16. Every person to whom the Act respecting pension coverage for certain teachers (chapter P-32.1) was applicable on 1 July 1978 and who did not avail himself thereof will be required to pay the amount determined under section 15 and established as of 1 July 1978. The amount will be increased by interest, compounded annually, at the rates determined for each period in Schedule VI to the Act respecting the Government and Public Employees Retirement Plan (chapter R-10), for the period between 1 July 1978 and the date of the redemption proposal made by the Commission or, for the purposes of section 5, the date the plan becomes applicable to the person if it is later than the date of the redemption proposal. However, no interest will be computed for the period during which the redemption proposal is valid.
In the case of a person laicized after 1 July 1978 or a person referred to in section 7 who became a member of the Government and Public Employees Retirement Plan after that date but, in each case, at a time when the person was entitled to avail himself of the Act respecting pension coverage for certain teachers or, as the case may be, of this plan, the amount determined under section 15 shall be established as of 1 July of the year of laicization or, as the case may be, of the year in which the person became a member of the Government and Public Employees Retirement Plan. In such cases, the amount is increased by the interest prescribed in the first paragraph, computed from the date on which the amount is established.
1986, c. 44, s. 16; 1987, c. 47, s. 169; 1990, c. 87, s. 2.