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R-15.1, r. 6 - Regulation respecting supplemental pension plans
Section 5
Versions
5. The report on a complete actuarial valuation shall contain the information and statements of the actuary provided for in Section 3260 of the Standards of Practice of the Canadian Institute of Actuaries, those provided for under sections 6 to 9, under sections 10 to 11.1 where applicable, and under section 11.3, as well as the following information:
(1) the number of active members, the number of non-active members to whom no pension is being paid and the number of the other non-active members and beneficiaries whose benefits are covered by the actuarial valuation apportioned, if applicable, according to whether their benefits are accumulated under defined benefit provisions or money purchase provisions within the meaning of section 965.0.1 of the Taxation Act (chapter I-3), or under both types of provisions;
(2) a summary of the provisions of the plan that must be taken into account for the purposes of the valuation, including those bearing on contributions, normal retirement age, conditions to be met to be entitled to an early retirement pension, the pension indexation formula, assumptions used in accordance with the second paragraph of section 61 of the Act and the refunds and benefits payable under the pension plan;
(3) the value of the plan’s assets, and the actuarial assumptions and methods used to determine that value;
(4) the value of the plan’s liabilities distributed among the group of active members of the plan, the group of non-active members to whom no pension is paid and the group of the other non-active members and beneficiaries, and the actuarial assumptions and methods used to determine the value;
(5) the plan’s funding ratio.
5. The report on a complete actuarial valuation shall contain the information and statements of the actuary provided for in Section 3260 of the Standards of Practice of the Canadian Institute of Actuaries, those provided for under sections 6 to 9, under sections 10 to 11.1 where applicable, and under section 11.3, as well as the following information:
(1) the number of active members, the number of non-active members to whom no pension is being paid and the number of the other non-active members and beneficiaries whose benefits are covered by the actuarial valuation apportioned, if applicable, according to whether their benefits are accumulated under defined benefit provisions or money purchase provisions within the meaning of section 965.0.1 of the Taxation Act (chapter I-3), or under both types of provisions;
(2) a summary of the provisions of the plan that must be taken into account for the purposes of the valuation, including those bearing on contributions, normal retirement age, conditions to be met to be entitled to an early pension, the pension indexation formula, assumptions used in accordance with the second paragraph of section 61 of the Act and the refunds and benefits payable under the pension plan;
(3) the value of the plan’s assets, and the actuarial assumptions and methods used to determine that value;
(4) the value of the plan’s liabilities distributed among the group of active members of the plan, the group of non-active members to whom no pension is paid and the group of the other non-active members and beneficiaries, and the actuarial assumptions and methods used to determine the value;
(5) the plan’s funding ratio.
5. A report on a partial actuarial valuation carried out under the conditions provided for in the second paragraph of section 118 of the Act must contain the information provided for in sections 5.1 to 5.4 and the following information:
(1) the name of the plan and the number assigned to it by Retraite Québec;
(2) the date of the actuarial valuation;
(3) the name of the signatory, the signatory’s professional title, the name and address of the signatory’s office and the date of signing;
(4) a certification of the actuary certifying that a complete actuarial valuation of the plan carried out at the valuation date would have shown that the plan is both solvent and funded.
The certifications provided for in this section and in sections 5.1 and 5.2 must be established on the basis of a conservative estimate made by the actuary.
5. A report on a partial actuarial valuation carried out under the conditions provided for in the second paragraph of section 118 of the Act must contain the information provided for in sections 5.1 to 5.4 and the following information:
(1) the name of the plan and the number assigned to it by the Régie;
(2) the date of the actuarial valuation;
(3) the name of the signatory, the signatory’s professional title, the name and address of the signatory’s office and the date of signing;
(4) a certification of the actuary certifying that a complete actuarial valuation of the plan carried out at the valuation date would have shown that the plan is both solvent and funded.
The certifications provided for in this section and in sections 5.1 and 5.2 must be established on the basis of a conservative estimate made by the actuary.
