Quebec - Draft regulations respecting variable payment life pension funds
This bulletin describes two draft regulations that Quebec has published related to the establishment of variable payment life pension funds (VPLP funds).
On May 28, 2025, the Government of Quebec published two draft regulations to include provisions governing the establishment of variable payment life pension funds (VPLP funds).
The regulations would amend the Regulation respecting supplemental pension plans and the Regulation respecting voluntary retirement savings plans.
They provide, among other things, the provisions applicable to the adjustment of pensions paid by VPLP funds. Thus, the pensions may be adjusted to reflect the net returns of the fund, the mortality experience of the members in the VPLP fund, as well as any changes to the mortality assumptions.
Aon will continue to monitor developments related to VPLPs, particularly regarding certain gray areas that remain, for example, for plans with members in multiple provinces.