R-15.1 - Supplemental Pension Plans Act

Full text
2.1. This Act, except sections 6, 64 and 107, the first paragraph of section 110 and section 171.1, which apply with the necessary modifications, does not apply to a pension plan if
(1)  all the members of the pension plan are persons connected with the employer within the meaning of subsection 3 of section 8500 of the Income Tax Regulations (Consolidated Regulations of Canada, 1978, chapter 945) and membership in the plan is optional and is restricted to those persons;
(2)  only employees described in section 1 may become members of the pension plan; and
(3)  active membership in the plan ceases when the member ceases to be a person connected with the employer
Moreover, such a pension plan is deemed, for the purposes of section 98, not to be a pension plan governed by this Act.
A pension plan to which the first paragraph applies becomes subject to this Act upon being amended to allow other persons to become members.
2000, c. 41, s. 2.