R-10, r. 10 - Pension plan for federal employees transferred to employment with the Gouvernement du Québec

Section 53 Disposition versions

2012-09-01

53. Interest at the rate of 4% compounded annually is payable on any refund of contributions until the date of the refund.

Where the refund concerns amounts paid to redeem credited service under Divisions II and III of Chapter III of Title I, the interest is calculated as of the date of payment of the amounts; where the refund concerns sums paid by an employee to pension and supplementary benefits plans established under the federal Act, the interest is calculated as of the date on which the employee begins to participate in the provincial pension plan.

The employee’s contributions within the meaning of Division IV of Chapter III of Title I pertaining to a year are deemed received at the mid-point of the period during which the employee participated in this plan during a year.

O.C. 430-93, s. 53; T.B. 208552, s. 7.