Canons of the Diocese of Montreal

Canon 24 - Main Page

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• Section 11
• Section 12
• Section 13
• Section 14
• Schedule A
• Schedule B

12.1 There shall be a Fund to be designated "The Pension Fund of the Diocese of Montreal" administered by the Committee for the purpose of providing the benefits for Members, Disabled Members, Pensioners, Past Members and the surviving Eligible Spouses and Children of deceased Pensioners to be granted in accordance with the provisions of this Plan and the regulations thereof.

12.2 The said Fund shall consist of:

1. all the money held by the Synod for any of the purposes mentioned in Section 12.1;

2. money given or bequeathed to, or received, by the Synod and designated for any object as defined in Section 12.1;

3. money received from annual assessments as defined in Section 9; and

4. money received under reciprocity agreements; and

5. income derived from investments in the Fund;

   less benefits or expenses paid out of the Fund.

12.3 Subject to the restrictions contained in any instrument under which money at any time forming part of the Fund is or has been bequeathed or donated to the Synod, the Fund shall be used:

1. to defray the reasonable expense of the promotion and administration of the Plan;

2. to pay benefits as provided herein;

3. to make refunds or transfers of contributions;

4. to transfer reserves under reciprocity agreements.

12.4 The general principle to be observed in determining benefits shall be the maintenance so far as may be possible of a proper actuarial relation between the assessments to be made and levied and the benefits proposed to be paid.

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Note: this text is provided for information purposes only. While every effort has been made to ensure that this text is accurate, in the event of any discrepancy between this version and the official printed version, the latter shall prevail.