R-12.1, r. 1 - Regulation under the Act respecting the Pension Plan of Management Personnel

Section 6.5 Disposition versions

2022-10-01

6.5. For the purposes of section 75 of the Act, the annual value of the initial pension paid to the employee is adjusted by multiplying it by the percentage obtained by dividing the value “A” by the value “B”, where

“A” corresponds to the actuarial value at the employee’s retirement age; and

“B” corresponds to the actuarial value at age 65.

The actuarial value is determined using the “benefit allocation” actuarial method.

For the Pension Plan of Management Personnel, the actuarial value corresponds to the sum of 40% of the actuarial value determined for a male and 60% of the actuarial value determined for a female.

For the Special provisions in respect of classes of employees designated under section 23 of the Act respecting the Pension Plan of Management Personnel (chapter R-12.1, r. 2), the actuarial value corresponds to the sum of 50% of the actuarial value determined for a male and 50% of the actuarial value determined for a female.

The economic assumptions are established based on the rates and returns of bond indexes, as described in the CIA Standard, applicable to the second calendar month preceding the month in which the valuation took place, rather than those applicable to the preceding month.

T.B. 203095, s. 1; T.B. 226431, s. 4.

2012-09-01

6.5. For the purposes of section 75 of the Act, the annual value of the initial pension paid to the employee is adjusted by multiplying it by the percentage obtained by dividing the value “A” by the value “B”, where

“A” corresponds to the actuarial value at the employee’s retirement age; and

“B” corresponds to the actuarial value at age 65.

The actuarial value is determined using the “benefit allocation” actuarial method and the actuarial value corresponds to the sum of 50% of the actuarial value determined for a male and 50% of the actuarial value determined for a female.

T.B. 203095, s. 1.