Adjustment of member’s pension benefits (defined benefits)
 33. (1) If the member’s pension benefits are defined benefits, the adjusted amount of his or her pension benefits is determined in accordance with this section.  O. Reg. 287/11, s. 33 (1). (2) All calculations required by this section are to be made as of the date on which the member terminates employment or membership, except where otherwise indicated.  O. Reg. 287/11, s. 33 (2). (3) The adjusted amount of the member’s accrued pension benefits, other than bridging benefits, if any, is determined in accordance with the following rules: 1.  Transferred portion: As of the date of the transfer of the lump sum, calculate an amount representing the transferred portion of the member’s accrued pension benefits (other than bridging benefits, if any) using the formula, M × (H/J) × (N/P) in which, “H”  has the same meaning as in section 18, “J”  has the same meaning as in section 18, “M”  is the amount of the member’s accrued pension benefits as of the family law valuation date, excluding any bridging benefits, “N”  is the amount of the lump sum that was transferred, and “P”  is the imputed value of the member’s accrued pension benefits as updated under section 30. 2.  Indexation of transferred portion: If the terms of the pension plan, as they read on the family law valuation date, provide for the indexation of a deferred pension, increase the amount of the transferred portion as calculated under paragraph 1 for indexation on the same basis as a deferred pension of a former member who terminated employment or membership as of the family law valuation date, for the period beginning on the family law valuation date and ending on the date on which the member terminates employment or membership. 3.  Pre-adjustment amount of the member’s accrued pension benefits:  Calculate the amount of the accrued pension benefits (other than bridging benefits, if any) to which the member is entitled on the date on which he or she terminates employment or membership. 4.  Adjusted amount: Calculate the adjusted amount of his or her accrued pension benefits (other than bridging benefits, if any) using the formula, Q – R in which, “Q”  is the pre-adjustment amount of the member’s accrued pension benefits (other than bridging benefits, if any) as calculated under paragraph 3, and “R”  is the amount of the transferred portion as calculated under paragraph 1 or 2, whichever applies. O. Reg. 287/11, s. 33 (3). (4) The adjusted amount of the member’s accrued bridging benefits, if any, is determined in accordance with the following rules: 1.  Transferred portion: As of the date of the transfer of the lump sum, calculate an amount representing the transferred portion of the member’s accrued bridging benefits, if any, using the formula, S × (H/J) × (N/P) in which, “H”  has the same meaning as in section 18, “J”  has the same meaning as in section 18, “N”  has the same meaning as in paragraph 1 of subsection (3), “P”  has the same meaning as in paragraph 1 of subsection (3), and “S”  is the amount of the member’s accrued bridging benefits, if any, as of the family law valuation date. 2.  Pre-adjustment amount of the member’s accrued bridging benefits: Calculate the amount of the accrued bridging benefits to which the member is entitled on the date on which he or she terminates employment or membership. 3.  Adjusted amount: Calculate the adjusted amount of the member’s accrued bridging benefits, if any, using the formula, U – V in which, “U”  is the pre-adjustment amount of the member’s accrued bridging benefits as calculated under paragraph 2, and “V”  is the amount of the transferred portion as calculated under paragraph 1. O. Reg. 287/11, s. 33 (4). (5) For greater certainty, the period of employment credited under the pension plan to the member is not reduced by an adjustment under this section.  O. Reg. 287/11, s. 33 (5). (6) For greater certainty, any lump sum to which a member may be entitled on termination of employment or membership in the plan under subsection 39 (4) of the Act must be calculated prior to an adjustment under this section.  O. Reg. 287/11, s. 33 (6).