(iii)
the intention of the University which is hereby declared that payments by way of compensation shall be given to members in respect of major currency fluctuations which affect the relative values of their Guaranteed Benefits and the Fund
may make supplementary payments from the Fund to those Kembers who have become entitled to their Guaranteed Benefits upon cessation of membership occurring in the immediately preceding financial year of the Fund.
7A.2 In determining the amount of supplementary pay- ment which may be made to any such Member the Council will take into account the advice of the Actuary. In formulating his advice, the Actuary will take into consideration:
(i) the Member's Salary at the date of termi- nation of his membership of the Scheme, and
(ii)
the Member'a Salary at the date of each previous salary revision occurring on after April 1, 1982, and
Or
(iii)
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the values of an appropriate currency exchange index
each of the dates referred to in sub-clauses (i) and (ii) above.
7A.3 Upon the Council determining that supplementary benefite are payable in respect of
immediately preceding financial year of the Fund, such supplemen- tary payments will be calculated by a uniform and co sistent method and will be paid to those Members who have become entitled to their Guaranteed Benefics upon cessation of membership occurring in the immediately preceding financial year of the Fund,
VALUATION AND REPORTS
The Council shall appoint an Actuary who shall responsible for advising the Council on il relevant aspects of the operation of the Scheme and in parti-
BOOD
as pos-
cular, for submitting to the Council sible after December 31st in each year #0 annual actuarial valuation of the Scheme covering the follow- ing items together with such other data as the Actuary may consider necessary to reflect the position of the Scheme or as may be requested by the Council:-
(a) the total of all member's benefits accrued as at the end of the Scheme' financial year;
(b) the amounts necessary to fund the Scheme at that date, taking iate account the membership of the Scheme, the benefite payable and the contingencies on which such benefits become payable, and the amount retired members and terms of any pensions payable to under Clause 7.8;
(c) a summary of the membership of the Scheme;
(d)
a description of the nature of the assets of the Scheme, their total audited value and the basis of that valuation; and
consi- (e) the Subscriptions and Contributions dered necessary 'to maintain the solvency of the Scheme in the ensuing financial year.
the valuation report required In addition to 8.2 under Clause 8.1, the Actuary shall, at the same time, in the cost submit to the Council advice on movements
of living in Hong Kong and the extent to which pension supple- annuities purchased from the Scheme might be manted, with a statement on the estimated cost of such supplementation and the ability of the Scheme Fund to support then.
A copy of the Actuary's valuation report shall be made available for any member's inspection on request at the offices of the Daiversity Finance Officer.
RESTRAINTS ON USE OR PAYMENTS OF BENEFITS
9.1 A Nembar shall not charge, assign, pledge or drav or may become due to him against any amounts which are under these Regulations,
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