INTERPRETATION

1. The definitions in this section apply in these Regulations.

“Act”

“Act” means the Public Service Superannuation Act. (Loi)

“demand for funds”

“demand for funds” means a request for funds made by the Minister in accordance with an agreement entered into under subsection 40.2(2) of the Act concerning the payment of amounts calculated in accordance with section 6 of the Regulations. (demande de fonds)

“employee”

“employee” means an employee of an employer in respect of whom the Minister has entered into an agreement under subsection 40.2(2) of the Act who has ceased to be employed by that employer and is or becomes employed by the Public Service. (employé)

“employer”

“employer” means an eligible employer with whom the Minister has entered into an agreement under subsection 40.2(2) of the Act. (employeur)

“pensionable service”

“pensionable service” means any service that an employee is entitled to count for the purposes of any plan referred to in subsection 40.2(1) of the Act and that may be counted by the employee in accordance with an agreement for the purposes of subsection 6(1) of the Act, subject to the conditions set out in subsection 40.2(9) of the Act. (période de service ouvrant droit à pension)

“registered pension plan”

“registered pension plan” means a pension plan registered under section 147.1 of the Income Tax Act. (régime de pension agréé)

CLASS OF PENSION PLAN

2. For the purposes of subsection 40.2(1) of the Act, a pension plan is a registered pension plan:

• (a) with at least 10 active participants at the time the employer enters into a transfer agreement under subsection 40.2(2) of the Act; or

• (b) established as a result of a divestiture of service under section 40.1 of the Act.

PENSIONABLE SERVICE

3. Pensionable service includes periods of past service that an employee is entitled to count under paragraph 147.1(10)(a) of the Income Tax Act.

4. The demand for funds made to an employer in respect of an employee shall be determined in accordance with a transfer agreement and shall equal the total of:

• (a) an amount not exceeding the value, actuarially calculated in accordance with the transfer agreement, of all benefits that would have been payable under Parts I and III of the Act in respect of the pensionable service of the employee; and

• (b) an amount that represents interest on the amount determined in accordance with paragraph (a) as of the date of payment, which interest shall be determined by the Minister under subparagraph 40.2(3)(a)(ii) of the Act.