R-15.1, r. 1.2 - Regulation respecting the funding of multi-jurisdictional defined benefit pension plans

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13. Where an actuarial valuation after 30 December 2018 shows that the degree of solvency of a pension plan referred to in section 12 is less than 75%, a solvency deficiency must be determined at the date of the actuarial valuation.
The solvency deficiency corresponds, at the date of the actuarial valuation referred to in the first paragraph, to the amount by which 75% of the pension plan’s liabilities on a solvency basis exceeds the plan’s assets increased by the current value of amortization payments provided for at the date of the actuarial valuation to amortize, in the 10 years following that date, any funding deficiency; the interest rate used to establish the value is the same as the one used to establish the plan’s liabilities on a solvency basis.
For the purposes of the second paragraph, the plan’s liabilities include the value of the additional obligations arising from any amendment to the plan considered for the first time at the date of the actuarial valuation, calculated on the assumption that the effective date of the amendment is the date of the actuarial valuation.
374-2019O.C. 374-2019, s. 13.
In force: 2019-04-25
13. Where an actuarial valuation after 30 December 2018 shows that the degree of solvency of a pension plan referred to in section 12 is less than 75%, a solvency deficiency must be determined at the date of the actuarial valuation.
The solvency deficiency corresponds, at the date of the actuarial valuation referred to in the first paragraph, to the amount by which 75% of the pension plan’s liabilities on a solvency basis exceeds the plan’s assets increased by the current value of amortization payments provided for at the date of the actuarial valuation to amortize, in the 10 years following that date, any funding deficiency; the interest rate used to establish the value is the same as the one used to establish the plan’s liabilities on a solvency basis.
For the purposes of the second paragraph, the plan’s liabilities include the value of the additional obligations arising from any amendment to the plan considered for the first time at the date of the actuarial valuation, calculated on the assumption that the effective date of the amendment is the date of the actuarial valuation.
374-2019O.C. 374-2019, s. 13.