R-15.1 - Supplemental Pension Plans Act

Section 291 Disposition versions

2001-01-01

291. The value of the benefits to which section 60 does not apply and to which a member or a beneficiary is entitled in respect of service credited under the plan before 1 January 1990 shall be equal to or greater than the member contributions paid into the plan by the member before that date, with interest accrued to the date on which the value of the benefit is determined, calculated at the rate provided under the plan for the period prior to 1 January 1990 and, subject to the provisions of section 45.1, at the rate referred to in section 44 for the subsequent period.

The value of the benefit shall be determined at the date on which the member or beneficiary becomes entitled thereto, on the basis of the assumptions referred to in section 61 which are applicable to determine the value of other benefits vested at that date in respect of service credited after 31 December 1989.

1989, c. 38, s. 291; 1992, c. 60, s. 51; 2000, c. 41, s. 180.

1999-04-01

291. The value of the benefits to which section 60 does not apply and to which a member or a beneficiary is entitled in respect of service credited under the plan before 1 January 1990 shall be equal to or greater than the member contributions paid into the plan by the member before that date, with interest accrued to the date on which the value of the benefit is determined, calculated at the rate provided under the plan for the period prior to 1 January 1990 and, subject to the provisions of section 45.1, at the rate referred to in section 44 for the subsequent period.

The value of the benefit shall be determined at the date on which the member or beneficiary becomes entitled thereto, on the basis of those actuarial assumptions and methods referred to in section 61 which are applicable to determine the value of other benefits vested at that date in respect of service credited after 31 December 1989.

1989, c. 38, s. 291; 1992, c. 60, s. 51.

1990-01-01

291. The value of the benefits to which section 60 does not apply and to which a member or a beneficiary is entitled in respect of service credited under the plan before 1 January 1990 shall be equal to or greater than the member contributions paid into the plan by the member before that date, with interest accrued to the date on which the value of the benefit is determined, calculated at the rate provided under the plan for the period prior to 1 January 1990 and at the rate referred to in section 44 for the subsequent period.

The value of the benefit shall be determined at the date on which the member or beneficiary becomes entitled thereto, on the basis of those actuarial assumptions and methods referred to in section 61 which are applicable to determine the value of other benefits vested at that date in respect of service credited after 31 December 1989.

1989, c. 38, s. 291.