R-15.1, r. 6 - Regulation respecting supplemental pension plans

Full text
60.3. (Revoked).
O.C. 1073-2009, s. 42; 1183-2017O.C. 1183-2017, s. 39.
60.3. The provision for adverse deviation is equal to amount “P” in the following formula:
(T x R) + (7% x S) + X = P
“T” represents the rate, expressed in percentage, obtained by multiplying “D” determined in accordance with section 60.4 by 0.0175;
“R” represents the value of the liabilities associated to the pensions being paid, excluding guaranteed pensions, increased, if the policies established by the pension committee so provide, by the value of the benefits of the members in the pension plan who are less than 10 years under normal retirement age and to whom no pension is paid, the latter value excluding here the value of the contributions referred to in paragraphs 1 and 2 of “S” paid by those members and the value of the guaranteed pensions constituted in their respect;
“S” represents the value of the plan’s liabilities reduced by an amount representing the sum of the following values:
(1)  the value of the additional voluntary contributions and optional ancillary contributions paid into the pension fund, with interest accrued;
(2)  the value of the contributions paid under a defined contribution plan to which Chapter X of the Act applies or under provisions that, in a defined benefit plan, are identical to the provisions of a defined contribution plan, with interest accrued;
(3)  the value of the liabilities associated to the pensions being paid increased, if the policies established by the pension committee so provide, by the value of the benefits of the members in the plan who are less than 10 years under normal retirement age and to whom no pension is paid, the latter value excluding here the value of the contributions referred to in paragraphs 1 and 2 paid by those members;
(4)  the value of the liabilities associated to the guaranteed deferred pensions not referred to in paragraph 3;
“X” represents
(1)  in the case where the rate represented by “T” is less than 7%, the result of the formula
(R-V) x (7% - T)
in which “V” is equal to the element “V” in section 60.4;
(2)  in the other cases, zero.
O.C. 1073-2009, s. 42.