R-15.1, r. 4 - Regulation respecting measures to reduce the effects of the financial crisis on pension plans covered by the Supplemental Pension Plans Act

Section 18 Disposition versions

2012-09-01

18. Despite section 128 of the Act, enacted by section 11 of chapter 42 of the Statutes of 2006, amortization payments remaining to be paid in respect of a technical actuarial deficiency determined by taking into account the funding relief measures and determined on the date of the actuarial valuation referred to in section 2 may be reduced by the actuarial gains determined in accordance with the second paragraph of that section 128, taking into account section 17 of this Regulation.

If the pension committee was given instructions to apply the measure provided for in paragraph 1 of section 2, the allocation of actuarial gains authorized by the first paragraph applies in respect of any technical actuarial deficiency determined by taking into account the funding relief measures and determined on the date of the actuarial valuation referred to in section 2 or on a later date. The reduction of amortization payments is applied beginning with the earliest deficiency and ending with the most recent.

Any reduction in amortization payments related to a deficiency must be applied proportionately.

O.C. 1153-2009, s. 18.