54. The pension committee must, where no retirement, disability or replacement pension is being paid to the member at the date of execution of the partition or transfer of pension benefits, determine at that date the amount of the part of the normal pension which, determined according to the sum paid to the spouse or transferred to the spouse’s account, would have been payable to the member at normal retirement age according to the conditions and characteristics provided for by the plan for that pension. The pension committee must keep a record of that amount.
Where the pension benefits correspond to a postponed pension, the amount provided for in first paragraph is determined on the basis of the value of the retirement pension recalculated at the date of execution of the partition or transfer in accordance with section 79 of the Act.
The amount provided for in the first paragraph is determined, if the plan so provides, by taking into account the periodic increase of the pension amount, before payment begins, in relation to an index of rate provided for in the plan. It is determined in all cases by using the assumptions provided for in the second paragraph of section 37.
O.C. 1158-90, s. 54; O.C. 173-2002, s. 45; O.C. 1073-2009, s. 36.