8(1)If the commuted value of the benefit of a contributor is divided under section 22.01 of the Act, the annual allowance, immediate pension or deferred pension to which the contributor is entitled on cessation of employment as a teacher shall be revalued so that it represents the annual allowance, immediate pension or deferred pension to which the contributor would have been entitled at that time had the division not been made, less the spouse’s portion, including any escalated adjustment calculated in accordance with the escalation formula in effect under the Act on the date of marriage breakdown, between the date of marriage breakdown and the date of cessation of employment as a teacher.