13.—(1) The payment in lieu will be equivalent to a short service award, as defined in regulation B2 of the Pensions Regulations, to which the member would have been entitled if he had qualified for a pension from his date of leaving. Regulation B2(1) of the Pension Regulations shall have effect as if the words ‘is or was required to retire on account of age' were substituted by ‘retired under the terms of the Police Service of Northern Ireland and Police Service of Northern Ireland Reserve (Full-Time) Severance Regulations 2002'.
(2) A member who leaves under the scheme, who is entitled to a payment in lieu, will also be entitled to commute a proportion of his payment in lieu under regulation B7(4)(b) of the Pensions Regulations, in place of the commutation lump sum normally payable at 60 years.