R-12.1, r. 1 - Regulation under the Act respecting the Pension Plan of Management Personnel

Full text
11. For the years 2018 and 2019 and as of 1 January of each of those years, the applicable rate of contribution to the plan is the rate of contribution required to finance the benefits accrued annually and the administrative expenses determined in the amended actuarial valuation referred to in section 35 of the Act to foster the financial health and sustainability of the Pension Plan of Management Personnel and to amend various legislative provisions (2017, chapter 7).
For the years 2020, 2021 and 2022 and as of 1 January of each of those years, the applicable rate of contribution to the plan is the rate of contribution required to finance the benefits accrued annually and the administrative expenses determined in the most recent actuarial valuation provided for in the first paragraph of section 171 of the Act.
The rate of contribution required to finance the benefits accrued annually and the administrative expenses provided for in the first and second paragraphs are established by taking into account only the portion of the pensionable salary in excess of 35% of the maximum pensionable earnings within the meaning of the Act respecting the Québec Pension Plan (chapter R-9).
The applicable rate of contribution to the plan for the year concerned is indicated in Schedule I.2.
T.B. 202420, s. 11; T.B. 205757, s. 1; T.B. 209600, s. 1; T.B. 210899, s. 1; T.B. 211924, s. 1; 217979T.B. 217979, s. 2.
11. The rate of contribution to the plan applicable from 1 January following receipt by the Minister of the independent actuary’s report accompanying the actuarial valuation provided for in the first paragraph of section 171 of the Act and the rates applicable respectively on 1 January of the 2 following years are obtained
(1)  on the basis of the rate of contribution resulting from that valuation, as indicated in Schedule I.1, and the rate of the current service resulting from that valuation; those rates apply to the portion of the pensionable salary in excess of 35% of the maximum pensionable earnings within the meaning of the Act respecting the Québec Pension Plan (chapter R-9);
(2)  by setting a floor rate of contribution equal to the rate of the current service less 1% and a ceiling rate of contribution equal to the rate of the current service plus 1.5%;
(3)  by retaining
(a)  the rate of contribution referred to in subparagraph 1, if that rate is at least equal to the floor rate of contribution but does not exceed the ceiling rate of contribution;
(b)  the floor rate of contribution or the ceiling rate of contribution, depending on whether the rate of contribution referred to in subparagraph 1 is lower or higher, respectively.
The rate of contribution applicable to the plan for the year concerned is indicated in Schedule I.2.
For the purposes of this Division, the rate of the current service refers to the rate of contribution required to finance the benefits accrued annually and the administrative expenses determined by the actuarial valuation.
T.B. 202420, s. 11; T.B. 205757, s. 1; T.B. 209600, s. 1; T.B. 210899, s. 1; T.B. 211924, s. 1.
11. From 1 January 2012, the rate of contribution to the plan applicable to the portion of pensionable salary exceeding 35% of the maximum pensionable earnings within the meaning of the Act respecting the Québec Pension Plan (chapter R-9) is obtained by adding to the rate of contribution required to finance the benefits accrued annually and administrative expenses of 11.55%, as determined by the most recent actuarial valuation under the first paragraph of section 171 of the Act, a factor expressed in percentage to take into account part of the amortization of the surplus or deficit of the plan. The factor is 0.75% for the year 2012.
The rate of contribution applicable for the year 2012 is set at 12.30%.
T.B. 202420, s. 11; T.B. 205757, s. 1; T.B. 209600, s. 1; T.B. 210899, s. 1.