80. Except in the case of a pensioner, an employee who has ceased to be a member of 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 the employee is entitled only to a deferred pension or to an actuarially reduced pension under section 56, entitled to receive the higher of the following amounts :
(1) the total contributions with interest accrued up to the date of receipt of the application ;
(2) the actuarial value of the employee’s pension established on that date in accordance with the actuarial assumptions and methods determined by regulation under section 68.
The same applies to an employee who can provide such a certificate and who, if he or she ceased to be a member of this plan on the date of receipt of the application, 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 be a member of the plan on that date and, subject to section 83, is not considered to be an employee for the purposes of the plan, even if he or she continues to hold pensionable employment after the date of receipt of the application.
For the purposes of this section, contributions include the amounts referred to in section 73, and in establishing the total of such contributions, the second paragraph of section 77 and section 79 are taken into account. In addition, where section 140 applies, the contributions and the actuarial value of the pension relating to the years and parts of a year of service credited under sections 126, 130 and 139 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 of receipt of the application until the date on which the refund is made.