R-10 - Act respecting the Government and Public Employees Retirement Plan

Section 124 Disposition versions

2016-01-01

124. If, following the actuarial valuation of a supplemental pension plan, Retraite Québec considers that the contributory amount of the employer is greater than the contribution of the employees, the contribution shall be increased by 0.25% per year from 1 July 1982 or, if the body was not already subject, from the date on which it becomes subject or from any later date determined by regulation, until the contribution of the employee, taking into account the contribution to the Québec Pension Plan, reaches 6.25%. The contributory amount of the employer shall be reduced in the same proportion per year.

However, if the amount of the retirement pension is established on a basis more advantageous than the average pensionable salary for the 5 best remunerated years or if the maximum percentage of the average pensionable salary serving as the basis of computation of the pension is greater than 70% or if the pension is adjusted by indexing after retirement, the contribution of the employee shall be increased by the same percentage per year until it reaches one-half of the cost of the plan without taking into account the limit of 6.25%.

1973, c. 12, s. 111; 1977, c. 21, s. 34; 1983, c. 24, s. 1; 2004, c. 39, s. 134; 2015, c. 20, s. 61.

2005-01-01

124. If, following the actuarial valuation of a supplemental pension plan, the Commission considers that the contributory amount of the employer is greater than the contribution of the employees, the contribution shall be increased by 0.25% per year from 1 July 1982 or, if the body was not already subject, from the date on which it becomes subject or from any later date determined by regulation, until the contribution of the employee, taking into account the contribution to the Québec Pension Plan, reaches 6.25%. The contributory amount of the employer shall be reduced in the same proportion per year.

However, if the amount of the retirement pension is established on a basis more advantageous than the average pensionable salary for the 5 best remunerated years or if the maximum percentage of the average pensionable salary serving as the basis of computation of the pension is greater than 70% or if the pension is adjusted by indexing after retirement, the contribution of the employee shall be increased by the same percentage per year until it reaches one-half of the cost of the plan without taking into account the limit of 6.25%.

1973, c. 12, s. 111; 1977, c. 21, s. 34; 1983, c. 24, s. 1; 2004, c. 39, s. 134.

1983-07-01

124. If, following the actuarial valuation of a supplemental pension plan, the Commission considers that the contributory amount of the employer is greater than the contribution of the employees, the contribution shall be increased by 0.25 % per year from 1 July 1982 or, if the body was not already subject, from the date on which it becomes subject or from any later date determined by regulation, until the contribution of the employee, taking into account the contribution to the Québec Pension Plan, reaches 6.25 %. The contributory amount of the employer shall be reduced in the same proportion per year.

However, if the amount of the retirement pension is established on a basis more advantageous than the average salary for the 5 best remunerated years or if the maximum percentage of the average salary serving as the basis of computation of the pension is greater than 70 % or if the pension is adjusted by indexing after retirement, the contribution of the employee shall be increased by the same percentage per year until it reaches one-half of the cost of the plan without taking into account the limit of 6.25 %.

1973, c. 12, s. 111; 1977, c. 21, s. 34; 1983, c. 24, s. 1.

1977-12-31

124. Separate accounting shall be kept for contributions, contributory amounts, and interest from the acquisition of pension credit from previous service of an employee under a pension plan to which he has contributed.

1973, c. 12, s. 111; 1977, c. 21, s. 34.