53. Where the sum of the amounts paid as pension under this chapter is less than twice the Member’s contributions, with interest accrued, in the manner and at the rate prescribed by regulation, until the date on which a pension has become payable after his last term, the difference shall be paid, upon application, to the Member’s successors in a single payment from the time payment of the pension to the last person entitled to it ceases.
Where the payment of the actuarial value of the reduced retirement pension, made pursuant to the second paragraph of section 34, is less than twice the Member’s contributions, with interest accrued, in the manner and at the rate prescribed by regulation, until the date on which the reduced retirement pension would have been payable for the purpose of computing that value, the difference shall be paid, upon application, to the deceased Member’s successors in a lump sum provided that, on the date of the application, there is no surviving spouse or children in a position to satisfy the conditions for the obtention of a pension set out in section 41.
For the purposes of the first and second paragraphs, no interest shall be granted for the period during which a pension is paid.
1982, c. 66, s. 53; 1990, c. 5, s. 3; 1992, c. 9, s. 2; 1992, c. 67, s. 2; 1999, c. 40, s. 77.