer contribution determined for the current fiscal year of the pension plan in respect of the stabilization amortization payment payable during the year.
The total amount of such letters of credit may not exceed 15% of the liabilities of the plan, determined on a funding basis.
42.1. Under the conditions prescribed by regulation, an employer may, upon providing the pension committee with a letter of credit established in accordance with the regulations, be relieved of paying the portion of the employer contribution that relates to an amortization payment in relation to a solvency deficiency or a special amortization payment, up to the total of the amortization payments determined for the current fiscal year of the pension plan in respect of the solvency deficiencies and the special amortization payments payable during the year.
42.1. Under the conditions prescribed by regulation, an employer may, upon providing the pension committee with a letter of credit established in accordance with the regulations, be relieved of paying the portion of the employer contribution that relates to an amortization payment in relation to a solvency deficiency or a special amortization payment, up to the total of the amortization payments determined for the current fiscal year of the pension plan in respect of the solvency deficiencies and the special amortization payments payable during the year.
However, employers who are parties to a multi-employer pension plan may not avail themselves of the provisions of the first paragraph.
