59.6. An employee who has availed himself of the second paragraph of section 59.1 may be credited with the years and parts of a year of service of the period during which he would have participated in this plan had it not been for the application of that paragraph if he applies therefor and pays an amount equal to the contribution he would have paid if he had participated in this plan, with interest, compounded annually, at the rates determined in Schedule VI, for each year, from the midpoint of the period during which the employee would have paid contributions if the employee had been a member of this plan in the course of that year until the date the application is received at Retraite Québec and at the rate determined in Schedule VII from the day following that date up to the date of the redemption proposal made by Retraite Québec. However, in respect of the years and parts of a year of service credited to the employee, section 21 applies, where that is the case, as though the employee had participated in this plan during that period.
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 Retraite Québec or, if provided for in the employee’s conditions of employment, by using all or part of his accumulated sick leave. In the latter case, his employer shall pay all or part of the amount according to the terms determined by Retraite Québec. If it is paid by instalments, it bears interest, compounded annually, at the rate provided for in Schedule VII in force on the date on which the application is received, computed from the date on which the redemption proposal made by Retraite Québec expires.
1993, c. 41, s. 13; 2002, c. 30, s. 42; 2004, c. 39, s. 108; 2007, c. 43, s. 63; 2015, c. 20, s. 61; 2016, c. 14, s. 111.