143.4. In respect of an employee or a person, who is not referred to in section 143.3, who was a member of the Government and Public Employees Retirement Plan, the Pension Plan of Management Personnel, the Teachers Pension Plan or the Civil Service Superannuation Plan and who subsequently became a member of this plan before 1 January 2005, the years and parts of a year of service referred to in the second paragraph of section 22 and in section 23, as they read before 1 January 2005, must be credited under this plan in accordance with section 23 on the date the employee or person began contributing to this plan.
The first paragraph of section 40, as it read before 1 January 2005, applies to the employee. However, with respect to a redemption proposal sent by Retraite Québec after 31 December 2004, the rates of interest that apply are:
(1) 5.34% for each year and part of a year before 1 June 2001;
(2) the rates given for each period in Schedule III from 1 June 2001 to 31 December 2006;
(3) the rates given for each period in Schedule II from 1 January 2007 until the date of the redemption proposal sent by Retraite Québec.
The years and parts of a year of service referred to in the second paragraph are credited beginning with the most recent service.
The amount required of the employee to pay the cost of the redemption is payable either in a lump sum or in instalments over the period and at the intervals determined by Retraite Québec or, if provided for in the employee’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. An amount paid in instalments bears interest, compounded annually, at the rate determined in Schedule III in force on the date Retraite Québec receives the application for redemption and computed from the date on which the redemption proposal made by Retraite Québec expires.
Section 115.9 of the Act respecting the Government and Public Employees Retirement Plan (chapter R-10) or section 151 of the Act respecting the Pension Plan of Management Personnel (chapter R-12.1), as it read before 1 January 2005, applies as necessary.
2004, c. 39, s. 57; 2013, c. 9, s. 45; 2015, c. 20, s. 61; 2018, c. 4, s. 161.