R-10, r. 4 - Regulation respecting the application of Title IV.2 of the Act respecting the Government and Public Employees Retirement Plan

Section 5 Disposition versions

2015-11-20

5. Except in the case of a pensioner, a person who, after 31 December 1995, ceases to be a member of the Government and Public Employees Retirement Plan, the Teachers Pension Plan or the Civil Service Superannuation Plan or, after 31 December 2000, ceases to be a member of the Pension Plan of Management Personnel and who is entitled only to a deferred pension is entitled to have transferred to a locked-in retirement account or a life income fund the higher of the following amounts, where the person applies for a pension after the expiry of 210 days from the date on which he was last a member within the meaning of his pension plan but before the earliest date on which he may anticipate payment of his deferred pension:

(1)  the total contributions, with any interest accrued up to the date on which the application is received, in accordance with his pension plan; or

(2)  the actuarial value of his pension, established on that date in accordance with the actuarial assumptions and methods prescribed in Schedule III.

Where the person referred to in the first paragraph ceases to be a member within the meaning of his pension plan in the 12 months preceding the earliest date on which he may anticipate payment of his deferred pension, he is entitled to the transfer provided for in the first paragraph after the expiry of the 210-day period prescribed therein but no later than 12 months following the date on which he ceases to be a member within the meaning of his pension plan.

For the purposes of this section,

(1)  contributions to the Government and Public Employees Retirement Plan include the sums referred to in section 50 of the Act respecting the Government and Public Employees Retirement Plan (chapter R-10), with the exception of the sums paid by the person or transferred to that plan and for which the person has obtained a pension credit, and in establishing the total of such contributions, the second paragraph of section 55 and section 58 of that Act are taken into account. In addition, where section 99 of that Act applies, the contributions and the actuarial value of the pension applying to the years and parts of a year of service credited under sections 85.1, 85.3 and 98 of that Act are excluded; and

(1.1)  contributions to the Pension Plan of Management Personnel include the amounts referred to in section 73 of the Act respecting the Pension Plan of Management Personnel (chapter R-12.1), and in establishing the total of such contributions, the second paragraph of section 77 and section 79 of that Act are taken into account. In addition, where section 140 of that Act applies, the contributions and the actuarial value of the pension relating to the years and parts of a year of service credited under sections 126, 130 and 139 of that Act are excluded;

(2)  contributions to the Teachers Pension Plan include the amounts referred to in section 58 of the Act respecting the Teachers Pension Plan (chapter R-11), and contributions to the Civil Service Superannuation Plan include the amounts referred to in section 82.1 of the Civil Service Superannuation Plan (chapter R-12).

The amount to which the first paragraph refers bears interest, compounded annually, at the rate determined in Schedule VII to the Act or, in the case of the Pension Plan of Management Personnel, at the rate determined in Schedule VIII to the Act respecting the Pension Plan of Management Personnel, in force on the date the application is received at Retraite Québec and computed from that date until the date of the transfer. In the event of death, that amount accrued with the interest is paid to the spouse or, if there is no spouse, to the successors.

In the case of the Government and Public Employees Retirement Plan and the Pension Plan of Management Personnel, the 210-day period provided for in the first and second paragraphs applies from the date on which the person ceased to be a member of either of the plans for the last time.

The expressions “locked-in retirement account” and “life income fund” have the meaning assigned to them by the Regulation respecting supplemental pension plans (chapter R-15.1, r. 6).

O.C. 690-96, s. 5; T.B. 200048, s. 2; T.B. 202421, s. 1; T.B. 216004, s. 1.

2012-09-01

5. Except in the case of a pensioner, a person who, after 31 December 1995, ceases to be a member of the Government and Public Employees Retirement Plan, the Teachers Pension Plan or the Civil Service Superannuation Plan or, after 31 December 2000, ceases to be a member of the Pension Plan of Management Personnel and who is entitled only to a deferred pension is entitled to have transferred to a locked-in retirement account or a life income fund the higher of the following amounts, where he applies therefor after the expiry of 210 days from the date on which he was last a member within the meaning of his pension plan but before the earliest date on which he may anticipate payment of his deferred pension:

(1)  the total contributions, with any interest accrued up to the date on which the application is received, in accordance with his pension plan; or

(2)  the actuarial value of his pension, established on that date in accordance with the actuarial assumptions and methods prescribed in Schedule III.

Where the person referred to in the first paragraph ceases to be a member within the meaning of his pension plan in the 12 months preceding the earliest date on which he may anticipate payment of his deferred pension, he is entitled to the transfer provided for in the first paragraph after the expiry of the 210-day period prescribed therein but no later than 12 months following the date on which he ceases to be a member within the meaning of his pension plan.

For the purposes of this section,

(1)  contributions to the Government and Public Employees Retirement Plan include the sums referred to in section 50 of the Act respecting the Government and Public Employees Retirement Plan (chapter R-10), with the exception of the sums paid by the person or transferred to that plan and for which the person has obtained a pension credit, and in establishing the total of such contributions, the second paragraph of section 55 and section 58 of that Act are taken into account. In addition, where section 99 of that Act applies, the contributions and the actuarial value of the pension applying to the years and parts of a year of service credited under sections 85.1, 85.3 and 98 of that Act are excluded; and

(1.1)  contributions to the Pension Plan of Management Personnel include the amounts referred to in section 73 of the Act respecting the Pension Plan of Management Personnel (chapter R-12.1), and in establishing the total of such contributions, the second paragraph of section 77 and section 79 of that Act are taken into account. In addition, where section 140 of that Act applies, the contributions and the actuarial value of the pension relating to the years and parts of a year of service credited under sections 126, 130 and 139 of that Act are excluded;

(2)  contributions to the Teachers Pension Plan include the amounts referred to in section 58 of the Act respecting the Teachers Pension Plan (chapter R-11), and contributions to the Civil Service Superannuation Plan include the amounts referred to in section 82.1 of the Civil Service Superannuation Plan (chapter R-12).

The amount to which the first paragraph refers bears interest, compounded annually, at the rate determined in Schedule VII to the Act or, in the case of the Pension Plan of Management Personnel, at the rate determined in Schedule VIII to the Act respecting the Pension Plan of Management Personnel, in force on the date the application is received at the Commission and computed from that date until the date of the transfer. In the event of death, that amount accrued with the interest is paid to the spouse or, if there is no spouse, to the successors.

In the case of the Government and Public Employees Retirement Plan and the Pension Plan of Management Personnel, the 210-day period provided for in the first and second paragraphs applies from the date on which the person ceased to be a member of either of the plans for the last time.

The expressions “locked-in retirement account” and “life income fund” have the meaning assigned to them by the Regulation respecting supplemental pension plans (chapter R-15.1, r. 6).

O.C. 690-96, s. 5; T.B. 200048, s. 2; T.B. 202421, s. 1.