Germaine Aug 19, 2014:

En d'autres mots:
aussi longtemps que celles-ci ne sont pas exigibles = le bénéficiaire n'a pas le droit de céder/nantir son droit aux prestations avant d'avoir le droit d'exiger le paiement de sa pension (selon le barème et la fréquence (hebdo, mensuelle) prévus par le régime). So one cannot transfer or pledge his benefits entitlement until such benefits actually become payable, except under the housing program.

Le Québec dispose d'un programme similaire: une personne peut emprunter (en franchise d'impôt) sur son fonds de retraite la mise de fonds nécessaire à l'achat d'une première résidence à condition qu'elle rembourse au fonds de retraite en question la somme ainsi prélevée dans les dix ans qui suivent l'emprunt.

Daryo Aug 19, 2014:

Thanks for the clarification - that's more or less what I guessed.

"sous réserve des mesures d'encouragement à la propriété du logement." is an exception to this rule, but that doesn't change anything to the translation of the first part of the sentence.

More precisely:
an employee can not draw on his pension nor mortgage it before retirement age unless/except in order to help fund the purchase of a house. He does this by either giving to someone else the right to collect his benefits once they become due, or pledging his benefits entitlement as collateral on a house purchase

Wendy Cummings (asker) Aug 19, 2014:

Reference In case anyone else wonders the same thing in the future, the pension plan regs state that:

Les fonds de la prévoyance professionnelle peuvent être utilisés pour [...] acquérir ou construire un logement en propriété privée [...], amortir ou rembourser des prêts hypothécaires....

So basically, an employee can draw on his pension before retirement age in order to help fund the purchase of a house. He does this by either requesting payment of his vested benefits, or pledging his benefits entitlement as collateral on a house purchase

philgoddard Aug 19, 2014:

I take it to mean that the benefits are actually being paid out. Obviously they can do what they like with the money while they're receiving it, but they can't give away the right to receive it at some future date.
I assume the last bit means "except as a contribution to a home ownership scheme".

Wendy Cummings (asker) Aug 19, 2014:

@Wendy By "due" do you mean owing to the employee I.e. The benefits are actually going to be paid out?

Wendy Cummings (asker) Aug 19, 2014:

@Phil I'm not sure of the specifics, but it's a sort of home ownership/first time buyers incentive scheme.

philgoddard Aug 19, 2014:

Yes You should post that as an answer, Wendy.
But what on earth is the stuff about"propriété du logement"?

Wendy Streitparth Aug 19, 2014:

"until they are due" for starters.