R-15.1 - Supplemental Pension Plans Act

Section 304 Disposition versions

2001-01-01

304. (Repealed).

1989, c. 38, s. 304; 1999, c. 40, s. 254; 2000, c. 41, s. 188.

1999-10-22

304. Notwithstanding section 98, no member of an insured plan effective on 2 June 1989 is entitled to the transfer of contributions paid in respect of service credited under the plan before 1 January 1990 or to interest, or to the transfer of the amount representing the value of the pension benefits to which he is entitled in respect of such service where the following requirements are met:

(1)  the plan gives entitlement to a deferred pension in respect of the aforementioned service for all members who remain active members on 1 January 1990 and for all members who ceased to be active members from 2 June 1989 to 1 January 1990;

(2)  the deferred pension has been, in respect of each member referred to in paragraph 1, the subject of a contract entered into with an insurer who, besides guaranteeing the pension and, where the plan so provides, benefits for the member’s beneficiaries or successors, has undertaken to pay to them any other benefits, such as rebates, that he would otherwise have been required to pay to the employer after 2 June 1989.

1989, c. 38, s. 304; 1999, c. 40, s. 254.

1990-01-01

304. Notwithstanding section 98, no member of an insured plan effective on 2 June 1989 is entitled to the transfer of contributions paid in respect of service credited under the plan before 1 January 1990 or to interest, or to the transfer of the amount representing the value of the pension benefits to which he is entitled in respect of such service where the following requirements are met:

(1)  the plan gives entitlement to a deferred pension in respect of the aforementioned service for all members who remain active members on 1 January 1990 and for all members who ceased to be active members from 2 June 1989 to 1 January 1990;

(2)  the deferred pension has been, in respect of each member referred to in paragraph 1, the subject of a contract entered into with an insurer who, besides guaranteeing the pension and, where the plan so provides, benefits for the member’s beneficiaries or assigns, has undertaken to pay to them any other benefits, such as rebates, that he would otherwise have been required to pay to the employer after 2 June 1989.

1989, c. 38, s. 304.