11. (1) This Section applies if provision is made for satisfaction of pension entitlement by any of the following:
(a) a compensation payment under section 52 (determination of ownership, possession or division of property) of the Act;
(b) a compensation payment under section 55.92 (1) (d) (written agreements between member and spouse) of the Act;
(c) the compensation payment or amount transferred under section 55.92 (4) (agreement between plan and spouse) of the Act.
(2) A compensation payment or transfer referred to in subsection (1) must be determined as a proportionate share of an amount equal to the present value of the future pension benefits payable to the member.
(3) Without limiting the contingencies that may be considered in making a determination under subsection (2), the determination must make reasonable provision for the following contingencies:
(a) the possibility that the member may terminate employment or die before retirement;
(b) the possibility that the member may retire at an early, late or normal retirement date;
(c) the possibility that benefits being divided as family assets and paid under the plan will increase, whether by an automatic formula or on an ad hoc basis, after the date selected for valuing the benefits;
(d) to the extent that benefits being divided as family assets are related to future salary levels, the possibility that salary levels will increase after the date selected for valuing the benefits.
(4) If the pension is not a vested pension at the date of valuation, the spouse may elect to:
(a) postpone valuation until it is ascertained whether the pension vests, or
(b) have the valuation proceed assuming the pension will vest, but adjusting it to take into account the contingency that the member may die or leave employment before vesting.