R-10, r. 7 - Regulation respecting the partition and assignment of benefits accrued under the Government and Public Employees Retirement Plan

Section 16 Disposition versions

2012-09-01

16. If the amount paid to the spouse comes from an entitlement to a refund of contributions, to a deferred pension or to a pension credit, the benefits of the employee or former employee shall be established in accordance with the Act and shall be recalculated as follows:

(1)  where the employee or former employee is entitled to a refund of contributions, to a payment of actuarial value or is entitled to transfer an amount under a transfer agreement entered into in accordance with section 158 of the Act, the amount of the refund of contributions, of the payment of actuarial value or the amount to be transferred shall be reduced by the sums awarded to the spouse at the date of assessment with interest compounded annually at the rate determined for each period under Schedule VI to the Act and accrued from the date of assessment to the date on which the refund, payment or transfer is made. Notwithstanding the foregoing, no interest is calculated on the portion of those sums that relate to years or parts of years of service under the Teachers Pension Plan or the Civil Service Superannuation Plan, if those sums come from an entitlement to a refund of contributions. A separate calculation shall be made in the case of a pension credit;

(2)  where the employee or former employee is entitled to a deferred pension, to a pension or to pension credit, his pension or pension credit shall be reduced, from the date on which it becomes payable or from the date of payment, as the case may be, by the amount of pension or pension credit that would be obtained on the basis of the sums awarded to the spouse at the date of assessment.

O.C. 351-91, s. 16; O.C. 1191-95, s. 7; O.C. 1428-98, s. 3.