39. The amount to which the person referred to in section 38 is entitled is equal to the difference between(1) the amount of the pension he will receive at the time the amount computed under this section becomes payable; and
(2) the amount of the pension he would be receiving, excluding the years and parts of a year redeemed under the pension fund of officers of education established by Part VIII of the Education Act (Revised Statutes of Québec, 1964, chapter 235) and adding an amount equal, for all his years and parts of a year of teaching within the meaning of the second paragraph of section 20 and for the years and parts of a year redeemed under the said pension fund, to 1.6% of the person’s last annual pensionable salary or of $14 000, if his last annual pensionable salary is less than that amount.
The annual pensionable salary is the pensionable salary, within the meaning of the pension fund to which the person was contributing, that he has received or would have received on an annual basis for a full-time employment.