38.2. An employee referred to in subparagraph 1 of the second paragraph of section 38.1 may be credited, in whole or in part, with the years of service in respect of which the annual amount has not been withheld, if the employee makes an application to that effect within 12 months of receiving the notice from the Commission informing the employee of the right to elect to have the provisions of this Chapter apply. In the case of an employee who, on 16 June 2000, is working for the same employer as the employer referred to in the first paragraph of section 38.1, the years of service shall be credited except on contrary notice from the employee received by the Commission before the date of the employee’s retirement.
The amount referred to in section 38.1 shall be paid in a lump sum, by instalments spread out before the retirement date, or as a set-off on the amount of the pension.
If the employee ceases to be a member of the pension plan before being eligible for the pension and requests a refund of his or her contributions, the contributions referred to in the first paragraph are presumed paid for the purposes of establishing the rights arising out of the pension plan. However, the value of those contributions is not included in the amount refunded if the employee has not paid the cost. This rule also applies where a person elects to have the provisions of Chapter II apply, with the necessary modifications.
Where the 12-month period provided for in the first paragraph extends beyond 16 June 2005, the application must be received by the Commission at the latest by that date.