New Pension Scheme
under the Pension Benefits Ordinance and
Regulations 1987
1
Unreduced
$72,000 x (360 + 1.25 x 30) x
675
annual pension
= $42,400 p.a.
- 5
Unreduced
annual
Old pension scheme
under the Pensions Ordinance and Regulations, Cap. 89
1
$72,000 x 360 x
600
=
$43,200 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
gratuity
$296,800
pension
If he opts to commute 25% of annual pension into a lump sum, he will receive
Commuted
pension gratuity
**
$43,200 x 25% x 14
$151,200
plus
Reduced annual pension
(0057P)
=
$42,400 x 50%
-
$21,200 p.a.
plus
Reduced annual pension
$43,200 x 75%
= $32,400 p.a.