59.1. Except in the case of a pensioner, an employee who has ceased to participate in this plan and who, according to a medical certificate, is suffering from an illness likely to lead to death within a period of two years is, if he is entitled only to a deferred pension or to an actuarially reduced pension under section 38 or, where that is the case, section 18.104.22.168, entitled to receive the higher of the following amounts:
(1) the total contributions with interest accumulated up to the date on which the application is received;
(2) the actuarial value of his pension established on that date in accordance with the actuarial assumptions and methods determined by regulation under section 46.1.
The same applies to an employee able to provide such a certificate who, if he ceased to participate in this plan on the date on which the application is received, would be entitled only to one or other of those pensions. However, an employee who receives the amount referred to in the first paragraph ceases to participate in the plan on that date and, subject to section 59.4, is not considered to be an employee for the purposes of the plan, even if he continues to hold pensionable employment after the date on which the application is received.
For the purposes of this section, the contributions include the sums referred to in section 50, with the exception of the sums paid by the employee or transferred to this plan and for which he has obtained a pension credit, and in establishing the total of such contributions, the second paragraph of section 55 and section 58 are taken into account. In addition, where section 99 applies, the contributions and the actuarial value of the pension relating to the years and parts of a year of service credited under sections 85.1, 85.3 and 98 are excluded.
The amount referred to in the first paragraph bears interest, compounded annually, at the rates determined for each period by this Act, from the date on which the application is received until the date on which the refund is made.
1993, c. 41, s. 13; 1995, c. 13, s. 3.