R-12.1 - Act respecting the Pension Plan of Management Personnel

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76. The annual amount of the deferred pension is computed in the same manner as the pension. However, as regards the deferred pension, the amount obtained pursuant to the first paragraph of section 57 is indexed in the same manner as the deferred pension until 1 January in the year in which the employee reaches 65 years of age.
If the actuarial value of the deferred pension established in accordance with the actuarial assumptions and methods determined by regulation is less than the total of the contributions with interest accrued on the date of the employee’s sixty-fifth birthday, the deferred pension is adjusted so that it is equal in value to the total of the contributions and interest.
Notwithstanding section 59, an employee who is entitled to a deferred pension is deemed to retire on the day of his or her sixty-fifth birthday. The deferred pension shall be payable to the employee from that date and for life.
2001, c. 31, s. 76.