Funding
Parental Insurance Fund
The Parental Insurance Fund (PIF) is a self-balancing fund into which the payments to the Québec Parental Insurance Plan are made. It is used exclusively for paying benefits and the Conseil’s bonds in the function of administering the Plan. When the Fund has excess liquidity, investment income is added to the premiums collected to ensure the Plan’s financial commitments.
The Parental Insurance Fund was created in June 2005. The Conseil acts as the fund trustee. As trustee, it is responsible for administering the amounts entrusted to it in keeping with the provisions set out in the Civil Code of Québec and the Act respecting parental insurance.
Financial statements for the PIF and the Conseil are produced yearly and audited by the Auditor General of Québec. The Conseil’s chief executive officer also reports to the National Assembly regarding Fund management.
Investment management
On December 6, 2005, the Conseil’s board of directors adopted a Parental Insurance Fund investment policy. This policy stipulates that assets be distributed in a variety of investments and determines the benchmarks to measure the performance of the investments entrusted to the Caisse de dépôt et placement du Québec.
Last update: 2011-12-08
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.
