Legislative amendments to all public-sector penson plans administered by Retraite Québec

Changes to your pension plan

Each public-sector pension plan was or will be amended after the Act amending mainly certain Acts establishing public-sector pension plans (S.Q. 2023, chapter 6)  was assented to on 6 April 2023.

Revaluation of pension credits as a result of a transfer from a supplemental pension plan or a transfer agreement

Plans affected: Government and Public Employees Retirement Plan (RREGOP), Pension Plan of Management Personnel (PPMP), Retirement Plan for Senior Officials (RPSO) ^{See note 1} and Pension Plan of Certain Teachers (PPCT)

Effective date: 6 April 2023

Pension credits as a result of a transfer from supplemental pension plans or a transfer agreement and covered by the actuarial valuation of RREGOP as at 31 December 2018 concerning pension credits as a result of transfers from supplemental pension plans ^{See note 2} are revaluated.

The revaluation is carried out only once by resolution of the RREGOP pension committee, by using part of the actuarial surplus attributable to the pension credits. The terms and conditions  of the revaluation apply retroactively, that is, as of 1 January 2021.

The amounts owing are payable on the date of the resolution. Therefore, interest resulting from late payments will be paid as of the 61st day following the date of the resolution.

For the PPCT, the terms and conditions of the revaluation are the same as for RREGOP

Revaluation of buy-back pension credits

Plans affected : RREGOP, PPMP and PPSO ^{See note 3}

Effective date: 6 April 2023

Buy-back pension credits are revaluated retroactively to 1 January 2021 by resolution of the RREGOP pension committee (terms and conditions ). It only covers part of the pension credit whose payment comes from amounts disbursed by members to obtain the pension credit.

The amounts owing are payable on the date of the resolution. Therefore, interest resulting from late payments will be paid as of the 61st day following the date of the resolution.

Persons during the qualification period for the PPMP (health and social services sector)

Plan affected: PPMP

Effective date: 6 April 2023

An employee of the health and social services sector during the qualification period for the PPMP who simultaneously holds another position covered by the PPMP with the same employer ^{See note 4} on a temporary basis is no longer a member of the PPMP for that last position.

Limit of member contribution to the PPPOCS

Plan affected: Pension Plan of Peace Officers in Correctional Services (PPPOCS)

Effective date: 1 January 2022

The annual member contribution is no longer limited to 9% of the member's pensionable salary.

Member of the Lieutenant-Governor's, a Minister's or a member of the National Assembly's staff

Plan affected: PPMP

Effective date : 6 April 2023

The 12-month period to file an application for membership in the PPMP for a staff member who is not certain to be obtaining or returning to a covered position is abolished.

Make-up of the pension committee

Plan affected: PPMP

Effective date: 6 April 2023

Among the members of the PPMP pension committee, two persons representing employees of the public service, appointed after consultation of associations representing them, will sit on the committee rather than only one person.

There will no longer be members representing director generals in the health and social services sector because those positions have been abolished. A person is deemed to have been appointed as representative of employees of the public service as of the effective date of the amendment.

Unclaimed property – Delivery of sums after recovery from the Minister of Revenue

Plans affected: all public-sector pension plans administered by Retraite Québec

Effective date: 6 April 2023

Only one person who was a member of a pension plan and recovered sums to which he or she was entitled with the Minister of Revenue may, if he or she so requests, remit the amounts plus interest to Retraite Québec and therefore reinstate his or her benefits under his or her pension plan.