120.2. The basic monthly amount of retirement pension of a contributor is reduced by 0.5% for each month for which he received, between the age of 60 and 65, a disability pension under this Act or a similar plan.
The basic monthly amount of the retirement pension that becomes payable to a contributor after 31 December 2013 is reduced by 0.5%, to which is added an adjustment factor multiplied by the ratio between 25% of the average base monthly pensionable earnings of the contributor, calculated as provided in sections 116.1 to 116.5, for the year in which the retirement pension becomes payable and the maximum base monthly retirement pension for the year, calculated as provided in section 116.6, for each month for which the contributor received, between the age of 60 and 65, a disability pension under this Act or a similar plan.
For the purposes of this section, the adjustment factor is 0.03% if the retirement pension becomes payable in 2014, 0.06% if it becomes payable in 2015 and 0.1% if it becomes payable in 2016 or in any subsequent year.
The reduction, however, does not apply to a contributor who has become disabled, within the meaning of section 96, before 1 January 1999.
1997, c. 73, s. 45; 2011, c. 18, s. 3; 2018, c. 22018, c. 2, s. 6711.