220.127.116.11. Notwithstanding section 111.0.1, an officer who makes an application for review in the period during which the redemption proposal is valid is not bound to accept it during that period, or to make payments, until a final decision has been made on his application. After the decision of the Comité de retraite or the Administrative Tribunal of Québec, as the case may be, has been mailed, the Commission administrative des régimes de retraite et d’assurances shall send a notice to the officer which, as of the date of the redemption proposal, repeats or modifies that proposal, and section 111.0.1 applies.
Any unpaid amount in respect of the redemption proposal bears interest, compounded annually and payable according to the same terms and conditions as the redemption, from the date of that proposal until the date of the Commission’s notice. The rate is that provided for in Schedule VI to the Act respecting the Government and Public Employees Retirement Plan (chapter R-10) and in force on the date the application for redemption is received, unless interest is otherwise payable for that period by operation of law.
1993, c. 74, s. 20; 1997, c. 43, s. 851.