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

Section 53.1 Disposition versions

2010-01-01

53.1. For the purposes of section 50.3, the annualization of salaries for the years of service prior to 2010 are obtained,

(1)  when computing the average pensionable salary referred to in subparagraph 1 of the first paragraph of section 50.2, by dividing the pensionable salary for such a year by the service credited, except service credited under section 111; and

(2)  when computing the average pensionable salary referred to in subparagraph 2 of the first paragraph of section 50.2, by dividing the pensionable salary for such a year by the service credited, except service credited under section 111. The limit imposed by the first paragraph of section 30 applies to the result obtained for each year.

The pensionable salary for each year, referred to in subparagraphs 1 and 2 of the first paragraph, is the pensionable salary established under sections 25 to 29. Despite sections 25.1 and 26, the pensionable salary paid in 2008 or 2009 for which no service is credited forms part of the pensionable salary for the last year during which service is credited and which is prior to the year during which the pensionable salary is paid.

However, if a lump sum included in the pensionable salary established under the second paragraph is paid in 2007 or a subsequent year as an increase in or adjustment to the salary for a previous year, it must be subtracted from the pensionable salary for the year during which it is paid. In addition, a lump sum attributed to a given year under section 53.20 must be added to the pensionable salary for that year.

For the purposes of the first paragraph, all the years and parts of a year of service credited must be counted, but service credited under sections 123, 125 and 126 may not be counted in respect of service credited before 1 January 1992.

2008, c. 25, s. 87.