R-9.2, r. 3 - Regulation respecting the partition and assignment of benefits accrued under the Pension Plan of Peace Officers in Correctional Services

Section 16 Disposition versions

2019-01-01

16. If the amount paid to the spouse results from entitlement to a refund of contributions, a differed pension or a pension credit, the benefits of the employee or former employee are established in accordance with the Act and recalculated as follows:

(1)  where the employee or former employee is entitled to a contribution refund, to the payment of an actuarial value or to the transfer of an amount under a transfer agreement entered into pursuant to section 133 of the Act, the amount of the contributions refunded, of the payment of the actuarial value or of the transfer is reduced by the sums attributed to the spouse at the date of the valuation, with interest compounded annually at a rate which is determined for each period in accordance with Schedule II of the Act. The interest is accrued from the date of the valuation to the date on which the refund, payment or transfer is made. Furthermore, in the case of a pension credit, the calculation must be separate. However, no interest is calculated on the part of the sums resulting from years or parts of a year of service accrued under the pension fund for officers of education established by Part VIII of the Education Act (R.S.Q. 1964, c. 235), the Teachers Pension Plan or the Civil Service Superannuation Plan, if those years or parts of a year of service were transferred to the Pension Plan of Peace Officers in Correctional Services other than on an actuarially equivalent basis;

(2)  where the employee or former employee is entitled to a deferred pension, a pension or a pension credit, his pension or pension credit is reduced, from the date on which it becomes payable or is paid, as the case may be, by the amount of the pension or pension credit that would be obtained from the sums attributed to the spouse at the date of the valuation.

O.C. 839-91, s. 16; T.B. 220172, s. 14.

2012-09-01

16. If the amount paid to the spouse comes from an entitlement to a refund of contributions or to a deferred pension, the benefits of the employee or former employee shall be established in accordance with the Act and shall be recalculated as follows:

(1)  where the employee or former employee is entitled to a refund of contributions, the amount of his refund shall be reduced by the sums awarded to the spouse at the date of assessment with interest compounded annually at a rate determined for each period under Schedule VI to the Act respecting the Government and Public Employees Retirement Plan (chapter R-10) and accrued from 1 July of the year of assessment to the first day of the month during which the refund is issued. Notwithstanding the foregoing, no interest is calculated on the portion of those sums that comes from years or parts of a year of service relative to the pension fund for officers of education established by Part VIII of the Education Act (R.S.Q. 1964, c. 235), the Teachers Pension Plan or the Civil Service Superannuation Plan, if those years or parts of a year of service were transferred to this plan otherwise than on an actuarially equivalent basis;

(2)  where the employee or former employee is entitled to transfer an amount under an agreement of transferability entered into in accordance with section 133 of the Act, that amount shall be reduced by the amount that, at the date on which that employee ceases or that former employee ceased to be a member or, where applicable, at any other date specified in that agreement, corresponds to the value of the deferred pension that would have been obtained on the basis of the sums awarded to the spouse at the date of assessment;

(3)  where the employee or former employee is entitled to a deferred pension or a pension, his pension shall be reduced, from the date on which it becomes payable or from the date of payment, as the case may be, by the amount of deferred pension that would be obtained on the basis of the sums awarded to the spouse at the date of assessment.

O.C. 839-91, s. 16.