26. A teacher may pay the amount required for the redemption of years during which he was a Member in a lump sum or, if provided for in the teacher’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.
However, where he redeems two years of service or more, he may pay by instalments; in that case, the amount to be paid by him shall bear interest from the date on which the redemption proposal made by Retraite Québec expires, at the rate of 5%, compounded annually, and may be apportioned in equal and consecutive annual instalments over a period not exceeding five years.
1966-67, c. 64, s. 6; 1970, c. 56, s. 12; 1974, c. 63, s. 7; 1983, c. 24, s. 2; 1990, c. 87, s. 83; 2015, c. 20, s. 61; 2016, c. 14, s. 271.