147.0.3. Any person who has received a reimbursement of contributions or actuarial value without being entitled thereto and who is entitled, in respect of the amounts so reimbursed, to claim a pension credit under his pension plan has 90 days from the date of the notice of claim sent by Retraite Québec to elect either to keep the amount reimbursed, or to return the amount received without entitlement, with interest compounded annually, and computed at the rates determined for each period and in the manner prescribed by regulation, both of which may vary according to the pension plan concerned, from the date of the reimbursement to the date of the notice.
Any person who does not remit to Retraite Québec the total amount claimed within the time allotted shall, subject to the third paragraph, forfeit any pension credit he could have claimed had it not been for the amount received without entitlement and is deemed, for the purposes of his pension plan, to have been entitled to the benefit granted to him.
The person may reverse his decision and Retraite Québec shall, on request, send him a new notice of claim for an amount computed in accordance with the first paragraph up to the date of the new notice. In that case, the first paragraph shall apply in respect of that person. The person shall recover benefit entitlement under his pension plan if he remits the new amount claimed within the time allotted therefor.
If the person has contested the amount claimed from him, in accordance with the provisions of his pension plan, and a final decision on the contestation has been made, the third paragraph applies without the person being required to file any application.
Where a person returns the difference between the amount of the contributions reimbursed by Retraite Québec and the amount corresponding to the value of the contributions covered by the person’s application for reimbursement, no interest is added to the amount so returned.
1995, c. 46, s. 17; 2002, c. 30, s. 57; 2015, c. 20, s. 61.