47. A deduction of 71/2 per cent shall be made from that part of every employee’s pensionable salary which exceeds 35 per cent of his maximum pensionable earnings within the meaning of the Act respecting the Québec Pension Plan (chapter R-9).
The exemption of 35% of the maximum pensionable earnings within the meaning of the Act respecting the Québec Pension Plan must however be not less than $2,500 for the purposes of this plan.
Such exemption shall be applied prorata to the number of pay periods during a year.
In addition, in the case of a part-time employee, such exemption shall be applied pro rata to the ratio between the equivalent in remunerated full days of work accomplished by him and the number of remunerated days of work that a full-time employee would have accomplished in a similar employment.