R-15.1, r. 3 - Regulation to provide a framework for settlement of the benefits of members and beneficiaries of plans covered by subdivision 4.0.1 of Division II of Chapter XIII of the Supplemental Pension Plans Act and for administration by Retraite Québec of certain pensions paid out of the assets of the plans

Section 39 Disposition versions

2019-05-16

39. If, at the time Retraite Québec has all the pensions it pays guaranteed by an insurer in accordance with section 230.0.0.9 of the Act, the assets of the plan it administers, determined on a solvency basis and reduced by the amount of the administration expenses of the pension fund, exceed the liabilities, the excess amount must be used to increase, up to the total value of their benefits, the pensions being paid by Retraite Québec to the members and beneficiaries on the date of purchase of the guarantee, proportionately to the value of the portion of their benefits that is administered by Retraite Québec. The pension so increased is determined on the basis of the premium charged by the insurer.

If the liabilities exceed the assets reduced by the amount of the administration expenses of the pension fund, the pensions being paid to the members and beneficiaries by Retraite Québec on the date of the purchase must be reduced in proportion to the value of the portion of their benefits that is administered by Retraite Québec. The pension thus reduced is established determined on the basis of the premium charged by the insurer.

O.C. 863-2010, s. 39; O.C. 426-2019, s. 22.

2016-01-01

39. If, at the time Retraite Québec has all the pensions it pays guaranteed by an insurer in accordance with section 230.0.0.9 of the Act, the assets of the plan it administers, determined on a solvency basis and reduced by the amount of the administration expenses of the pension fund, exceed the liabilities, the excess amount must be used to increase, up to the total value of their benefits, the pensions being paid by Retraite Québec to the members and beneficiaries on the date of purchase of the guarantee, proportionately to the value of the portion of their benefits that is administered by Retraite Québec. The pension so increased is determined on the basis of the premium charged by the insurer.

O.C. 863-2010, s. 39.

2012-09-01

39. If, at the time the Régie has all the pensions it pays guaranteed by an insurer in accordance with section 230.0.0.9 of the Act, the assets of the plan it administers, determined on a solvency basis and reduced by the amount of the administration expenses of the pension fund, exceed the liabilities, the excess amount must be used to increase, up to the total value of their benefits, the pensions being paid by the Régie to the members and beneficiaries on the date of purchase of the guarantee, proportionately to the value of the portion of their benefits that is administered by the Régie. The pension so increased is determined on the basis of the premium charged by the insurer.

O.C. 863-2010, s. 39.