R-17.0.1 - Voluntary Retirement Savings Plans Act

Section 70.1 Disposition versions

2020-12-11

70.1. The voluntary retirement savings plan may provide that a member referred to in Division III of Chapter IV or the member’s spouse, as defined in section 71, is entitled to apply, on the conditions and within the time prescribed by regulation, for payment of a variable payment life pension out of all or part of the sums in his or her accounts.

Such a pension must be paid into a variable payment life pension fund that must meet the requirements prescribed by regulation, in particular with respect to establishing the amount of the pension that may be purchased with the sums transferred or to increasing or decreasing that amount.

2020, c. 30, s. 88.