177.1. Retraite Québec must establish, not later than the date and for the years determined by government regulation, the amount the employers must pay into the employees’ contribution fund at the Caisse de dépôt et placement du Québec to cover the difference between the sum of the contributions that would have been paid if the contribution rate determined by the most recent actuarial valuation prepared under the first paragraph of section 171, established with an exemption of 35% of the maximum pensionable earnings within the meaning of the Act respecting the Québec Pension Plan (chapter R-9), had applied to the plan for the year concerned, and the sum of the contributions that were paid for that year.
This compensatory amount is established and paid according to the rules, terms and conditions prescribed in the regulation.
In the case of the employers referred to in Schedule IV, Retraite Québec must transfer this compensatory amount from the employers’ contributory fund at the Caisse de dépôt et placement du Québec to the employees’ contribution fund at the Caisse. If the employers’ contributory fund is exhausted, the sums needed for the transfer are to be taken, first, out of the funds capitalized under section 48 and, thereafter, out of the Consolidated Revenue Fund. In the case of employers not referred to in that Schedule, Retraite Québec must pay into the employees’ contribution fund at the Caisse the compensatory amount received from those employers.
2012, c. 6, s. 19; 2015, c. 20, s. 61.