59.5. An employee who has availed himself of the first or second paragraph of section 59.1 may be credited with the years or parts of a year of service that had been credited to him before the date of the refund if he applies therefor and pays an amount equal to the amount that was refunded to him, with interest, compounded annually, at the rates determined for each period by this Act. The interest runs from the date of the refund until the date of the redemption proposal made by the Commission.
The amount established under the first paragraph is payable either in a lump sum or by instalments spread over the period and at the times determined by the Commission. If it is paid by instalments, it bears interest, compounded annually, at the rate in force on the date on which the application is received, computed from the date on which the redemption proposal made by the Commission expires.
The employee referred to in this section or in section 84 of the Act respecting the Pension Plan of Management Personnel (chapter R-12.1), if, in the latter case, section 3.2 of this Act applies to the employee, may also be credited with the years or parts of a year of service with which he had been credited before the date of the refund of the amount referred to in section 59.2, and the first and second paragraphs apply, adapted as required. He is then entitled to a pension credit equal to that to which he would have been entitled if the amount had not been refunded.
1993, c. 41, s. 13; 2001, c. 31, s. 282.