43.1(7)Where the member or former member is covered by a group life insurance plan sponsored, and paid for wholly or in part, by the employer, and the benefit to the surviving spouse, surviving common-law partner, designated beneficiary or estate under that plan is at least equal to the benefit referred to in subsection (1) or (2), a pension plan may provide that the benefit referred to in subsection (1) or (2) does not apply and the administrator shall pay to the surviving spouse, surviving common-law partner, designated beneficiary or estate, as the case may be, a sum equal to the contributions of the member or former member with interest.