86. Where a member dies before receiving any refund or benefit, other than that provided for in section 69.1, his spouse or, if the member does not have a spouse, his successors shall be entitled to receive a lump sum payment equal to or greater than
(1) the value of any pension to which the member was entitled before his death;
(2) if the member was not entitled to a pension before his death, the value of the deferred pension to which he would have been entitled had he ceased to be an active member on the day of his death, for a reason other than his death;
(3) if the member was not entitled to a pension before his death or if, under the circumstances described in subparagraph 2, he would not have been entitled to a pension, to the member contributions and additional voluntary contributions paid by the member, with accrued interest.
Any voluntary additional contribution credited to the account of the member and any member contribution paid in excess of the limit set by section 60, with accrued interest, shall be added to the values referred to in subparagraphs 1 and 2 of the first paragraph. The values shall, in addition, be established without reference to the assumptions as to survival or mortality for the period prior to the first payment of the pension.
This section does not apply if the member’s surviving spouse is, from the death of the member, entitled to a pension the value of which is equal to or greater than the value of the pension benefit provided in the said section.
1989, c. 38, s. 86; 1997, c. 19, s. 8; 1999, c. 40, s. 254.