Declaration of plan termination

The plan termination declaration comes after receipt of the written notice of termination issued by the employer (or receipt of the decision of the Régie des rentes du Québec to terminate the plan, as the case may be).

Prescribed time limit

The termination declaration must be completed within 15 days following the date on which the administrator received the written notice of termination from the employer (or the Régie's decision to terminate the plan).

Recipients

• The Régie des rentes du Québec
  
  Note: If the employer terminates the plan, a copy of the written notice of termination must be enclosed with the termination declaration.
• The employer
• The union, if any

When the statements of benefits are sent to plan members and beneficiaries, enclose a copy of the termination declaration as well.

Purpose

To confirm that the legal requirements are being met.

Example - If the employer decides to terminate a pension plan, the plan administrator must confirm the following points, among others:

• that a notice of termination was sent to all members and beneficiaries affected
• that the termination date respects the requirements of the Supplemental Pension Plans Act.

To confirm the date on which the administrator received a copy of the written notice of termination from the employer (or the Régie's decision).

Termination declaration forms

Declaration of termination of a pension plan (following notice given by the employer who is party to the plan)

Declaration of termination of a pension plan (following a decision of the Régie des rentes du Québec)

Steps after the termination declaration

• Termination report 
• Sending the termination report to the employer and the union, if any
• Statements of benefits for plan members and beneficiaries 
• Publication of a notice
• Sending the termination report to the Régie (with the required fees)
• Payment of benefits to members and beneficiaries
• Allocation of surplus assets (if any)