230
Retirement and pensions of officers etc.
Preservation
of pensions.
Payment
of pension.
United Kingdom-Trinidad and Tobago Public Officers Agreement
3. The entitlement of an officer who does not cease to be in the public service of Trinidad and Tobago before the appointed day to retire and his eligibility and that of his widow, children, dependants and personal represen- tatives to receive a pension shall be governed by the laws, regulations and administrative directions in force immediately before that day or by such other laws, regulations or administrative directions made thereafter that are not less favourable; and pensions shall be granted and paid to such officers and other persons accordingly.
4. (1) Pensions to officers who have been, or have ceased to be, in the public service of Trinidad and Tobago before the appointed day, or to their widows, children, dependants or personal representatives, shall be granted and paid or, if granted before that date, shall continue to be paid, in accordance with the laws, regulations and administrative directions governing those pensions on the relevant day or in accordance with such other laws, regulations or administrative directions made thereafter that are not less favourable.
(2) For the purposes of this Article, "the relevant day" means—
(a) in relation to a pension granted before the appointed day, the
day on which the pension was granted; and
(b) in relation to a pension granted on or after the appointed day
the day immediately before that day.
5. (1) Pensions paid outside the Federation after the appointed day shall be paid in sterling, and shall be calculated at the official rate of exchange prevailing on that date between the pound sterling and the currency in use in Trinidad and Tobago notwithstanding any variation in that rate:
Provided that if there is a general revision of salaries consequent upon a revaluation of the currency of Trinidad and Tobago as a result of which the pensionable emoluments of an officer may be increased the Government of Trinidad and Tobago may require that officer to agree that any pension that may be granted to him shall be calculated at the rate of exchange prevailing at the date of the revision of salaries before granting him the benefit of the increase of pensionable emoluments:
Provided further that in the event of a change in the monetary unit of currency in use in Trinidad and Tobago, such change shall not affect the calculations of any pension payable under this Article outside the Federation, so as to reduce the amount of the pension in terms of the pound sterling.
(2) Every pensioner who is being paid a pension on the appointed day shall exericse within six months of that date an option as to whether his pension and any pension that may become payable to his widow, children, dependants or personal representatives shall be paid in the Federation or outside the Federation.
Provided that where no option is exercised within six months after the appointed day an option shall be deemed to have been exercised for the payment of the pension either in the Federation or outside the Federation, as the case may be according to where it was being paid on that date.