R-10, r. 7.1 - Regulation respecting the partition and assignment of benefits accrued under the Régime de retraite des employés en fonction au Centre hospitalier Côte des Neiges

Section 11 Disposition versions

2016-01-01

11. Upon receipt of a duly completed application for payment, Retraite Québec shall 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 Division IV. Retraite Québec shall also send the spouse a statement showing the sums awarded to him. Those statements shall be accompanied with a statement of the administrative expenses established in accordance with the Regulation respecting the recovery of certain administrative expenses and of certain other expenses within the framework of the partition and assignment between spouses of benefits accrued under a pension plan (O.C. 352-91, 91-03-20).

The spouse shall, within 60 days following the date on which the statement addressed to him was mailed, provide Retraite Québec with the name and address of the financial institution and with 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 must be transferred.

Unless the spouse was paid otherwise, Retraite Québec shall, 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, as long as the steps necessary for the transfer of those sums have first been taken.

Should the spouse fail to indicate his choice and to take the necessary steps within the prescribed period, Retraite Québec shall 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 has 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 shall take the place of an application for payment and this section applies.

T.B. 197248, s. 11; I.N. 2016-01-01 (NCCP).

2012-09-01

11. Upon receipt of a duly completed application for payment, the Commission shall 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 Division IV. The Commission shall also send the spouse a statement showing the sums awarded to him. Those statements shall be accompanied with a statement of the administrative expenses established in accordance with the Regulation respecting the recovery of certain administrative expenses and of certain other expenses within the framework of the partition and assignment between spouses of benefits accrued under a pension plan (O.C. 352-91, 91-03-20).

The spouse shall, within 60 days following the date on which the statement addressed to him was mailed, provide the Commission with the name and address of the financial institution and with 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 must be transferred.

Unless the spouse was paid otherwise, the Commission shall, 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, as long as the steps necessary for the transfer of those sums have first been taken.

Should the spouse fail to indicate his choice and to take the necessary steps within the prescribed period, the Commission shall 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 has reached an agreement to that effect.

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

T.B. 197248, s. 11.