R-10, r. 2 - Regulation under the Act respecting the Government and Public Employees Retirement Plan

Section 33.1 Disposition versions

2012-09-01

33.1. The amount that the Government must pay as compensation to the employees’ contribution fund at the Caisse de dépôt et placement du Québec under section 128.0.1 of the Act corresponds to the sum of the following reductions:

(1)  where the amount withheld provided for in section 29 of the Act was applied, the sum of all the reductions that were granted the previous year in accordance with Schedule II.1.1 to the Act;

(2)  where that amount was not withheld because the condition provided for in the first paragraph of section 29 was not met, the sum of all the reductions that would have been granted the previous year, withholding the higher of «0» and the result from the reduction «R» using the following formula:

RC × [PS - ((E × MPE) × S)] = R

where

“RC” is the rate of contribution referred to in Schedule IV.4;

“PS” is the pensionable salary;

“E” is the percentage of exemption which is 33% for 2012, 31% for 2013, 29% for 2014, 27% for 2015 and 25% as of 2016;

“MPE” is the maximum pensionable earnings within the meaning of the Act respecting the Québec Pension Plan (chapter R-9);

“S” is the credited or harmonized service referred to in the second paragraph of section 29 of the Act.

T.B. 211355, s. 1.