R-9.2 - Act respecting the Pension Plan of Peace Officers in Correctional Services

Section 41.12 Disposition versions

2016-01-01

41.12. Retraite Québec must transfer to a locked-in retirement account, for the employee or person referred to in section 8.7 or 8.8, the actuarial value of the additional benefits referred to in section 66.1 and the actuarial value of the supplementary benefits referred to in section 66.4, determined on the date membership in this plan ceased, established in accordance with section 8.7 or 8.8.

The actuarial values of the benefits are established on the basis of actuarial assumptions and methods determined by regulation, which may vary with the benefits concerned.

The amount transferred under the first paragraph bears interest, compounded annually, at the rates determined in Schedule II, computed from the date on which the employee ceases to be a member of the plan until the date the amount is transferred. In the event of death, the amount accrued with interest is paid to the spouse or, if there is no spouse, to the successors.

The amount to be transferred may not exceed the limit established under the Income Tax Act (Revised Statutes of Canada, 1985, chapter 1, 5th Supplement). If the amount exceeds the limit, the excess amount is refunded to the employee. In the event of death, the excess amount is paid to the spouse or, if there is no spouse, to the successors.

For the purposes of this Act, the expression “locked-in retirement account” has the meaning assigned it by the Regulation respecting supplemental pension plans (chapter R-15.1, r. 6).

2004, c. 39, s. 6; 2006, c. 55, s. 7; 2013, c. 9, s. 11; 2015, c. 20, s. 61.

2013-05-23

41.12. The Commission must transfer to a locked-in retirement account, for the employee or person referred to in section 8.7 or 8.8, the actuarial value of the additional benefits referred to in section 66.1 and the actuarial value of the supplementary benefits referred to in section 66.4, determined on the date membership in this plan ceased, established in accordance with section 8.7 or 8.8.

The actuarial values of the benefits are established on the basis of actuarial assumptions and methods determined by regulation, which may vary with the benefits concerned.

The amount transferred under the first paragraph bears interest, compounded annually, at the rates determined in Schedule II, computed from the date on which the employee ceases to be a member of the plan until the date the amount is transferred. In the event of death, the amount accrued with interest is paid to the spouse or, if there is no spouse, to the successors.

The amount to be transferred may not exceed the limit established under the Income Tax Act (Revised Statutes of Canada, 1985, chapter 1, 5th Supplement). If the amount exceeds the limit, the excess amount is refunded to the employee. In the event of death, the excess amount is paid to the spouse or, if there is no spouse, to the successors.

For the purposes of this Act, the expression “locked-in retirement account” has the meaning assigned it by the Regulation respecting supplemental pension plans (chapter R-15.1, r. 6).

2004, c. 39, s. 6; 2006, c. 55, s. 7; 2013, c. 9, s. 11.

2011-07-01

41.12. The Commission must transfer to a locked-in retirement account, for the employee or person referred to in section 8.7 or 8.8, the actuarial value of the additional benefits referred to in section 66.1 and the actuarial value of the supplementary benefits referred to in section 66.4, determined on the date membership in this plan ceased, established in accordance with section 8.7 or 8.8.

The actuarial values of the benefits are established on the basis of actuarial assumptions and methods determined by regulation, which may vary with the benefits concerned.

The amount transferred under the first paragraph bears interest, compounded annually, at the rates determined in Schedule VI to the Act respecting the Government and Public Employees Retirement Plan (chapter R-10), computed from the date on which the employee ceases to be a member of the plan until the date the amount is transferred. In the event of death, the amount accrued with interest is paid to the spouse or, if there is no spouse, to the successors.

The amount to be transferred may not exceed the limit established under the Income Tax Act (Revised Statutes of Canada, 1985, chapter 1, 5th Supplement). If the amount exceeds the limit, the excess amount is refunded to the employee. In the event of death, the excess amount is paid to the spouse or, if there is no spouse, to the successors.

For the purposes of this Act, the expression “locked-in retirement account” has the meaning assigned it by the Regulation respecting supplemental pension plans (chapter R-15.1, r. 6).

2004, c. 39, s. 6; 2006, c. 55, s. 7.

2006-12-14

41.12. The Commission must transfer to a locked-in retirement account, for the employee or person referred to in section 8.7 or 8.8, the actuarial value of the additional benefits referred to in section 66.1 and the actuarial value of the supplementary benefits referred to in section 66.4, determined on the date membership in this plan ceased, established in accordance with section 8.7 or 8.8.

The actuarial values of the benefits are established on the basis of actuarial assumptions and methods determined by regulation, which may vary with the benefits concerned.

The amount transferred under the first paragraph bears interest, compounded annually, at the rates determined in Schedule VI to the Act respecting the Government and Public Employees Retirement Plan (chapter R-10), computed from the date on which the employee ceases to be a member of the plan until the date the amount is transferred. In the event of death, the amount accrued with interest is paid to the spouse or, if there is no spouse, to the successors.

The amount to be transferred may not exceed the limit established under the Income Tax Act (Revised Statutes of Canada, 1985, chapter 1, 5th Supplement). If the amount exceeds the limit, the excess amount is refunded to the employee. In the event of death, the excess amount is paid to the spouse or, if there is no spouse, to the successors.

For the purposes of this Act, the expression “locked-in retirement account” has the meaning assigned it by the Regulation respecting supplemental pension plans approved by Order in Council 1158-90 (1990, G.O. 2, 2318).

2004, c. 39, s. 6; 2006, c. 55, s. 7.

2005-01-01

41.12. The Commission must transfer to a locked-in retirement account, for the employee or person referred to in section 8.7 or 8.8, the actuarial value of the additional benefits referred to in section 66.1 and the actuarial value of the supplementary benefits referred to in section 66.4, determined on the date membership in this plan ceased, established in accordance with section 8.7 or 8.8.

The actuarial values of the benefits are established on the basis of actuarial assumptions and methods determined by regulation, which may vary with the benefits concerned.

The amount transferred under the first paragraph bears interest, compounded annually, at the rates determined for each period in Schedule VI to the Act respecting the Government and Public Employees Retirement Plan (chapter R-10), computed from the date on which the employee ceases to be a member of the plan until the date the amount is transferred. In the event of death, the amount accrued with interest is paid to the spouse or, if there is no spouse, to the successors.

The amount to be transferred may not exceed the limit established under the Income Tax Act (Revised Statutes of Canada, 1985, chapter 1, 5th Supplement). If the amount exceeds the limit, the excess amount is refunded to the employee. In the event of death, the excess amount is paid to the spouse or, if there is no spouse, to the successors.

For the purposes of this Act, the expression “locked-in retirement account” has the meaning assigned it by the Regulation respecting supplemental pension plans approved by Order in Council 1158-90 (1990, G.O. 2, 2318).

2004, c. 39, s. 6.