Basic rules for amending a pension plan
- The employer usually has the power to amend a pension plan. Refer to the plan provisions for details.
- An amendment cannot have effect
until it has been registered with
Retraite Québec, except in the cases provided for under
section 19 of the
Supplemental Pension Plans Act .
- An amendment can reduce future obligations. It cannot reduce past obligations, except in certain specific cases.
- An amendment may not reduce a benefit whose payment began prior to the date on which the amendment took effect.
- Any provision of a pension plan that is not in conformity with the Act is without effect.
- Certain amendments require
Retraite Québec's authorization or approval.
Amendments reducing benefits under a defined contribution or defined benefit plan
Consult the rules that apply to
amendments reducing benefits under a defined contribution or defined benefit plan as well as the requirements that must be met for exceptions to apply, particularly where the
affected members and beneficiaries have given their consent. See also the
examples of information to be provided when obtaining consent.
Converting a defined contribution pension plan into a simplified pension plan
here for basic information on the subject. You can also consult
Newsletter number 17, published in June 2004.
The contents of this page do not apply to simplified pension plans (SIPPs). Find out more about