- 5
Old pension scheme. under the Pensions Ordinance and Regulations, Cap. 89
1
Unreduced
=
$72,000 x 360 x
600
annual
=
$43,200 p.a.
pension
=
$42,400 p.a.
If he opts to commute 50% of annual pension into a lump sum, he will receive
-
Commuted = $42,400 x 50% x 14
pension
If he opts to commute 25% of annual pension into a lump sum, he will receive
$43,200 x 25% x 14
pension
gratuity
-
$296,800
plus
Reduced annual pension
(0057P)
=
$42,400 x 50%
$21,200 p.a.
Commuted
pension
gratuity
$151,200
plus
Reduced
annual pension
=
$43,200 x 75%
$32,400 p.a.