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R-9 - Act respecting the Québec Pension Plan

Section 40
Disposition versions

Full text
40. For each of the years 1966 and 1967, the amount of the Maximum Pensionable Earnings is $5,000.
For each of the years 1968 to 1972, the amount of the Maximum Pensionable Earnings is obtained by multiplying $5,000 by the ratio that the Pension Index for the year bears to the Pension Index for the year 1967.
For the years 1973, 1974 and 1975, the Maximum Pensionable Earnings shall be $5,900, $6,600 and $7,400, respectively.
For each of the years 1976 to 1987, the amount of the Maximum Pensionable Earnings for one year is equal to 112 1/2% of the Maximum Pensionable Earnings for the preceding year, until it has reached 52 times the Base Wage for the year; commencing with the year it reaches such level, it shall be equal, for each year, to 52 times the Base Wage.
For the year 1988, the amount of the Maximum Pensionable Earnings is equal to the Maximum Pensionable Earnings for the year 1987 multiplied by the ratio that the average, for the twelve-month period ending on 30 June 1987, of average weekly salaries and wages of the Industrial Composite in Canada for each month within that period, as published by Statistics Canada under the Statistics Act (Revised Statutes of Canada, 1985, chapter S-19), bears to the average, for the twelve-month period ending on 30 June 1986, of average weekly salaries and wages of the Industrial Composite in Canada for each month within that period, as published by Statistics Canada under the Statistics Act.
For the year 1989 and each subsequent year, the amount of the Maximum Pensionable Earnings is equal to the Maximum Pensionable Earnings for the preceding year, established without reference to the seventh and eighth paragraphs, multiplied by the ratio that the average, for the twelve-month period ending on 30 June of the preceding year, of average weekly salaries and wages of the Industrial Composite in Canada for each month within that period, as published by Statistics Canada under the Statistics Act bears to the average, for the twelve-month period ending with the end of June of the year immediately preceding that preceding year, of average weekly salaries and wages of the Industrial Composite in Canada for each month within that period, as published by Statistics Canada under the Statistics Act.
When the product obtained under the second, fourth, fifth and sixth paragraphs is not a multiple of $100, the next lowest multiple of $100 shall be substituted therefor.
Notwithstanding the second, fourth, fifth and sixth paragraphs, the Maximum Pensionable Earnings for a year shall not be lower than the Maximum Pensionable Earnings for the preceding year.
1965 (1st sess.), c. 24, s. 37; 1972, c. 53, s. 10; 1973, c. 16, s. 5; 1974, c. 16, s. 4; 1987, c. 14, s. 1.
40. For each of the years 1966 and 1967, the amount of the Maximum Pensionable Earnings is $5 000.
For each of the years 1968 to 1972, the amount of the Maximum Pensionable Earnings is obtained by multiplying $5 000 by the ratio that the Pension Index for the year bears to the Pension Index for the year 1967.
For the years 1973, 1974 and 1975, the Maximum Pensionable Earnings shall be $5 900, $6 600 and $7 400, respectively.
For each of the years 1976 to 1987, the amount of the Maximum Pensionable Earnings for one year is equal to 1121/2% of the Maximum Pensionable Earnings for the preceding year, until it has reached 52 times the Base Wage for the year; commencing with the year it reaches such level, it shall be equal, for each year, to 52 times the Base Wage.
For the year 1988, the amount of the Maximum Pensionable Earnings is equal to the Maximum Pensionable Earnings for the year 1987 multiplied by the ratio that the average, for the twelve-month period ending on 30 June 1987, of average weekly salaries and wages of the Industrial Composite in Canada for each month within that period, as published by Statistics Canada under the Statistics Act (Statutes of Canada, 1970-71-72, chapter 15), bears to the average, for the twelve-month period ending on 30 June 1986, of average weekly salaries and wages of the Industrial Composite in Canada for each month within that period, as published by Statistics Canada under the Statistics Act.
For the year 1989 and each subsequent year, the amount of the Maximum Pensionable Earnings is equal to the Maximum Pensionable Earnings for the preceding year, established without reference to the seventh and eighth paragraphs, multiplied by the ratio that the average, for the twelve-month period ending on 30 June of the preceding year, of average weekly salaries and wages of the Industrial Composite in Canada for each month within that period, as published by Statistics Canada under the Statistics Act bears to the average, for the twelve-month period ending with the end of June of the year immediately preceding that preceding year, of average weekly salaries and wages of the Industrial Composite in Canada for each month within that period, as published by Statistics Canada under the Statistics Act.
When the product obtained under the second, fourth, fifth and sixth paragraphs is not a multiple of $100, the next lowest multiple of $100 shall be substituted therefor.
Notwithstanding the second, fourth, fifth and sixth paragraphs, the Maximum Pensionable Earnings for a year shall not be lower than the Maximum Pensionable Earnings for the preceding year.
1965 (1st sess.), c. 24, s. 37; 1972, c. 53, s. 10; 1973, c. 16, s. 5; 1974, c. 16, s. 4; 1987, c. 14, s. 1.
40. For each of the years 1966 and 1967, the amount of the Maximum Pensionable Earnings is $5 000.
For each of the years 1968 to 1972, the amount of the Maximum Pensionable Earnings is obtained by multiplying $5 000 by the ratio that the Pension Index for the year bears to the Pension Index for the year 1967.
For the years 1973, 1974 and 1975, the Maximum Pensionable Earnings shall be $5 900, $6 600 and $7 400 respectively.
For the year 1976 and each subsequent year, the amount of the Maximum Pensionable Earnings for one year is equal to 1121/2% of the Maximum Pensionable Earnings for the preceding year, until it has reached 52 times the Base Wage for the year; commencing with the year it reaches such level, it shall be equal, for each year, to 52 times the Base Wage.
When the product obtained under the second or fourth paragraph is not a multiple of $100, the next lowest multiple of $100 shall be substituted therefor.
The Maximum Pensionable Earnings for a year shall not be lower than the Maximum Pensionable Earnings for the preceding year.
1965 (1st sess.), c. 24, s. 37; 1972, c. 53, s. 10; 1973, c. 16, s. 5; 1974, c. 16, s. 4.
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