Newsletter

Newsletter number 28 (August 2012)

Rules regarding the payment of contributions into the pension fund

On page 5 of this document, the secured claims correspond to "top-priority claims". Regarding unsecured claims from defined-benefit pension plans, they become "top-priority" for:

  • new plans set up as of 27 April 2023;
  • plans in place as at 27 April 2023, that is, as of 27 April 2027.

The Pension Protection Act This link will open in a new window. grants "top-priority" to claims regarding employer amortization payments and the debt (deficit) of a defined-benefit pension plan. However, the "top-priority" of claims related to employer amortization payments and the debt (deficit) would not apply to the following plans:

  • member-funded pension plans (MFPP);
  • multi-employer negotiated-contributed pension plans;
  • target-benefit pension plans.

For more information on bankruptcy or insolvency, contact the Office of the Superintendent of Bankruptcy This link will open in a new window..

Last update: August 2012.
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