“144B Benefits — age 65 retirement

“144B Benefits — age 65 retirement

“(1) A former eligible employee entitled to delayed updated pension who retires at or after the age of 65 is entitled to age retirement benefits in accordance with Division 1 of Part V:

(a) that relate to the period of contributory service that ended on the day he or she ceased to be an eligible employee; and

(b) subject to adjustment (if any) under section 144H — as if his or her final annual rate of salary on ceasing to be an eligible employee is the final annual rate of salary on retirement.

“(2) For the purposes of subsection (1), the reference in paragraph 57 (1) (a) to ‘his last day of service’ is taken to be a reference to the former eligible employee’s last day of employment.