Regulation to amend the regulation respecting supplemental pension plans
In our April 19, 2016 New Legal Developments – Quebec, we summarized some of the principal changes made to the Quebec Supplemental Pension Plans Act by Bill 57, An Act to Amend the Supplemental Pension Plans Act Mainly with Respect to the Funding of Defined Benefit Pension Plans.
On July 20, 2016, the draft Regulation to amend the Regulation respecting supplemental pension plans was published. The purpose of this draft Regulation is to set out various measures regarding the funding of pension plans, mainly with respect to the funding of DB plans. These measures include changes to the contents of actuarial valuation reports and statements to plan members and changes to conditions regarding letters of credit.
The draft Regulation was published for comments for a 30-day period, which expired in August 2016. The draft Regulation has not yet been approved by the government.
François Parent is a partner with Lavery de Billy