74. The Commission, upon the application of a beneficiary other than a beneficiary contemplated in the first paragraph of section 63.8, may, at any time after the pension becomes payable, make cash payment of the actuarial value, computed according to standards established by regulation, of any pension and, where such is the case, the benefit granted under Division III of the Act respecting pension coverage for certain teachers (1978, chapter 16), if the total amount is not more than $700 annually.
In no case may cash payment of the actuarial value of the pension granted to a child or that granted under subparagraph 3 of the first paragraph of section 56 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 of the Pension Index established by the said Act.
1977, c. 22, s. 34; 1982, c. 51, s. 107; 1983, c. 24, s. 41.