2.—(1) Subject to the provisions of paragraph (2) below, the provisions of sections 124 to 126 of the Act (increases in rates of benefit) shall apply to the amount of graduated retirement benefit payable for each unit of graduated contributions and to increases of such benefit under the provisions of Schedule 2 hereto.
(2) The provisions of section 125(2) shall apply as they apply to a sum specified in a provision mentioned in section 125(2)(a) or (b); and the provisions of section 126(4) shall apply as they apply to a sum specified in a provision mentioned in section 125(1)(a) or (b).