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

Section 23.1 Disposition versions

2012-09-01

23.1. Where a redemption is being paid at the date of assessment and where, subsequent to that date, the application for redemption is, pursuant to section 216.1 of the Act, deemed never to have been made in respect of all the service, the amount of the employee’s refund shall be reduced so as to correspond to amount “R” in the following formula:

MVd - (Ma x MVe) = R

—

Va

“MVd” represents the amount paid by the employee with, where applicable, accrued interest, up to the date of the employee’s failure to pay;

“Ma” represents the amount awarded to the spouse at the date of assessment;

“Va” represents the value of the benefits accrued under the plan at the date of assessment;

“MVe” represents the amount paid by the employee at the date of assessment with, where applicable, accrued interest, up to the date of the employee’s failure to pay.

O.C. 1191-95, s. 11.