R-12.1, r. 1 - Regulation under the Act respecting the Pension Plan of Management Personnel

Section 11.4 Disposition versions

2015-11-20

11.4. The actuarial value of the additional benefits referred to in section 188 of the Act is established on 1 January of the year in which the employee became governed by the Government and Public Employees Retirement Plan and on the basis of the assumptions used in the actuarial valuation referred to in section 171 of the Act and available before the end of the year following the year in which the employee became so governed.

The sums representing the actuarial value of the additional benefits are increased by interest calculated as of 1 January of the year in which the employee became governed by the Government and Public Employees Retirement Plan until the date the sums are transferred into the employees’ contribution fund under that retirement plan.

The sums representing the actuarial value of the additional benefits, including the related interest, are transferred not later than 31 December of the year occurring 3 years after the year of the filing of the actuarial valuation whose assumptions were used to establish the value of those benefits.

Despite the third paragraph, the sums representing the actuarial value of the additional benefits related to the benefits referred to in section 184 or 185 of the Act and acquired by an employee who, before 1 January 2015, became governed by the Government and Public Employees Retirement Plan, including the related interest, are transferred not later than 31 December 2016.

T.B. 216000, s. 3.