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10.1. For the purposes of this section, “CIA Standard” means the Standard of Practice for Determining Pension Commuted Values confirmed by the board of directors of the Canadian Institute of Actuaries on 15 June 2004.

The actuarial values of the benefits referred to in sections 138.1 and 138.7 of the Act are determined using the following actuarial method and assumptions:

Actuarial method

The actuarial method is the “projected benefit method” pro rated on service.

In the case of section 138.1, the pensionable salary of the pension plans involved in the transfer is the salary that is taken into account to determine the average pensionable salary used to calculate the pension.

Actuarial assumptions

(1) Mortality rates:

The mortality rates are determined in accordance with the CIA Standard.

(2) Interest rates:

For fully-indexed and non-indexed benefits:

The interest rates are those determined in accordance with the CIA Standard.

For partially indexed benefits:

The interest rates are determined according to the following formula:

((1 + interest rate for a non-indexed benefit)/(1 + indexing rate for a partially-indexed benefit) - 1

The result must be rounded to the nearest multiple of 0.25%.

(3) Indexing rate:

(a) for a fully-indexed benefit according to the rate of increase in the pension index, the indexing rate is computed in the manner described in the CIA Standard;

(b) for a benefit indexed according to the excess of the rate of increase in the pension index (PI) over 3% or to half of the rate of increase in the pension index, the indexing rate corresponds respectively to the excess of the indexing rate computed in the manner provided in subparagraph a over 3% or to half the indexing rate computed in the manner provided in that subparagraph.

In order to take into account the inflation rate variations, the following additions are made to the results of effective indexing formulas for actuarial value computation purposes.

Inflation level | Addition to the result of the PI-3% formula | Adjusted indexing rate | Addition to the result of the 50% PI, min. PI-3% formula | Adjusted indexing rate |

0.5 | 0.1 | 0.1 | 0.05 | 0.3 |

1.0 | 0.1 | 0.1 | 0.10 | 0.6 |

1.5 | 0.3 | 0.3 | 0.15 | 0.9 |

2.0 | 0.5 | 0.5 | 0.20 | 1.2 |

2.5 | 0.7 | 0.7 | 0.15 | 1.4 |

3.0 | 1.0 | 1.0 | 0.20 | 1.7 |

3.5 | 0.8 | 1.3 | 0.25 | 2.0 |

4.0 | 0.6 | 1.6 | 0.30 | 2.3 |

4.5 | 0.5 | 2.0 | 0.45 | 2.7 |

5.0 | 0.4 | 2.4 | 0.50 | 3.0 |

(4) Turnover rate: Nil

(5) Disability rate: Nil

(6) Proportion of employees with a spouse at retirement:

Males: 85%

Females: 60%

(7) Age of spouse at retirement:

— the male spouse of the member is assumed to be 2 years older;

— the female spouse of the member is assumed to be 3 years younger;

(8) Rate of increase of the MPE:

The annual increase in the maximum pensionable earnings within the meaning of the Québec Pension Plan corresponds to the annual rate of inflation plus 1%.

(9) Rate of increase of salaries

The annual increase in salaries corresponds to the annual increase of the MPE, increased by the annual rate of salary increase.

For the Pension Plan of Peace Officers in Correctional Services

Years of service | Annual rate of increase |

0 year | 2.50% |

1-6 years | 4.30% |

7 years | 2.50% |

8-10 years | 0.80% |

11-20 years | 0.60% |

21-30 years | 0.30% |

31 years and over | 0% |

For the Pension Plan of Management Personnel

Age | Annual rate of increase |

18-36 years | 3.30% |

37-38 years | 3.10% |

39-41 years | 2.20% |

42-44 years | 1.70% |

45-49 years | 1.50% |

50-54 years | 1.20% |

55 years and over | 0.90% |

For the Pension Plan of the members of the Sûreté du Québec

Years of service | Annual rate of increase |

0-1 year | 11.80% |

2 years | 13.20% |

3 years | 11.50% |

4 years | 8.90% |

5 years | 8.60% |

6 years | 6.00% |

7-9 years | 0.75% |

10 years | 1.50% |

11-13 years | 0.75% |

14 years | 2.00% |

15-20 years | 0.50% |

21 years | 2.00% |

22 years or more | 0.50% |

(10) Rate of increase in the Tax Act defined benefit limit:

The annual increase of Tax Act defined benefit limits corresponds to that of the maximum pensionable earnings as of each year of the indexing of that limit, in accordance with the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)).

(11) Retirement age

For the purposes of section 138.1 of the Act, the retirement age is the age on the date on which membership ceases as determined pursuant to section 8.7 of the Act respecting the Pension Plan of Peace Officers in Correctional Services (chapter R-9.2).

For the purposes of section 138.7 of the Act, retirement is determined according to the following retirement rates:

For the Pension Plan of Management Personnel

For an employee who would attain 35 years of service at age 56 or older but before age 59 | – 90% at 35 years of service at age 56 or older but before age 59 |

– 100% (of the remaining 90%) at 40 years of service | |

For the employee whose age and years of service would add up to 90 (criteria 90) at age 58 or 59 | – 75% at criteria 90 |

– 100% (of the remaining 75%) at 35 years of service | |

For the employee whose age and years of service would add up to 90 (criteria 90) at age 60 or 61 | – 80% at criteria 90 |

– 100% (of the remaining 80%) at 35 years of service or age 65 if the employee attains that age without attaining 35 years of service | |

For an employee who would attain age 61 than 15 years of service without exceeding 29 years of service | – 70% at age 61 |

– 100% (of the remaining 70%) at age 65 | |

For an employee who would attain age 61 without having more than 15 years of service | – 60% at age 61 |

– 100% (of the remaining 60%) at age 65 | |

For an employee who has at least 35 years of service and at least 56 years of age at the time of transfer | – 90% 6 months after the transfer |

– 100% (of the remaining 90%) at 40 years of service or age 65 if the employee attains that age without attaining 40 years of service | |

For an employee whose age and years of service at the time of transfer add up to 90 at age 58 to 60 and has less than 35 years of service | – 80% 6 months after the transfer |

– 100% (of the remaining 80%) at 35 years of service or age 65 if the employee attains that age without attaining 35 years of service | |

For an employee who is at least 61 years of age and who has less than 35 years of service at the time of transfer | – 60% 6 months after the transfer |

– 100% (of the remaining 60%) at 35 years of service or age 65 if the employee attains that age without attaining 35 years of service |

For the Pension Plan of the members of the Sûreté du Québec

For an employee who would attain 25 years of service at age 50 or older but before age 55 or whose age and years of service would add up to 75 (criteria 75) before age 50 | – 15% at 25 years of service or criteria 75 if the employee is under 50 years of age |

– 100% (of the remaining 15%) at 32 years of service | |

For an employee who would attain 25 years of service at age 55 or older but before age 60 | – 30% at 25 years of service |

– 100% (of the remaining 30%) at 32 years of service or age 60 if the employee attains that age without attaining 32 years of service | |

For an employee who would attain age 60 without having more than 25 years of service | – 60% at age 60 |

– 100% (of the remaining 60%) at age 65 | |

For an employee who is at least 60 years at the time of transfer | – 60% 6 months after the transfer age |

– 100% (of the remaining 60%) at 38 years of service or age 65 if the employee attains that age without attaining 38 years of service | |

For an employee who has at least 35 years of service without having attained age 60 at the time of transfer | – 60% 6 months after the transfer |

– 100% (of the remaining 60%) at 38 years of service or age 60 if the employee attains that age without attaining 38 years of service | |

For an employee whose age and years of service would add up to 75 at less than 50 years of age and less than 32 years of service at the time of transfer | – 30% 6 months after the transfer |

– 100% (of the remaining 30%) at 32 years of service | |

For an employee who has at least 25 years of service but less than 32 years of service at age 50 to 54 at the time of transfer | – 30% 6 months after the transfer |

– 100% (of the remaining 30%) at 32 years of service | |

For an employee who has at least 25 years of service but at least 32 years of service at age 55 to 59 at the time of transfer | – 50% 6 months after the transfer |

– 100% (of the remaining 50%) at 32 years of service or age 60 if the employee attains that age without attaining 32 years of service |

(12) Reduction for early retirement:

The pension under the Pension Plan of Peace Officers in Correctional Services used to determine the actuarial value of the benefits of that plan is reduced by 1/3 of 1% per month computed for each month comprised between the date on which the actuarial value is determined and the first date on which a pension could have been paid to the member without reduction under than plan.

10.1. The actuarial values of the benefits referred to in sections 138.1 and 138.7 of the Act are determined using the following actuarial method and assumptions:

Actuarial method

The actuarial method is the “projected benefit method” pro rated on service.

In the case of section 138.1, the pensionable salary of the pension plans involved in the transfer is the salary that is taken into account to determine the average pensionable salary used to calculate the pension.

Actuarial assumptions

(1) Mortality rates:

The mortality rates are determined in accordance with the CIA Standard.

(2) Interest rates:

For fully-indexed and non-indexed benefits:

The interest rates are those determined in accordance with the CIA Standard.

For partially indexed benefits:

The interest rates are determined according to the following formula:

((1 + interest rate for a non-indexed benefit)/(1 + indexing rate for a partially-indexed benefit) - 1

The result must be rounded to the nearest multiple of 0.25%.

(3) Indexing rate:

(a) for a fully-indexed benefit according to the rate of increase in the pension index, the indexing rate is computed in the manner described in the CIA Standard;

(b) for a benefit indexed according to the excess of the rate of increase in the pension index (PI) over 3% or to half of the rate of increase in the pension index, the indexing rate corresponds respectively to the excess of the indexing rate computed in the manner provided in subparagraph a over 3% or to half the indexing rate computed in the manner provided in that subparagraph.

Inflation Addition to Adjusted Addition to Adjusted

level the result of indexing the result of indexing

the PI-3% rate the 50% PI, rate

formula min. PI-3%

formula

0.5 0.1 0.1 0.05 0.3

1.0 0.1 0.1 0.10 0.6

1.5 0.3 0.3 0.15 0.9

2.0 0.5 0.5 0.20 1.2

2.5 0.7 0.7 0.15 1.4

3.0 1.0 1.0 0.20 1.7

3.5 0.8 1.3 0.25 2.0

4.0 0.6 1.6 0.30 2.3

4.5 0.5 2.0 0.45 2.7

5.0 0.4 2.4 0.50 3.0

In order to take into account the inflation rate variations, the following additions are made to the results of effective indexing formulas for actuarial value computation purposes.

Inflation Addition to Adjusted Addition to Adjusted

level the result of indexing the result of indexing

the PI-3% rate the 50% PI, rate

formula min. PI-3%

formula

0.5 0.1 0.1 0.05 0.3

1.0 0.1 0.1 0.10 0.6

1.5 0.3 0.3 0.15 0.9

2.0 0.5 0.5 0.20 1.2

2.5 0.7 0.7 0.15 1.4

3.0 1.0 1.0 0.20 1.7

3.5 0.8 1.3 0.25 2.0

4.0 0.6 1.6 0.30 2.3

4.5 0.5 2.0 0.45 2.7

5.0 0.4 2.4 0.50 3.0

(4) Turnover rate: Nil

(5) Disability rate: Nil

(6) Proportion of employees with a spouse at retirement:

Males: 85%

Females: 60%

(7) Age of spouse at retirement:

— the male spouse of the member is assumed to be 2 years older;

— the female spouse of the member is assumed to be 3 years younger;

(8) Rate of increase of the MPE:

The annual increase in the maximum pensionable earnings within the meaning of the Québec Pension Plan corresponds to the annual rate of inflation plus 1%.

(9) Rate of increase of salaries

The annual increase in salaries corresponds to the annual increase of the MPE, increased by the annual rate of salary increase.

For the Pension Plan of Peace Officers in Correctional Services

Years of service | Annual rate of increase |

0 year | 2.50% |

1-6 years | 4.30% |

7 years | 2.50% |

8-10 years | 0.80% |

11-20 years | 0.60% |

21-30 years | 0.30% |

31 years and over | 0% |

For the Pension Plan of Management Personnel

Age | Annual rate of increase |

18-36 years | 3.30% |

37-38 years | 3.10% |

39-41 years | 2.20% |

42-44 years | 1.70% |

45-49 years | 1.50% |

50-54 years | 1.20% |

55 years and over | 0.90% |

For the Pension Plan of the members of the Sûreté du Québec

Years of service | Annual rate of increase |

0-1 year | 11.80% |

2 years | 13.20% |

3 years | 11.50% |

4 years | 8.90% |

5 years | 8.60% |

6 years | 6.00% |

7-9 years | 0.75% |

10 years | 1.50% |

11-13 years | 0.75% |

14 years | 2.00% |

15-20 years | 0.50% |

21 years | 2.00% |

22 years or more | 0.50% |

(10) Rate of increase in the Tax Act defined benefit limit:

The annual increase of Tax Act defined benefit limits corresponds to that of the maximum pensionable earnings as of each year of the indexing of that limit, in accordance with the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)).

(11) Retirement age

For the purposes of section 138.1 of the Act, the retirement age is the age on the date on which membership ceases as determined pursuant to section 8.7 of the Act respecting the Pension Plan of Peace Officers in Correctional Services (chapter R-9.2).

For the purposes of section 138.7 of the Act, retirement is determined according to the following retirement rates:

For the Pension Plan of Management Personnel

For an employee who would attain 35 years of service at age 56 or older but before age 59 | – 90% at 35 years of service at age 56 or older but before age 59 |

– 100% (of the remaining 90%) at 40 years of service | |

For the employee whose age and years of service would add up to 90 (criteria 90) at age 58 or 59 | – 75% at criteria 90 |

– 100% (of the remaining 75%) at 35 years of service | |

For the employee whose age and years of service would add up to 90 (criteria 90) at age 60 or 61 | – 80% at criteria 90 |

– 100% (of the remaining 80%) at 35 years of service or age 65 if the employee attains that age without attaining 35 years of service | |

For an employee who would attain age 61 than 15 years of service without exceeding 29 years of service | – 70% at age 61 |

– 100% (of the remaining 70%) at age 65 | |

For an employee who would attain age 61 without having more than 15 years of service | – 60% at age 61 |

– 100% (of the remaining 60%) at age 65 | |

For an employee who has at least 35 years of service and at least 56 years of age at the time of transfer | – 90% 6 months after the transfer |

– 100% (of the remaining 90%) at 40 years of service or age 65 if the employee attains that age without attaining 40 years of service | |

For an employee whose age and years of service at the time of transfer add up to 90 at age 58 to 60 and has less than 35 years of service | – 80% 6 months after the transfer |

For an employee who is at least 61 years of age and who has less than 35 years of service at the time of transfer | – 60% 6 months after the transfer |

– 100% (of the remaining 60%) at 35 years of service or age 65 if the employee attains that age without attaining 35 years of service |

For the Pension Plan of the members of the Sûreté du Québec

For an employee who would attain 25 years of service at age 50 or older but before age 55 or whose age and years of service would add up to 75 (criteria 75) before age 50 | – 15% at 25 years of service or criteria 75 if the employee is under 50 years of age |

– 100% (of the remaining 15%) at 32 years of service | |

For an employee who would attain 25 years of service at age 55 or older but before age 60 | – 30% at 25 years of service |

– 100% (of the remaining 30%) at 32 years of service or age 60 if the employee attains that age without attaining 32 years of service | |

For an employee who would attain age 60 without having more than 25 years of service | – 60% at age 60 |

– 100% (of the remaining 60%) at age 65 | |

For an employee who is at least 60 years at the time of transfer | – 60% 6 months after the transfer age |

– 100% (of the remaining 60%) at 38 years of service or age 65 if the employee attains that age without attaining 38 years of service | |

For an employee who has at least 35 years of service without having attained age 60 at the time of transfer | – 60% 6 months after the transfer |

– 100% (of the remaining 60%) at 38 years of service or age 60 if the employee attains that age without attaining 38 years of service | |

For an employee whose age and years of service would add up to 75 at less than 50 years of age and less than 32 years of service at the time of transfer | – 30% 6 months after the transfer |

– 100% (of the remaining 30%) at 32 years of service | |

For an employee who has at least 25 years of service but less than 32 years of service at age 50 to 54 at the time of transfer | – 30% 6 months after the transfer |

– 100% (of the remaining 30%) at 32 years of service | |

For an employee who has at least 25 years of service but at least 32 years of service at age 55 to 59 at the time of transfer | – 50% 6 months after the transfer |

– 100% (of the remaining 50%) at 32 years of service or age 60 if the employee attains that age without attaining 32 years of service |

(12) Reduction for early retirement:

The pension under the Pension Plan of Peace Officers in Correctional Services used to determine the actuarial value of the benefits of that plan is reduced by 1/3 of 1% per month computed for each month comprised between the date on which the actuarial value is determined and the first date on which a pension could have been paid to the member without reduction under than plan.

10.1. The actuarial values of the benefits referred to in sections 138.1 and 138.7 of the Act are determined using the following actuarial method and assumptions:

Actuarial method

The actuarial method is the “projected benefit method” pro rated on service.

In the case of section 138.1, the pensionable salary of the pension plans involved in the transfer is the salary that is taken into account to determine the average pensionable salary used to calculate the pension.

Actuarial assumptions

(1) Mortality rates:

The mortality rates are determined in accordance with the CIA Standard.

(2) Interest rates:

For fully-indexed and non-indexed benefits:

The interest rates are those determined in accordance with the CIA Standard.

For partially indexed benefits:

The interest rates are determined according to the following formula:

((1 + interest rate for a non-indexed benefit)/(1 + indexing rate for a partially-indexed benefit) - 1

The result must be rounded to the nearest multiple of 0.25%.

(3) Indexing rate:

(a) for a fully-indexed benefit according to the rate of increase in the pension index, the indexing rate is computed in the manner described in the CIA Standard;

(b) for a benefit indexed according to the excess of the rate of increase in the pension index (PI) over 3% or to half of the rate of increase in the pension index, the indexing rate corresponds respectively to the excess of the indexing rate computed in the manner provided in subparagraph a over 3% or to half the indexing rate computed in the manner provided in that subparagraph.

Inflation Addition to Adjusted Addition to Adjusted

level the result of indexing the result of indexing

the PI-3% rate the 50% PI, rate

formula min. PI-3%

formula

0.5 0.1 0.1 0.05 0.3

1.0 0.1 0.1 0.10 0.6

1.5 0.3 0.3 0.15 0.9

2.0 0.5 0.5 0.20 1.2

2.5 0.7 0.7 0.15 1.4

3.0 1.0 1.0 0.20 1.7

3.5 0.8 1.3 0.25 2.0

4.0 0.6 1.6 0.30 2.3

4.5 0.5 2.0 0.45 2.7

5.0 0.4 2.4 0.50 3.0

In order to take into account the inflation rate variations, the following additions are made to the results of effective indexing formulas for actuarial value computation purposes.

Inflation Addition to Adjusted Addition to Adjusted

level the result of indexing the result of indexing

the PI-3% rate the 50% PI, rate

formula min. PI-3%

formula

0.5 0.1 0.1 0.05 0.3

1.0 0.1 0.1 0.10 0.6

1.5 0.3 0.3 0.15 0.9

2.0 0.5 0.5 0.20 1.2

2.5 0.7 0.7 0.15 1.4

3.0 1.0 1.0 0.20 1.7

3.5 0.8 1.3 0.25 2.0

4.0 0.6 1.6 0.30 2.3

4.5 0.5 2.0 0.45 2.7

5.0 0.4 2.4 0.50 3.0

(4) Turnover rate: Nil

(5) Disability rate: Nil

(6) Proportion of employees with a spouse at retirement:

Males: 85%

Females: 60%

(7) Age of spouse at retirement:

— the male spouse of the member is assumed to be 2 years older;

— the female spouse of the member is assumed to be 3 years younger;

(8) Rate of increase of the MPE:

The annual increase in the maximum pensionable earnings within the meaning of the Québec Pension Plan corresponds to the annual rate of inflation plus 1%.

(9) Rate of increase of salaries:

The annual increase in salaries corresponds to the annual increase of the MPE, increased by the annual rate of salary increase.

For the Pension Plan of Peace Officers in Correctional Services

Years of service Annual rate

of increase

0-4 years 2.5%

5-15 years 0.4%

16 years and over 0.2%

of increase

0-4 years 2.5%

5-15 years 0.4%

16 years and over 0.2%

For the Pension Plan of Management Personnel

Age Annual rate

of increase

18-35 years 4.60%

36-50 years 2.00%

51 years and over 0.70%

of increase

18-35 years 4.60%

36-50 years 2.00%

51 years and over 0.70%

For the Pension Plan of the members of the Sûreté du Québec

Years of service Annual rate

of increase

0 year 0%

1 year 6.35%

2 years 11.80%

3 years 12.90%

4 years 9.80%

5 years 8.70%

6 years 8.00%

7 years 4.50%

8-13 years 0.45%

14 years 2.45%

15-20 years 0.45%

21 years 2.45%

22 years or more 0.45%

of increase

0 year 0%

1 year 6.35%

2 years 11.80%

3 years 12.90%

4 years 9.80%

5 years 8.70%

6 years 8.00%

7 years 4.50%

8-13 years 0.45%

14 years 2.45%

15-20 years 0.45%

21 years 2.45%

22 years or more 0.45%

(10) Rate of increase in the Tax Act defined benefit limit:

The annual increase of Tax Act defined benefit limits corresponds to that of the maximum pensionable earnings as of each year of the indexing of that limit, in accordance with the Income Tax Act (R.S.C. 1985, c. 1 (5th Suppl.)).

(11) Retirement age

For an employee who 100% at age 55

would attain 35 years

of service before age 55

For an employee whose 60% at criteria 88

age and years of service

would add up to 88

(criteria 88) at age 54

or older but before age 60

100% (of the remaining 40%)

at 35 years of service

or age 65 if the employee

attains that age without

attaining 35 years of service

For an employee who 60% at age 60

would attain age 60

without having more

than 28 years of service

100% (of the remaining 40%)

at age 65

For an employee whose 60% 6 months after

age and years of service the transfer

at the time of transfer add

up to 88 or more at age 54

or older but before age 60

100% (of the remaining 40%)

at 35 years of service or

age 65 if the employee

attains that age without

attaining 35 years of service

For an employee who 100% 6 months after

has at least 35 years of the transfer

service at the time

of transfer

For an employee who 60% 6 months after

is 60 years of age or older the transfer

at the time of transfer

100% (of the remaining 40%)

at 35 years of service

or age 65 if the employee

attains that age without

attaining 35 years of service

For the purposes of section 138.1 of the Act, the retirement age is the age on the date on which membership ceases as determined pursuant to section 8.7 of the Act respecting the Pension Plan of Peace Officers in Correctional Services (chapter R-9.2).

For the purposes of section 138.7 of the Act, retirement is determined according to the following retirement rates:

For the Pension Plan of Management Personnel:

For an employee who 100% at age 55

would attain 35 years

of service before age 55

For an employee whose 60% at criteria 88

age and years of service

would add up to 88

(criteria 88) at age 54

or older but before age 60

100% (of the remaining 40%)

at 35 years of service

or age 65 if the employee

attains that age without

attaining 35 years of service

For an employee who 60% at age 60

would attain age 60

without having more

than 28 years of service

100% (of the remaining 40%)

at age 65

For an employee whose 60% 6 months after

age and years of service the transfer

at the time of transfer add

up to 88 or more at age 54

or older but before age 60

100% (of the remaining 40%)

at 35 years of service or

age 65 if the employee

attains that age without

attaining 35 years of service

For an employee who 100% 6 months after

has at least 35 years of the transfer

service at the time

of transfer

For an employee who 60% 6 months after

is 60 years of age or older the transfer

at the time of transfer

100% (of the remaining 40%)

at 35 years of service

or age 65 if the employee

attains that age without

attaining 35 years of service

If the last 2 criteria apply, the assumption retained is that of the criteria of 35 years of service.

For the Pension Plan of the members of the Sûreté du Québec:

For an employee whose 20% at criteria 75

age and years of service

would add up to 75

(criteria 75) at age 50

or older but before age 60

100% (of the remaining 80%)

at 25 years of service or

age 60 if the employee attains

that age without attaining

25 years of service

For an employee who 20% at 25 years of

would attain 25 years of service

service before age 50

100% (of the remaining 80%)

at criteria 75

For an employee who 100% at age 60

would attain age 60

without having more

than 15 years of service

For an employee whose 20% 6 months after

age and years of service the transfer

add up to 75 or more at

the time of transfer while

the employee is less than

60 years of age and has

less than 25 years

of service

100% (of the remaining 80%)

at 25 years of service or

age 60 if the employee attains

that age without attaining

25 years of service

For an employee who 20% 6 months after

has 25 years of service the transfer

or more at the time of

transfer, without

criteria 75

100% (of the remaining 80%)

at criteria 75

For an employee who 100% 6 months after

is 60 years of age or older the transfer

at the time of transfer or

for an employee whose age

or years of service add up

to 75 or more with a

minimum of 25 years

of service

age and years of service

would add up to 75

(criteria 75) at age 50

or older but before age 60

100% (of the remaining 80%)

at 25 years of service or

age 60 if the employee attains

that age without attaining

25 years of service

For an employee who 20% at 25 years of

would attain 25 years of service

service before age 50

100% (of the remaining 80%)

at criteria 75

For an employee who 100% at age 60

would attain age 60

without having more

than 15 years of service

For an employee whose 20% 6 months after

age and years of service the transfer

add up to 75 or more at

the time of transfer while

the employee is less than

60 years of age and has

less than 25 years

of service

100% (of the remaining 80%)

at 25 years of service or

age 60 if the employee attains

that age without attaining

25 years of service

For an employee who 20% 6 months after

has 25 years of service the transfer

or more at the time of

transfer, without

criteria 75

100% (of the remaining 80%)

at criteria 75

For an employee who 100% 6 months after

is 60 years of age or older the transfer

at the time of transfer or

for an employee whose age

or years of service add up

to 75 or more with a

minimum of 25 years

of service

(12) Reduction for early retirement:

The pension under the Pension Plan of Peace Officers in Correctional Services used to determine the actuarial value of the benefits of that plan is reduced by 1/3 of 1% per month computed for each month comprised between the date on which the actuarial value is determined and the first date on which a pension could have been paid to the member without reduction under than plan.