Amendments to a defined contribution plan

Generally, the power to amend a pension plan is vested in the employer or jointly in the employer and the union.

Any amendment that changes the employer's commitments must have the employer's written consent.

When advised of a decision to amend a plan, the plan administrator must inform the plan members. The administrator must also file an application for registration with Retraite Québec and the Canada Revenue Agency.

Worth knowing about...
  • Generally, an amendment that reduces member benefits does not come into effect until the members have been informed.
  • No amendment can be made that reduces a pension that is already being paid.

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