Section 14(1) in The Navy (Pension) Regulations, 1964
(1)An officer who on the 1st June, 1953, was in service as a permanent commissioned officer shall no retirement have the right to elect to be governed in respect of his service award either by these regulations or by the Pension Regulations, 1943:Provided that the pension of an officer who elects to be governed by the Pension Regulations, 1943, shall be assessed on the substantive rank held by him on the 31st May, 1953.Explanation. - Service rendered by the officer from the 1st June, 1953, up to the date of retirement or invaliding shall qualify for pension.
