Regulatory Amendments to Certain Public-Sector Pension Plans (RREGOP, PPMP*)

Your pension plan is changing

Bill 97, the Act to amend certain Acts establishing pension plans applicable to public sector employees (CQLR 2016, chapter 14), was assented to on 8 June 2016. As a result, regulatory amendments were required.

The amendment is presented below.

Increase in the rate of reduction due to early payment of the deferred pension

Affected plans: RREGOP, PPMP*

Effective date: 1 July 2020

The rate of reduction applicable to deferred pensions will increase from 4% to 6% per year of anticipation.

The 6% rate will apply to participants who stop working for any concerned employer as of 1 July 2020.

Note that with regard to the PPMP*, the new rate will only apply to members who must complete an additional period of participation but who cease to participate in the plan before the end of the period.

* Please note that the Regulation respecting the application of Title IV.2 of the Act respecting the Government and Public Employees Retirement Plan, which applies to the early payment of a deferred pension under the PPMP, was amended on 21 November 2017 and modifies the regulatory amendment.