188.8.131.52. An employee who has availed himself or herself of the 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 and parts of a year of service of the period during which the employee would have been a member of that plan had it not been for the application of that paragraph if the employee applies therefor and pays an amount equal to the contribution he or she would have paid if the employee had been a member of that plan, with interest, compounded annually, at the rates determined for each period by this Act. The interest runs from the mid-point of each year up to the date of the redemption proposal made by the Commission. However, in respect of the years and parts of a year of service credited to the employee, section 34 of the Act respecting the Pension Plan of Management Personnel applies, where that is the case, as though the employee had been a member of that plan during that period.
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.