R-12.1 - Act respecting the Pension Plan of Management Personnel

Section 211.3 Disposition versions

2017-05-11

211.3. Computation of the actuarial values under the following provisions must take into account, as of the retirement age determined in the actuarial assumption, the six-year absence of indexation of a pension:

(1)  section 5 of the Regulation respecting the application of Title IV.2 of the Act respecting the Government and Public Employees Retirement Plan (chapter R-10, r. 4) where it applies to this plan, section 80 in the case of a deferred pension, and section 88, to the extent that an application is received by Retraite Québec after 7 February 2017 and before 1 July 2019;

(2)  sections 68 and 74 to the extent that the employee’s death occurs after 7 February 2017 and before 1 July 2019;

(3)  section 164 to the extent that the date of the application for the statement of the value of the benefits accrued under this plan is received by Retraite Québec after 7 February 2017 and before 1 July 2019, unless the application concerns a person who was a pensioner under this plan on the date of the valuation of the benefits; and

(4)  section 167 to the extent that the benefits due as pensions or refunds become payable before 1 July 2019 following an application referred to in subparagraph 3.

The computation of actuarial values that is referred to in the first paragraph must also take into account, following the absence of indexation, that the pension is indexed every year as follows:

(1)  for the part attributable to service prior to 1 July 1982, by one-half of the rate of increase in the Pension Index determined by the Act respecting the Québec Pension Plan (chapter R-9);

(2)  for the part attributable to service subsequent to 30 June 1982 but prior to 1 January 2000, by the excess of the rate of increase in the Pension Index over 3%; and

(3)  for the part attributable to service subsequent to 31 December 1999, according to the formula provided in subparagraph 2 of this paragraph or by one-half of the rate of increase in the Pension Index, whichever is more advantageous.

Despite the second paragraph, the computation of actuarial values that is referred to in the first paragraph and that concerns pension amounts added under sections 104 and 105 must take into account, following the absence of indexation, that the pension is indexed every year by the excess of the rate of increase in the Pension Index over 3%.

The computation of actuarial values that is referred to in the first, second and third paragraphs must also take into account sections 49, 50.3 and 56, as they read on 8 February 2017.

The computation of actuarial values that is referred to in section 167 must not take the absence of indexation into account for benefits due as pensions or refunds that become payable after 30 June 2019 following an application referred to in subparagraph 3 of the first paragraph, nor must it take into account the indexation referred to in the second and third paragraphs.

This section applies only to actuarial values paid in accordance with the second paragraph of section 180 or the first paragraph of section 181.

This section applies despite any regulatory provision to the contrary.

2017, c. 7, s. 21.