Recent legislative and regulative measures
Regulations respecting temporary relief measures for 2012 and 2013
The Regulation providing temporary relief measures for the funding of solvency deficiencies was published on 30 May 2012.
This Regulation provides for temporary relief measures until 31 December 2013 for defined benefit pension plans in the private sector. The measures are as follows:
- assets smoothing on the basis of solvency
- consolidation of certain deficits
- extension of the amortization period for any technical actuarial deficiencies determined during the period in which the relief measures apply.
These measures are similar to the measures that ended in 2011. However, there are substantial differences in how they are applied.
The following two regulations were published on 29 February 2012:
- Regulation to amend the Regulation respecting the funding of pension plans of the municipal and university sectors
- Regulation to amend the Regulation respecting the exemption of certain pension plans from the application of provisions of the Supplemental Pension Plans Act.
These regulations extend the temporary relief measures until 31 December 2013 for pension plans for municipalities and universities, the pension plan for early childhood centres (CPEs) and accredited private daycares in Québec and the pension plan for emergency medical technicians. The measures concern the reduction of the amortization payments required to amortize any technical deficiency.
Bill 42, passed on 30 November 2011
Bill 42, the Act to amend the Supplemental Pension Plans Act in order to extend certain measures to reduce the effects of the 2008 financial crisis on plans covered by the Act 
, extends the application of the following two measures provided for under Bill 1 and Bill 129 until 31 December 2013:
- the provisions concerning the payment where there is a deficiency of pension plan assets upon termination of the plan or the withdrawal of an employer, due to the employer's bankruptcy or insolvency
- the provision, which provides that where an employer uses relief measures provided for by regulation, the amount of the pension paid on the basis of the assets administered by the Régie and subsequently guaranteed by an insurer is determined to neutralize the effects of the relief measures.
Documents related to Bill 42
Bill 11, passed on 8 June 2011
Bill 11, the Act to amend the Supplemental Pension Plans Act and to provide for the possibility of opting to receive a pension paid by the Régie des rentes du Québec during the existence of certain plans in the pulp and paper sector , provides, among other things, that:
- subject to certain conditions, the option, adopted under the Bill 1, of having a pension paid by the Régie from the assets it administers for certain plans in the pulp and paper industry can be offered each year to the members and beneficiaries, even where the plan has not been terminated or the employer has not withdrawn
- the retroactive period for certain regulations has been increased by a year.
Documents related to Bill 11
Documents specific to AbitibiBowater
Bill 129, passed on 10 December 2010
Bill 129, the Act to amend various provisions respecting supplemental pension plans, particularly concerning payment options in the event of an employer's insolvency , provides, among other things, that:
- the payment options adopted under Bill 1 that apply where an employer is bankrupt also include cases where the employer is insolvent
- the Régie can extend from 5 years to 10 years the period of time it administers a pension, where circumstances so warrant.
Documents related to Bill 129
Bill 1, passed on 15 January 2009
Bill 1, the Act to amend the Supplemental Pension Plans Act and other legislative provisions in order to reduce the effects of the financial crisis on plans covered by the Act , provides, among other things:
- that members and beneficiaries of a bankrupt employer, whose benefits can be paid only partially following the termination of their plan or the withdrawal of an employer who is party to the plan, can request that the Régie pay their pensions from plan assets. The date of plan termination or the employer's withdrawal from the plan must be after 30 December 2008 and before 1 January 2012
- measures to ease the financial burden on the employer.
Documents related to Bill 1
Bills 30 and 68, which concern funding measures
Bill 30, the Act to amend the Supplemental Pension Plans Act, particularly with respect to the funding and administration of pension plans , was passed on 13 December 2006. This Act includes a number of funding measures intended to:
- make defined benefit plans less vulnerable during unfavourable economic times
- secure members' pensions
Bill 68, the Act to amend the Supplemental Pension Plans Act, the Act respecting the Québec Pension Plan and other legislative provisions , was passed on 18 June 2008. This Act amends the Act to amend the Supplement Pension Plans Act, particularly with respect to the funding and administration of pension plans (Bill 30), to complete or specify certain funding measures.
The funding measures came into force on 1 January 2010. However, some of them took effect on 13 December 2006 and others on 20 June 2008.
Documents related to Bill 30 concerning funding measures