162. The pension accrued under this plan by a pensioner who is a member of the Teachers Pension Plan or the Civil Service Superannuation Plan who continues to hold pensionable employment under this plan after the day on which the pensioner attains 65 years of age and who, under section 160, elects not to be a member of this plan, shall be computed and become payable from the date determined in the second paragraph of that section. The pension and benefits referred to in subparagraphs 7 and 8 of the first paragraph of section 97 shall cease to be paid for a period corresponding to the service that would have otherwise been credited to the pensioner while continuing to hold pensionable employment under this plan.