R-15.1, r. 6 - Regulation respecting supplemental pension plans

Section 56.1 Disposition versions

2022-04-14

56.1. The summary of the pension plan provided for in section 111 of the Act must contain, in addition to the information provided for in that section, the following information:

(1)  the index or rate provided for in the plan for indexation of the pension before and during its payment;

(2)  the rules applicable to the transfer of the member’s benefits to another pension plan;

(3)  the plans referred to by any general agreement allowing the member’s benefits or assets to be transferred to them;

(4)  the nature of the fees that may be charged to the member;

(5)  the rules that apply where members decide investments that may be made with the plan’s assets;

(6)  in the case of a plan to which Chapter X of the Act applies, except for a target-benefit plan, a mention that for members who cease to be active members, only those whose benefits are not paid before the plan’s termination or who cease to be active members less than 3 years prior to that date remain members for the purposes of the eventual allocation of surplus assets upon the plan’s termination.

The summary of a target-benefit plan must also contain the following information:

(1)  a description of what is a target-benefit plan, including the fact that the benefits can be reduced in the event of insufficient contributions;

(2)  a description of the risks incurred by the members and beneficiaries and the means taken to manage those risks.

O.C. 173-2002, s. 48; O.C. 308-2022, s. 38.

2012-09-01

56.1. The summary of the pension plan provided for in section 111 of the Act must contain, in addition to the information provided for in that section, the following information:

(1)  the index or rate provided for in the plan for indexation of the pension before and during its payment;

(2)  the rules applicable to the transfer of the member’s benefits to another pension plan;

(3)  the plans referred to by any general agreement allowing the member’s benefits or assets to be transferred to them;

(4)  the nature of the fees that may be charged to the member;

(5)  the rules that apply where members decide investments that may be made with the plan’s assets;

(6)  in the case of a plan to which chapter X of the Act applies, a mention that for members who cease to be active members, only those whose benefits are not paid before the plan’s termination or who cease to be active members less than 3 years prior to that date remain members for the purposes of the eventual allocation of surplus assets upon the plan’s termination.

O.C. 173-2002, s. 48.