22. The amount required of a teacher for payment of the cost of redemption under section 21 or 21.0.1 is equal to 100% of the contributions that would have been withheld from the pensionable salary the teacher would have received if the teacher had not been absent during the period covered by the application according to the number of days and parts of a day to be redeemed out of the number of pensionable days, calculated on the basis of the applicable annual remuneration.
However, where the application for redemption of a period of absence without pay is received by the Commission more than six months after the end of the period of absence without pay, the amount required of a teacher to pay the redemption cost is determined on the basis of the pensionable salary established under section 11 at the time of receipt of the teacher’s application, according to the number of days or parts of a day to be redeemed out of the number of pensionable days, calculated on the basis of the annual remuneration. Such cost is determined in accordance with the rate established by a regulation made under section 25 of the Act respecting the Government and Public Employees Retirement Plan (chapter R-10). The regulation may also provide for a special rate applicable to employees who are members of this plan.
To pay the redemption cost, a teacher may spread the payment over the period and payment dates determined by the Commission. In that case, the second paragraph of section 26 of the Act respecting the Government and Public Employees Retirement Plan applies.
1965 (1st sess.), c. 68, s. 10; 1966-67, c. 64, s. 5; 1970, c. 56, s. 8; 1973, c. 12, s. 196; 1982, c. 51, s. 65; 1983, c. 24, s. 2; 1985, c. 18, s. 33; 1986, c. 44, s. 93; 2002, c. 30, s. 80.