74.1. Except in the case of a pensioner, an employee who has ceased to participate in the 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 50, 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 and additional benefits established on that date in accordance with the actuarial assumptions and methods determined by regulation under section 46.1 of the Act respecting the Government and Public Employees Retirement Plan (chapter R-10).
The first paragraph also applies to an employee who provides such a certificate and who, if he or she ceased to participate in the plan on the date of receipt of the application by the Commission, would be entitled to only one of the pensions referred to in that paragraph. However, an employee who receives the amount ceases to participate in the plan on that date and, subject to section 74.6, is not considered to be an employee even if he or she continues to hold pensionable employment after the date of receipt of the application.
The amount referred to in the first paragraph bears interest, compounded annually, at the rates determined for each period under Schedule VI to the Act respecting the Government and Public Employees Retirement Plan, from the date of receipt of the application to the date on which the refund is made.