R-11, r. 2 - Regulation respecting the partition and assignment of benefits accrued under the Teachers Pension Plan

Section 24.1 Disposition versions

2012-09-01

24.1. 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 10.1 of the Act, deemed never to have been made in respect of all the service, the amount of the teacher’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 teacher up to the date of the teacher’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 teacher at the date of assessment up to the date of the teacher’s failure to pay.

T.B. 187712, s. 15.