66. The Commission, upon the application of a beneficiary other than a beneficiary contemplated in the first paragraph of section 61, may, at any time after the pension becomes payable, make cash payment of the actuarial value, computed in accordance with the standards established by regulation, of a pension, and, as the case may be, of benefits granted under Division III of the Act respecting pension coverage for certain teachers (1978, chapter 16) if the aggregate amount does not exceed $700 annually.
In no case may cash payment of the actuarial value of the pension granted to a child or of the pension granted under paragraph 6 of section 32 be made if the pensioner is under 65 years of age.
The amount of $700 is, at the time prescribed under section 119 of the Act respecting the Québec Pension Plan (chapter R-9), indexed annually by the rate of increase in the Pension Index eatablished by the said Act.