R-10, r. 4 - Regulation respecting the application of Title IV.2 of the Act respecting the Government and Public Employees Retirement Plan

Section 15.1 Disposition versions

2019-07-01

15.1. The annual amount of a deferred pension under the Pension Plan of Management Personnel, payment of which is anticipated under this Chapter, shall be established as follows:

(1)  by computing the pension in the same manner as the pension granted under that plan, irrespective of the limit provided for in the first paragraph of section 30 of the Act respecting the Pension Plan of Management Personnel (chapter R-12.1);

(2)  by indexing annually the pension obtained under subparagraph 1 by the rate of increase in the Pension Index determined by the Act respecting the Québec Pension Plan (chapter R-9), from 1 January following the date on which the employee ceases to be a member of the plan until 1 January of the year in which the employee retires. However, the part of the pension that applies to the years of service credited after 31 December 1991 may not, on the date of the person’s retirement, exceed the amount obtained by adding the following amounts:

(a)  the amount obtained by multiplying the upper limit for the benefits determined, applicable for the year in which the person retires and established under the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)), by the number of years of service credited after 31 December 1991; and

(b)  the amount obtained by computing the reduction provided for in section 57 of the Act respecting the Pension Plan of Management Personnel, counting only the years of service credited after 31 December 1991;

(3)  by reducing the amount obtained under subparagraph 2, during the pension payment period, by 1/2 of 1% per month, computed for each month between the date of the employee’s retirement and the date of the employee’s sixty-fifth birthday;

(4)  by reducing the amount obtained under subparagraph 3 by the amount obtained under the first paragraph of section 57 of that Act, with the latter amount being indexed in the manner prescribed in subparagraph 2 and reduced in the manner prescribed in subparagraph 3; and

(5)  by applying the second paragraph of section 76 of that Act to the amount obtained under subparagraph 4, on the date of the employee’s retirement, using the actuarial assumptions and methods provided for in Schedule III.

Where an employee makes the election provided for in section 63 of that Act, the pension obtained under the first paragraph shall be reduced by 2%.

T.B. 200048, s. 7; T.B. 208551, s. 5; T.B. 211994, s. 1; T.B. 218308, s. 1.

2013-07-01

15.1. The annual amount of a deferred pension under the Pension Plan of Management Personnel, payment of which is anticipated under this Chapter, shall be established as follows:

(1)  by computing the pension in the same manner as the pension granted under that plan, irrespective of the limit provided for in the first paragraph of section 30 of the Act respecting the Pension Plan of Management Personnel (chapter R-12.1);

(2)  by indexing annually the pension obtained under subparagraph 1 by the rate of increase in the Pension Index determined by the Act respecting the Québec Pension Plan (chapter R-9), from 1 January following the date on which the employee ceases to be a member of the plan until 1 January of the year in which the employee retires. However, the part of the pension that applies to the years of service credited after 31 December 1991 may not, on the date of the person’s retirement, exceed the amount obtained by adding the following amounts:

(a)  the amount obtained by multiplying the upper limit for the benefits determined, applicable for the year in which the person retires and established under the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)), by the number of years of service credited after 31 December 1991; and

(b)  the amount obtained by computing the reduction provided for in section 57 of the Act respecting the Pension Plan of Management Personnel, counting only the years of service credited after 31 December 1991;

(3)  by reducing the amount obtained under subparagraph 2, during the pension payment period, by 1/3 of 1% per month, computed for each month between the date of the employee’s retirement and the date of the employee’s sixty-fifth birthday;

(4)  by reducing the amount obtained under subparagraph 3 by the amount obtained under the first paragraph of section 57 of that Act, with the latter amount being indexed in the manner prescribed in subparagraph 2 and reduced in the manner prescribed in subparagraph 3; and

(5)  by applying the second paragraph of section 76 of that Act to the amount obtained under subparagraph 4, on the date of the employee’s retirement, using the actuarial assumptions and methods provided for in Schedule III.

Where an employee makes the election provided for in section 63 of that Act, the pension obtained under the first paragraph shall be reduced by 2%.

T.B. 200048, s. 7; T.B. 208551, s. 5; T.B. 211994, s. 1.

2012-09-01

15.1. The annual amount of a deferred pension under the Pension Plan of Management Personnel, payment of which is anticipated under this Chapter, shall be established as follows:

(1)  by computing the pension in the same manner as the pension granted under that plan, irrespective of the limit provided for in the first paragraph of section 30 of the Act respecting the Pension Plan of Management Personnel (chapter R-12.1);

(2)  by indexing annually the pension obtained under subparagraph 1 by the rate of increase in the Pension Index determined by the Act respecting the Québec Pension Plan (chapter R-9), from 1 January following the date on which the employee ceases to be a member of the plan until 1 January of the year in which the employee retires. However, the part of the pension that applies to the years of service credited after 31 December 1991 may not, on the date of the person’s retirement, exceed the amount obtained by adding the following amounts:

(a)  the amount obtained by multiplying the upper limit for the benefits determined, applicable for the year in which the person retires and established under the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)), by the number of years of service credited after 31 December 1991; and

(b)  the amount obtained by computing the reduction provided for in section 57 of the Act respecting the Pension Plan of Management Personnel, counting only the years of service credited after 31 December 1991;

(3)  by reducing the amount obtained under subparagraph 2, during the pension payment period, by 1/4 of 1% per month, computed for each month between the date of the employee’s retirement and the date of the employee’s sixty-fifth birthday;

(4)  by reducing the amount obtained under subparagraph 3 by the amount obtained under the first paragraph of section 57 of that Act, with the latter amount being indexed in the manner prescribed in subparagraph 2 and reduced in the manner prescribed in subparagraph 3; and

(5)  by applying the second paragraph of section 76 of that Act to the amount obtained under subparagraph 4, on the date of the employee’s retirement, using the actuarial assumptions and methods provided for in Schedule III.

Where an employee makes the election provided for in section 63 of that Act, the pension obtained under the first paragraph shall be reduced by 2%.

T.B. 200048, s. 7; T.B. 208551, s. 5.