R-15.1, r. 6.1.01 - Regulation respecting target-benefit pension plans in certain pulp and paper sector enterprises

Section 35 Disposition versions

2013-11-21

35. Where no pension is being paid to the member as at the date of execution of the partition or transfer of pension benefits, the amount referred to in the first paragraph of section 54 of that regulation, and for which the pension committee must keep a record, is replaced by the amount calculated according to the following formula:

A × B/C

“A” represents the amount of the normal pension that would be payable to the member at normal retirement age for his recognized credited service at the date of the valuation and according to the conditions and characteristics provided for by the plan for that pension;

“B” represents the sum remitted to the spouse further to partition or a transfer, including interest;

“C” represents the value considered for the purpose of the partition or transfer of the member’s benefits.

O.C. 1052-2013, s. 35.