be
unable
to
the Scheme. able by the any reaso
7.6 All benefits shall be paid in Hong Kong dollars,
the Council should provided that administer the Scheme because of abnormal conditions be made in such other Hong Long, payment shall currencies as may be determined by the Council.
on
the
grounds
that
he
to cease
7.7
A Member seeking to qualify for his Guaranteed
has had Benefit service with the University by reason of ill-health, to the Council or disability shall produce accident
disability evidence of such ill-health, accident and shall substantiate his claim to the satisfaction of the Council, whose decision shall be final.
7.8
to
Cease
or
the
who intends A Member
service with University at age 55 or more may, during his final six months' service prior to cessation of service at age 55 or more, elect, irrevocably, to render all, or any part of his Guaranteed Benefit to purchase a pension annuity from the Scheme on such terms and conditions as will be notified to the Members from time to time by the Council on the advice of the Actuary. In the event of the Council electing to exercise in favour of a Member's spouse the powers conferred on the Council by Clause 7.3 above such spouse may within two months that it of receipt of notification by the Council intends to exercise such powers give notice in writing to the Council that the said spouse wishes to purchase from the Scheme a pension annuity and in such circum- stances the said spouse shall be entitled so to do in the
a retiring Member. The Council may, in its absolute discretion, supplement the amount of pension annuities payable under this Scheme from the Schene Fund after taking account of the report submitted pursuant to Clause 8.2 hereof and such other facts the Council may consider as being relevant provided however any supplemental amount shall be paid to all`annuitante generally and not to one annuitant or any one class of annuitant to the exclusion of any other or others.
same manner
48
7.9 Subject to the provisions of these Regulations, any benefit payable hereunder shall be calculated to the date of the Member's cessation of membership of
case
No interest on such amount shall be pay- Council in the event of late payment
or increased
for
7.10 In the event that, following the payment of a Member's Guaranteed Benefit or, in the event that the Council exercises the discretion vested in it by Clause 7.3(a) above and declares that it holde a lump sum in favour of a deceased Member's Dependants, the salary of the Member the deceased Kember (as the
be)
to the retrospectively nay effect that his Final Month's Salary
in fact higher than the figure used for the calculation of the
Benefit Guaranteed
or for the calculation of the the Council thea settled
the Dependants, amount
in the case of • deceased Member, re-open the may, calculation of the amount settled on the Dependants in accordance with Clause 7,3(b) above and shall, in the case of a Member who has retired or resigned, re-open the calculation of the Guaranteed Benefit applicable
necessary, to such Member and thereafter pay,
any outstanding balance provided however this clause shall
Neuber effect unless the
concerned Dependants (as the case may be) shall have paid to the Council such additional Subscriptions
have
On
order that
his
of
may be re- Clause 4.1 the retro-
the provisions quired in above relating to the period covered by spective increase in salary shall be complied with and in the event that this proviso is complied with the University shall contribute to
in respect additional
to necessary period as may be with Clause 4.2 above.
amount
CURRENCY FLUCTUATION PROTECTION
the Scheme Fund such of such retrospective ensure its compliance
74.1 The Gouncil, aftar taking into account:-
the financial position of the Fund, and
(i)
(ii)
the advice of the Actuary, and