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Normandin Beaudry

Changes made to the Régie des rentes du Québec's Annual Information Return

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There, in black and white

Bulletin NB Vol. 11 N. 5, March 2008

Each year, pension plan administrators are required to complete the Annual Information Return (AIR) and file it with the Régie des rentes du Québec. This form allows the Régie to obtain information on pension plans, including information on changes in plan membership, the makeup of the pension committee and the financial position of the plan. The AIR must be filed with the Régie within six months following the end of the plan's fiscal year.

The Régie has introduced several changes to the AIR this year. This information bulletin outlines the changes regarding the type of information that must be provided with respect to the 2007 AIR.

The information that must be provided annually to the Régie des rentes du Québec will no longer be set out in the Regulations to the Supplemental Pension Plans Act. Going forward, the AIR will be used for this purpose and no amendments to the Regulations will be required.

The main changes result from the addition of a newappendix. The following information will be required to complete this section:

  • Percentage of the total assets as at the end of the fiscal year invested in asset-backed commercial paper (ABCP);
  • By-laws adoption date(1);
  • How often the administrator monitors the work done by the employer, insurer or advisors if the entire administration of the plan is confided to these players;
  • Number of pension committee meetings held during the fiscal year;
  • Type of training pension committee members received during the fiscal year.

(1) Pension committees had up to December 13, 2007 to adopt their by-laws. If this deadline was not met, the expected adoption date should be indicated, as well as the date on which work to establish by-laws commenced.

Changes to required fees

Required fees have been increased from $7.80 to $8.00 per active member, non-active member and beneficiary for 2007.

Information on the identity of pension committee members

From now on, Appendix 1 should be completed only if a pension committee administers the plan. In addition, details on the makeup of the pension committee must be provided by indicating whether each member is a member designated by the group of active members, a member designated by the group of non-active members, a non-voting member, a third-party member, a member designated by the employer or a member designated by the union or an independent member designated under an agreement between the employer and the union.

Annual meeting date

The date of the annual meeting entered on line 1 of section 8 will now correspond to the date of the most recent meeting, even if it was not held during the fiscal year covered by the AIR.

Changes to the Statement of financial position of an uninsured plan (Appendix 3A)

If the plan's administrator is not subject to a financial statement audit, the administrator must now complete section 5 of this appendix. A space has been provided to indicate whether the section was completed by the administrator or by an auditor.

Please note that indicial mutual funds and asset allocation funds must be distributed between lines 337 and 355 according to the type of investments they represent.

Other minor changes pertaining to information presentation have also been made to the form. They do not, however, change the type of information that must be provided.

You can view the AIR and its accompanying guide on the Régie des rentes du Québec's website at: www.rrq.qc.ca

 

Please feel free to contact us for additional information.

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