Publishing a notice
Within 90 days of receiving the written notice of termination from the employer (or the decision of Retraite Québec), the plan administrator must:
- have the termination report prepared
- send the termination report to the employer (and to the union, if any)
- send statements of benefits to members and beneficiaries
- publish a notice in a daily newspaper
After the 90-day time period is up, the administrator must send the termination report to Retraite Québec (with amendments, if any).
The plan administrator must publish a notice inviting all those who did not receive a statement of benefits and believe that they have rights under the plan or under the Supplemental Pension Plans Act, to present a claim to the plan administrator.
Under certain circumstances, the administrator does not have to publish the notice.
Publication in a daily newspaper
The notice must be published in a daily newspaper circulated in an area where the greatest number of active members reside as of the date of the plan's termination.
Publication of the notice in a weekly newspaper is not allowed, even if a weekly is the only local newspaper in the area in question.
Particularities for plans with more than 1 employer
- A notice must be published for each employer party to the plan.
- Each notice must be published in a daily newspaper circulated in the area of Québec where the greatest number of members for the employer in question reside.
- The notice must be published even for an employer who no longer employs any active members. Therefore, the notice must be published in a daily newspaper circulated in an area where it will reach the greatest number of non-active members and beneficiaries related to that employer.
- The administrator can publish a joint notice for several employers in the same daily newspaper. The notice must specify the number of employers affected.
Contents of a published notice
To achieve its purpose, the public notice must include:
- the plan's name
- the reason for the notice's publication, that is, the pension plan termination
- the name of the employer or employers affected by the public notice
- an invitation to all those who did not receive a statement of benefits and believe they have rights under the Supplemental Pension Plans Act, to present a claim to the plan administrator.
- the deadline for presenting a claim
- the plan administrator's address.
Deadline for presenting a claim
The administrator must set a deadline for persons affected by the public notice to present a claim.
Date the notice is published
- The notice must be published after sending the statements of benefits (and not before).
- The notice must give an expiry date - the deadline for presenting a claim - so that persons affected by the notice can present a claim.
Sample of a public notice
Notice regarding the pension plan termination for Company « A » and its subsidiaries
The pension plan affects employees of Company A and Company B.
Because the pension plan of Company A and its subsidiaries is being terminated, notice is hereby given to all those persons who have not received a statement of benefits and believe that they have rights under the plan or under the Supplemental Pension Plans Act, that they can present a claim to the plan administrator before 29 June 2020 at the following address:
Pension plan of Company A and its subsidiaries
40 Main Street
Québec, QC G0Z 0Z0
For the plan administrator,
Exemption from publishing a notice
A public notice is not required if all the members and beneficiaries who may have rights under the plan or under the Act have been notified personally in writing of the termination. Exemption is automatic if that condition is respected, and the administrator does not need to request Retraite Québec's authorization. However, the administrator must be able to prove that the terms mentioned above were respected if Retraite Québec requires it.
The administrator must be able to show that all the persons affected by the plan received written notice. The fact that the written notice of termination from the employer (or Retraite Québec's decision) was sent is not proof of receipt.
Steps after publishing a notice
Terminating a simplified pension plan (SIPP)
The contents of this page are not pertinent to SIPPs. Please consult the page that deals with the steps to terminate an SIPP.