Frontline information on pension plans!

Do you know how to handle the legal and administrative aspects of your company's pension plan? If you are thinking about setting up a pension plan for your employees, do you know how to make the right choices, what the advantages to you are and how to get started?

To make you life easier, we have the answers to those questions and a lot more.

There's a word for it!

Several terms are used to talk about supplemental pension plans.

  • pension plans
  • registered pension plans (term used by federal agencies)
  • pension funds
  • company plans
  • private pension plans

What kind of plan should you choose?

Are you familiar with the simplified pension plan (SIPP)? It is a plan made-to-measure for small businesses-simple and quick to set up, simple and easy to administer. In fact, almost all of the work will be done by your financial institution.

There are also the "classical" plans: the defined contribution pension plan (the simplified pension plan's older cousin) and the defined benefit pension plan.

To find out more, go to the section You have decided to set up a plan.

If you already sponsor a simplified pension plan (SIPP)

Go to the section The simplified pension plan that you sponsor. There you will find information on several subjects that will help you get a grip on your rights and responsibilities and find out about the rules for amending or terminating your simplified pension plan.

If you already sponsor a defined contribution or a defined benefit pension

The section The defined benefit or defined contribution plan that you sponsor will tell you everything you want to know about your role, your powers and your responsibilities, including the formalities to respect when you amend your plan, convert it into an SIPP or terminate it.

Supplemental pension plans are supervised by Retraite Québec

The Retraite Quebec's role includes:

  • ensuring that the administration and operation of plans is in conformity with the Supplemental Pension Plans Act
  • registering plan texts and any plan amendments
  • providing information about a plan to plan administrators, members, beneficiaries, employers, consultants, unions and the public
  • promote the establishment and improvement of pension plans

Other important information

  • If your pension plan has members who work outside Québec, the section Members outside Québec will answer your questions and provide useful links.
  • The section changes affecting your company will help you find out what impact changes will have on your pension plan so that you can act from a position of knowledge.
  • For your employees who want to be informed about the main sources of retirement income. We offer information sessions in the workplace.
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