46. The arbitrator renders a decision in accordance with the rules of law.
The arbitrator must take into account, among other considerations, taxpayers’ ability to pay, intergenerational equity, the sustainability of the pension plan, compliance with cost-sharing principles and the objectives set out in this Act, contribution holidays and any improvements made to the plan.
In addition, the arbitrator must take into account the past concessions granted by the members with respect to other elements of the overall remuneration.
The arbitrator’s decision is binding on the parties from the time it is rendered. No appeal lies from the arbitrator’s decision.