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R-10, r. 2 - Regulation under the Act respecting the Government and Public Employees Retirement Plan
Section 12.2.2
Disposition versions
12.2.2. For the purposes of section 53 of the Act, the annual value of the initial pension paid to the employee is adjusted by multiplying it by the ratio obtained by dividing the value “A” by the value “B”, where
“A” corresponds to the actuarial value at the employee’s retirement age; and
“B” corresponds to the actuarial value at age 65.
The actuarial value is determined using the “benefit allocation” actuarial method.
For the Government and Public Employees Retirement Plan, the actuarial value corresponds to the sum of 25% of the actuarial value determined for a male and 75% of the actuarial value determined for a female.
For the Pension Plan of Certain Teachers, the actuarial value corresponds to the sum of 50% of the actuarial value determined for a male and 50% of the actuarial value determined for a female.
The economic assumptions are established based on the rates and returns of bond indexes, as described in the CIA Standard, applicable to the second calendar month preceding the month in which the valuation took place, rather than those applicable to the preceding month.
12.2.2. For the purposes of section 53 of the Act, the annual value of the initial pension paid to the employee is adjusted by multiplying it by the ratio obtained by dividing the value “A” by the value “B”, where
“A” corresponds to the actuarial value at the employee’s retirement age; and
“B” corresponds to the actuarial value at age 65.
The actuarial value is determined using the “benefit allocation” actuarial method.
For the Government and Public Employees Retirement Plan, the actuarial value corresponds to the sum of 25% of the actuarial value determined for a male and 75% of the actuarial value determined for a female.
For the Pension Plan of Certain Teachers, the actuarial value corresponds to the sum of 50% of the actuarial value determined for a male and 50% of the actuarial value determined for a female.
The economic assumptions are established based on the rates and returns of bond indexes, as described in the CIA Standard, applicable to the second calendar month preceding the month in which the valuation took place, rather than those applicable to the preceding month.
12.2.2. For the purposes of section 53 of the Act, the annual value of the initial pension paid to the employee is adjusted by multiplying it by the ratio obtained by dividing the value “A” by the value “B”, where
“A” corresponds to the actuarial value at the employee’s retirement age; and
“B” corresponds to the actuarial value at age 65.
The actuarial value is determined using the “benefit allocation” actuarial method and the actuarial value corresponds to the sum of 30% of the actuarial value determined for a male and 70% of the actuarial value determined for a female.
