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

Article 24.1 Versions de la disposition

2025-01-01

24.1. Where sums are deposited, during the same year, in a fund managed by the financial institution or where the purchaser under 55 years of age informs the financial institution of the maximum temporary income that he or she determines, the financial institution must, within the following 30 days, provide the purchaser with a statement that indicates the following:

1°  the balance of the fund at the beginning of the fiscal year and the sums that have been deposited therein identifying, if the purchaser is under 55 years of age, any amounts coming directly or not during that year from a life income fund or from a supplemental pension plan that offers the variable benefits referred to in Subdivision 3 of Division II.1;

2°  the maximum amount that may be paid to the purchaser under 55 years of age as income during the fiscal year and the balance of the fund used to calculate that amount;

3°  the minimum amount that must be paid to the purchaser as income or that must be paid, in one or more instalments, during the fiscal year;

4°  if the purchaser is 55 years of age or over:

a)  the amount of the life income determined in accordance with section 20.0.1, with the mention that the amount is an estimate and that it may vary in particular because of withdrawals made and returns on the fund;

b)  the assumptions used for the purposes of the estimate of the life income regarding the presumed age of death and the expected rate of return;

c)  the balance of the life income fund, that all or part of the fund may, despite the estimated amount of the life income, and unless the term of the investments has not expired, be paid in one or more instalments, on request to the financial institution made at any time for the current fiscal year, and such payment is made, as applicable, regardless of the amount of the life income or of the payment in one or more instalments determined or received by the purchaser for the fiscal year.

In addition, where the sums deposited in the life income fund do not change the maximum income to which a purchaser under 55 years of age is entitled, for the current fiscal year, the financial institution is not required to provide the statement referred to in the first paragraph.

O.C. 1681-97, s. 15; O.C. 1073-2009, s. 8; O.C. 500-2014, s. 11; D. 1183-2017, s. 20; D. 942-2024, s. 23.

2018-01-04

24.1. Where sums that do not originate, during the same year, directly or indirectly from a life income fund of the purchaser from a supplemental pension plan that offers the variable benefits referred to in Division II.3, or from the locked-in account of his voluntary retirement savings plan governed by the Voluntary Retirement Savings Plans Act (chapter R-17.0.1) and offering variable payments are deposited in a fund that it manages or the purchaser informs it of the maximum temporary income that he determines, the financial institution shall, within the following 30 days, supply the purchaser with a statement that indicates the following:

1°  the balance of the fund at the beginning of the fiscal year and the sums that have been deposited therein, identifying any amounts coming directly or not during that year from a life income fund of the purchaser from a supplemental pension plan that offers the variable benefits referred to in Division II.3, or from the locked-in account of his voluntary retirement savings plan governed by the Voluntary Retirement Savings Plans Act and offering variable payments, as well as the balance of the fund for the purpose of calculating the maximum amount that may be paid to the purchaser as income during the fiscal year;

2°  the maximum amount that may be paid to the purchaser as income during the fiscal year;

3°  the minimum amount that must be paid to the purchaser as income during the fiscal year;

4°  where the contract establishing the fund provides for payment of a temporary income and the purchaser is at least 54 years of age but less than 65 years of age at the end of the preceding year:

a)  the reference temporary income for the current fiscal year;

b)  the maximum temporary income, if any, determined by the purchaser.

O.C. 1681-97, s. 15; O.C. 1073-2009, s. 8; O.C. 500-2014, s. 11; D. 1183-2017, s. 20.

2014-07-01

24.1. Where sums that do not originate, during the same year, directly or indirectly from a life income fund of the purchaser, or from the locked-in account of his voluntary retirement savings plan governed by the Voluntary Retirement Savings Plans Act (chapter R-17.0.1) and offering variable payments are deposited in a fund that it manages or the purchaser informs it of the maximum temporary income that he determines, the financial institution shall, within the following 30 days, supply the purchaser with a statement that indicates the following:

1°  the balance of the fund at the beginning of the fiscal year and the sums that have been deposited therein, identifying any amounts coming directly or not during that year from a life income fund of the purchaser, or from the locked-in account of his voluntary retirement savings plan governed by the Voluntary Retirement Savings Plans Act and offering variable payments, as well as the balance of the fund for the purpose of calculating the maximum amount that may be paid to the purchaser as income during the fiscal year;

2°  the maximum amount that may be paid to the purchaser as income during the fiscal year;

3°  the minimum amount that must be paid to the purchaser as income during the fiscal year;

4°  where the contract establishing the fund provides for payment of a temporary income and the purchaser is at least 54 years of age but less than 65 years of age at the end of the preceding year:

a)  the reference temporary income for the current fiscal year;

b)  the maximum temporary income, if any, determined by the purchaser.

O.C. 1681-97, s. 15; O.C. 1073-2009, s. 8; O.C. 500-2014, s. 11.

2012-09-01

24.1. Where sums that do not originate, during the same year, directly or indirectly from a life income fund of the purchaser are deposited in a fund that it manages or the purchaser informs it of the maximum temporary income that he determines, the financial institution shall, within the following 30 days, supply the purchaser with a statement that indicates the following:

1°  the balance of the fund at the beginning of the fiscal year and the sums that have been deposited therein, identifying any amounts coming directly or not during that year from a life income fund of the purchaser, as well as the balance of the fund for the purpose of calculating the maximum amount that may be paid to the purchaser as income during the fiscal year;

2°  the maximum amount that may be paid to the purchaser as income during the fiscal year;

3°  the minimum amount that must be paid to the purchaser as income during the fiscal year;

4°  where the contract establishing the fund provides for payment of a temporary income and the purchaser is at least 54 years of age but less than 65 years of age at the end of the preceding year:

a)  the reference temporary income for the current fiscal year;

b)  the maximum temporary income, if any, determined by the purchaser.

O.C. 1681-97, s. 15; O.C. 1073-2009, s. 8.