220.127.116.11. An employee who has availed himself or herself of the first or second paragraph of section 80 of the Act respecting the Pension Plan of Management Personnel (chapter R-12.1) may be credited with the years or parts of a year of service that had been credited to the employee before the date of the refund if the employee applies therefor and pays an amount equal to the amount that was refunded to him or her, 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 cash or by instalments spread over the period and at the intervals determined by the Commission. If paid by instalments, the amount bears interest, compounded annually, at the rate in force on the date of receipt of the application, computed from the date on which the redemption proposal made by the Commission expires.
The employee may also cause the years or parts of a year of service that had been counted in respect of the employee before the date of the refund of the amount referred to in section 59.2 of this Act to be counted, and the first and second paragraphs apply, with the necessary modifications. The employee is then entitled to a pension credit equal to that to which he or she would have been entitled if the amount had not been refunded.