46. Where, under this plan, a contributor acquires entitlement to a pension or annual allowance totalling less than $1,065 per year, he may, at any time after that pension or retirement allowance is payable to him, apply to Retraite Québec for cash payment of the actuarial value of that pension or annual allowance.
That amount shall, at the time prescribed under section 119 of the Act respecting the Québec Pension Plan (chapter R-9), be indexed annually by the rate of increase in the Pension Index determined under that Act.