2. The municipality must, within 30 days of the date of the statement of account sent by Retraite Québec, pay the contribution and the interest accrued on the contribution.
Any amount not paid within the 30-day period bears interest, compounded annually, from the date of the statement of account, at the rate provided for in Schedule VII to the Act respecting the Government and Public Employees Retirement Plan (chapter R-10) and applicable on that date.