R-10, r. 9 - Regulation respecting the partition and assignment of benefits accrued under the Régime de retraite des membres de la Sûreté du Québec

Section 16 Disposition versions

2016-01-01

16. Upon receipt of a duly completed application for payment, Retraite Québec must send the member or former member a statement showing the sums awarded to the spouse as well as the amount of the reduction calculated pursuant to Divisions IV and V. Retraite Québec must also send the spouse a statement showing the sums awarded to him or her.

The spouse must, within 60 days of the date on which the statement addressed to him or her was mailed, provide Retraite Québec with the name and address of the financial institution, as well as an identification of the annuity contract, locked-in retirement account or life income fund or, where applicable, the registered retirement savings plan or registered retirement income fund into which the sums awarded to him or her must be transferred.

Unless the spouse was paid otherwise, Retraite Québec must, within 120 days following the expiry of the period provided for in the second paragraph, transfer the sums awarded to the spouse into an annuity contract, locked-in retirement account or life income fund or, where applicable, into a registered retirement savings plan or registered retirement income fund with a financial institution chosen by the spouse, provided that the steps necessary for the transfer of those sums were taken beforehand.

Should the spouse fail to indicate his or her choice and to take the necessary steps within the prescribed period, Retraite Québec must transfer those sums into a locked-in retirement account or, where applicable, into a registered retirement savings plan in the spouse’s name with the financial institution with which Retraite Québec reached an agreement to that effect.

Where the spouse proceeds by way of forced execution, the judgment authorizing seizure in the hands of a third person must serve as an application for payment and this section applies.

O.C. 125-2010, s. 16; I.N. 2016-01-01 (NCCP).

2012-09-01

16. Upon receipt of a duly completed application for payment, the Commission must send the member or former member a statement showing the sums awarded to the spouse as well as the amount of the reduction calculated pursuant to Divisions IV and V. The Commission must also send the spouse a statement showing the sums awarded to him or her.

The spouse must, within 60 days of the date on which the statement addressed to him or her was mailed, provide the Commission with the name and address of the financial institution, as well as an identification of the annuity contract, locked-in retirement account or life income fund or, where applicable, the registered retirement savings plan or registered retirement income fund into which the sums awarded to him or her must be transferred.

Unless the spouse was paid otherwise, the Commission must, within 120 days following the expiry of the period provided for in the second paragraph, transfer the sums awarded to the spouse into an annuity contract, locked-in retirement account or life income fund or, where applicable, into a registered retirement savings plan or registered retirement income fund with a financial institution chosen by the spouse, provided that the steps necessary for the transfer of those sums were taken beforehand.

Should the spouse fail to indicate his or her choice and to take the necessary steps within the prescribed period, the Commission must transfer those sums into a locked-in retirement account or, where applicable, into a registered retirement savings plan in the spouse’s name with the financial institution with which the Commission reached an agreement to that effect.

Where the spouse proceeds by way of compulsory execution, the judgment authorizing a seizure by garnishment must serve as an application for payment and this section applies.

O.C. 125-2010, s. 16.