57. From the month following the date of a contributor’s retirement for disability reasons or from the date of his 65th birthday, the amount of any pension or annual allowance shall be reduced by 0.7% of the part of the average annual salary that does not exceed the average maximum pensionable earnings, within the meaning of the Act respecting the Québec Pension Plan (chapter R-9), for the year during which the contributor ceases to contribute regularly to this plan and for the previous 4 years, for each year of pensionable service subsequent to 1965.
Such reduction shall not reduce the pension by an amount greater than the amount of the initial pension under the Québec Pension Plan acquired by the contributor during the years in which he contributed to this plan and to which he is or would be entitled if he ceased to hold regular employment.
Notwithstanding the foregoing, where no retirement or disability benefit is payable to the contributor under the Québec Pension Plan or the Canada Pension Plan, the reduction shall cease immediately and the amount of the pension shall be adjusted accordingly where the contributor applies therefor to Retraite Québec. The sums by which the pension is reduced shall be refunded to the contributor with interest at the rate of 4% per year.
O.C. 430-93, s. 57; T.B. 213377, s. 9.