R-15.1 - Supplemental Pension Plans Act

Section 82.1 Disposition versions

2020-12-11

82.1. Notwithstanding section 58, the plan may provide that payment of the disability pension is interrupted when the member ceases to be disabled within the meaning of the plan.

The value of the benefits accumulated by the member in respect of service credited under the plan before payment of the disability pension begins shall not, at the time payment of the pension is interrupted, be less than the amount m calculated according to the following formula:

                     b
                a x ___ = m
      
                     c            

where

“a” represents the value of the benefits accumulated by the member on the date on which payment of the disability pension begins, established regardless of the value of that pension, but, in the case of a target benefit plan, taking into account any adjustment resulting from any recovery measures, restoration of benefits or appropriation of surplus assets between that date and the date on which payment of the disability pension is interrupted;

“b” represents the value of a pension of $1 paid annually beginning on the date on which payment of the disability pension is interrupted and on each anniversary date thereafter;

“c” represents the value of a pension of $1 paid annually beginning on the date on which payment of the disability pension begins and on each anniversary date thereafter.

Values are established on the date on which payment of the disability pension is interrupted, on the basis of the assumptions referred to in section 61 that were applicable on that date.

1994, c. 24, s. 5; 2000, c. 41, s. 46; 2020, c. 30, s. 26.

2001-01-01

82.1. Notwithstanding section 58, the plan may provide that payment of the disability pension is interrupted when the member ceases to be disabled within the meaning of the plan.

The value of the benefits accumulated by the member in respect of service credited under the plan before payment of the disability pension begins shall not, at the time payment of the pension is interrupted, be less than the amount m calculated according to the following formula:

                     b
                a x ___ = m
      
                     c            

where

“a” represents the value of the benefits accumulated by the member on the date on which payment of the disability pension begins, established regardless of the value of that pension;

“b” represents the value of a pension of $1 paid annually beginning on the date on which payment of the disability pension is interrupted and on each anniversary date thereafter;

“c” represents the value of a pension of $1 paid annually beginning on the date on which payment of the disability pension begins and on each anniversary date thereafter.

Values are established on the date on which payment of the disability pension is interrupted, on the basis of the assumptions referred to in section 61 and used on that date to determine the value of the pension benefits to which section 60 applies.

1994, c. 24, s. 5; 2000, c. 41, s. 46.

1994-06-17

82.1. Notwithstanding section 58, the plan may provide that payment of the disability pension is interrupted when the member ceases to be disabled within the meaning of the plan.

The value of the benefits accumulated by the member in respect of service credited under the plan before payment of the disability pension begins shall not, at the time payment of the pension is interrupted, be less than the amount m calculated according to the following formula:

                           b
                      a x --- = m
                           c

where

“a” represents the value of the benefits accumulated by the member on the date on which payment of the disability pension begins, established regardless of the value of that pension;

“b” represents the value of a pension of $1 paid annually beginning on the date on which payment of the disability pension is interrupted and on each anniversary date thereafter;

“c” represents the value of a pension of $1 paid annually beginning on the date on which payment of the disability pension begins and on each anniversary date thereafter.

Values are established on the date on which payment of the disability pension is interrupted, according to actuarial assumptions and methods identical to those transmitted to the Régie ans used on that date to determine the value of the pension benefits to which section 60 applies.

1994, c. 24, s. 5.