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The right of any member or other beneficiary to any annuity, benefit or refund shall accrue as of the date of establishment.
Except as herein specifically otherwise provided, any annuity provided herein shall be payable for life in equal semimonthly installments from the beginning date thereof as fixed by the Administrator, on the fifteenth and last day of each month, first payment to be due as of October 15, 1959; Provided, That for the purpose of effectuating administration, a small pro rata amount may be paid for part of the month when the annuity or benefit payment begins after the first day of the month, or ends before the last day of the month.
No annuity or benefit shall be increased, decreased, revoked or repealed, except for error, or where specifically otherwise provided by this chapter.