564. Where a person exercises the smoothing option, the amount of the new monthly benefits he is entitled to receive until he reaches 65 years of age is established by adding to the amount of the monthly benefits to which he is entitled under the Workers’ Compensation Act (chapter A-3) the product obtained by multiplying the amount of his reference benefits by the factor provided in Schedule IX according to his age at the date of the option and according to whether he is an injured worker or a surviving spouse. The amount of a person’s reference benefits is the lesser of(1) the amount of the monthly benefits to which he is entitled under the Workers’ Compensation Act at the date of the option; and
(2) the difference between(a) the sum of the retirement pension to which he will be entitled on his sixty-fifth birthday under the Act respecting the Québec Pension Plan (chapter R-9) in force at the date of the option and the pension to which he would be entitled under the Old Age Security Act (Revised Statutes of Canada, 1985, chapter O-9) if he were 65 years of age at the date of the option; and (b) the amount of the disability pension and the retirement pension he receives, where such is the case, under the Act respecting the Québec Pension Plan and the amount of the surviving spouse’s pension he receives, where such is the case, under the said Act if he is at least 55 years of age at the date of the option or if he is not, the amount of the latter pension to which he would be entitled if he were 55 years of age at that date.
From his sixty-fifth birthday, a person who has exercised the smoothing option is entitled to receive monthly benefits equal to the monthly benefits to which he would be entitled at that date under the Workers’ Compensation Act, less the amount of his reference benefits, plus the product contemplated in the first paragraph.