News & Updates
Quebec publishes draft regulation, sets out new rules for variable payment life pensions
June 25, 2025
On May 28, the Quebec government published a draft regulation under the Voluntary Retirement Savings Plan Act that sets out new rules for variable payment life pensions.
The proposed amendments in the draft regulation — which may take effect 45 days after their publication — are designed to implement budget measures regarding pensions paid into a variable payment life pension funds set up in a voluntary retirement savings plan.
The draft regulation sets out various rules, including:
- The method for calculating the amount of a variable payment life pension and periodic adjustments;
- The calculation of certain death benefits and where partition of benefits is carried out or where a fund is wound-up;
- The information documents that should be sent to fund beneficiaries by an administrator;
- Fees related to a fund and filing fees payable to Retraite Québec for various associated documents; and
- Harmonization of rules regarding the withdrawal of variable benefits from a voluntary retirement savings plan with those provided for in respect of a supplemental pension plan.
Click the link below to see the draft regulation:
