Like all insurance plans, the QPIP funding structure provides for a process of premium collection, benefit payment, and reserve fund management.
The Conseil is responsible for ensuring QPIP funding. It plays a management role and monitors major financial issues, notably by adopting a funding policy, setting premium rates, adopting a reserve fund investment policy, adopting regulations, and advising the Minister on the QPIP’s development. The Conseil is also trustee of the Parental Insurance Fund and is responsible for its administration.
Revenu Québec is responsible for collecting QPIP premiums, which are then transferred to the Conseil (minus collection costs).
All activities related to client eligibility and benefit payment are handled by the Ministère de l’Emploi et de la Solidarité sociale. The financial information collected daily is then sent to the Conseil and Ministère des Finances du Québec to ensure that recipients receive their benefits.
Since funds do not come in at the same pace as they go out, surplus cash assets are deposited into a special fund at the Caisse de dépôt et placement du Québec.
Note: The information contained on this website cannot be used for legal interpretation purposes and does not replace the provisions of the relevant statutes and regulations.