R-9.1, r. 1 - Regulation respecting the application of the Act respecting the Pension Plan of Certain Teachers

Section 0.3 Disposition versions

2012-09-01

0.3. For the purposes of sections 0.1 and 0.2:

BRSR represents the pension granted under section 19 of the Act increased by the amounts provided for in section 20 of the Act taking into account any applicable actuarial reduction;

BRCOSR represents BRSR less the amount of the pension reduction applicable from the month following the person’s sixty-fifth birthday in accordance with section 24 of the Act;

CRRR represents:

(1)  the amount of the pension credit on the date of retirement including the increase referred to in sections 89 and 107.1 of the Act respecting the Government and Public Employees Retirement Plan (chapter R-10) and takes into account any applicable actuarial reduction;

(2)  the amount of the paid-up annuity certificate indicated on the statement of benefits taking into account, if applicable, an actuarial reduction of 0.5% per month calculated for each month included between the date of retirement and the person’s sixty-fifth birthday;

(3)  the value of the pension credit attributed to the amounts corresponding to the years or parts of years recognized for purposes of eligibility and transferred into a locked-in retirement account (LIRA) calculated as follows:

(balance of the LIRA on the date of designation of the employer in Schedule I to the Act respecting the Government and Public Employees Retirement Plan x (5))

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(value of a $10 annual pension credit payable monthly as of age 65 according to Table II of Schedule IV.3 to the Regulation under the Act respecting the Government and Public Employees Retirement Plan (chapter R-10, r. 2) and taking into account the age of the employee on the date of designation of the employer in Schedule I to the Act.)

The value attributed to the pension credit shall include the rate of any increase referred to in section 89 of the Act respecting the Government and Public Employees Retirement Plan, between the date of designation of the employer in Schedule I and the date of retirement and taking into account, if applicable, an actuarial reduction of 0.5% per month calculated for each month between the date of retirement and the person’s sixty-fifth birthday;

F represents 1 less the percentage of the actuarial reduction applicable to the pension of the person;

MGA represents the average Maximum Pensionable Earnings within the meaning of the Act respecting the Québec Pension Plan (chapter R-9);

N represents the number of years or parts of years referred to in the first paragraph of section 35.9 of the Act;

NA represents the number of years giving entitlement to 1.6% of the pensionable salary under section 20 of the Act;

NN represents the number of years necessary to reach the limit provided for in the first paragraph of section 22 of the Act;

TM represents the average pensionable salary determined in accordance with section 19 of the Act.

T.B. 195703, s. 1; T.B. 203094, s. 1; T.B. 208554, s. 2.