R-15.1, r. 6 - Regulation respecting supplemental pension plans

Section 42 Disposition versions

2012-09-01

42. Where the member’s benefits have been partitioned or transferred to a spouse on a date prior to the valuation date, the value of the benefits accumulated during the most recent marriage or civil union must be determined as follows:

(1)  where the residual value of the capital benefits or the amount of the residual pension arising from the partition or transfer is known, it corresponds to amount “N” in the following formula:

[ G - R ] x M/Q = N

“G” represents the total residual value of the capital benefits or, in the case of pension benefits, the value of the total residual pension, at the valuation date;

“R” represents:

(1)  in the case of capital benefits, their residual value at the date of the valuation of the previous partition or transfer, increased by interest calculated at the rate provided for in the second paragraph of section 39, for the period between that date and the valuation date;

(2)  in the case of pension benefits, the value, at the valuation date, of the residual pension calculated at the date of the valuation of the previous partition or transfer;

“M” represents the number of months of membership in the period of the most recent marriage or civil union;

“Q” represents the number of months of membership between the date of the valuation of the previous partition or transfer and the valuation date;

(2)  where the residual value of the capital benefits or the amount of the residual pension arising from that partition or transfer is not known, it corresponds to the total residual value of the member’s benefits, adjusted pro rata to the number of months of the most recent marriage or civil union included in the period of membership over the total number of months elapsed before and during that marriage or civil union and included in that period of membership.

O.C. 1158-90, s. 42; O.C. 173-2002, s. 36; O.C. 1073-2009, s. 25.