42. In respect of pension plans administered by Retraite Québec, except the Pension Plan of Management Personnel, any contribution instalment or contributory amount that the employer fails to pay to Retraite Québec on the 15th day of the month bears interest, compounded annually, from that date, at the rates in Schedule VI to the Act. For a period or part of a period indicated in that Schedule, if the rate in that Schedule is lower than the rate in Schedule VII to the Act, the latter rate applies.
In the case of the Pension Plan of Management Personnel, the first paragraph applies at the rates in Schedule VII to the Act respecting the Pension Plan of Management Personnel (chapter R-12.1). For a period or part of a period indicated in that Schedule, if the rate in that Schedule is lower than the rate in Schedule VIII to that Act, the latter rate applies.
O.C. 1845-88, s. 42; T.B. 202419, s. 10.