R-12.1, r. 2 - Special provisions in respect of classes of employees designated under section 23 of the Act respecting the Pension Plan of Management Personnel

Section 26 Disposition versions

2019-07-01

26. A person to whom a pension is payable under this Order in Council shall receive the amount of pension arising from the years and parts of a year of service credited under the former pension plan. The amount of the pension, computed in accordance with the provisions of the pension plan and section 27, is reduced by 0.25% per month, computed for each month comprised between the date on which the pension becomes payable and the nearest date on which it would otherwise have been granted without actuarial reduction under the pension plan or, if any of paragraphs 1 to 11 of Schedule II applies or applied to the person, under paragraph 3 of section 6. For the purpose of computing the reduction, all years of service counted or credited to the person at the time the person ceases to be a member of the plan must be taken into account.

However, for the purposes of the first paragraph, where the person benefits from the provisions of section 23, the amount of the pension or deferred pension payable under the former pension plan is reduced by the lesser of

(1)  the amount determined under the first paragraph, without adding the benefit provided for in section 23 to the person’s age and years of service; and

(2)  the amount provided for in the second paragraph of section 7.

For the purposes of the first paragraph and, where applicable, for the purposes of the provisions to which the second paragraph refers, if the person was entitled to a pension under section 15, the amount of the reduction is computed according to the number of months comprised between the date on which the amount of the pension is payable to the person and the date on which it would otherwise have been granted to the person under the former pension plan or, if any of paragraphs 1 to 11 of Schedule II applies or applied to the person, under paragraph 3 of section 6.

For the purposes of this section with respect to a person if any of paragraphs 1 to 11 of Schedule II applies or applied to the person whose former pension plan is the pension plan of management personnel, section 49 of the Act, as it reads on 30 June 2019, applies for the determination of the nearest date on which the pension payable would have been granted without actuarial reduction pursuant to the former pension plan.

O.C. 960-2003, s. 26; O.C. 688-2018, s. 4.

2012-09-01

26. A person to whom a pension is payable under this Order in Council shall receive the amount of pension arising from the years and parts of a year of service credited under the former pension plan. The amount of the pension, computed in accordance with the provisions of the pension plan and section 27, is reduced by 0.25% per month, computed for each month comprised between the date on which the pension becomes payable and the nearest date on which it would otherwise have been granted without actuarial reduction under the pension plan or, if any of paragraphs 1 to 11 of Schedule II applies or applied to the person, under paragraph 3 of section 6. For the purpose of computing the reduction, all years of service counted or credited to the person at the time the person ceases to be a member of the plan must be taken into account.

However, for the purposes of the first paragraph, where the person benefits from the provisions of section 23, the amount of the pension or deferred pension payable under the former pension plan is reduced by the lesser of

(1)  the amount determined under the first paragraph, without adding the benefit provided for in section 23 to the person’s age and years of service; and

(2)  the amount provided for in the second paragraph of section 7.

For the purposes of the first paragraph and, where applicable, for the purposes of the provisions to which the second paragraph refers, if the person was entitled to a pension under section 15, the amount of the reduction is computed according to the number of months comprised between the date on which the amount of the pension is payable to the person and the date on which it would otherwise have been granted to the person under the former pension plan or, if any of paragraphs 1 to 11 of Schedule II applies or applied to the person, under paragraph 3 of section 6.

O.C. 960-2003, s. 26.