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 Retraite 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 Retraite Québec's decision to terminate the plan).
Recipients
- Retraite Québec
- The employer
- The union, if any
Note that...
- If the employer terminates the plan, a copy of the written notice of termination must be enclosed with the termination declaration.
- 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.
To confirm the date on which the administrator received a copy of the written notice of termination from the employer (or Retraite Québec's decision).
A helpful 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.
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 Retraite Québec)
Legal references