07-APR-1992 14:35
C.S.B. (2) 8685069
+852 524 6164
P.03
5.
(11)
Where the total amount of repayment exceeds the amount of contract gratuities (including interest accrued thereon less tax paid and interest allowed) in respect of a number of full tours of agreements immediately prior to the officer's transfer to the permanent and pensionable establishment, the period of service under that number of contracts As regarded as pensionable service already bought back. Any excess repayment will be returned to the officer.
(iii) The date of commencement of the officer's
pensionable service will be correspondingly adjusted as a result of the arrangements mentioned in (i) or (ii) above, and similarly, the officer's date of entry into the Widows ' and Children's Pensions Scheme (WCPS) will be adjusted, and excess CPS contributions, if any, will be refunded to him,
(iv)
no interest will be payable by the Government on any sums which are returned to the officers in circumstances mentioned in (i), (ii) and (iii) above.
If an officer leaves the service for any reason other than retirement or death (e.g. resignation, dismissal etc.) repayment will cease and no refund of any repayments will be made to the officer.
5
If an officer retires prematurely or dies before repayment has been completed, only the period of service of those contracts for which gratuities (plus interest less tax) have been repaid in full will be taken into account as pensionable service for the computation of his retirement benefit/death benefit. Part repayment which does not fully repay the gratuity (plus interest less tax) of a contract will be returned to the officer or his estate but no interest will be payable by the Government on the sums returned to the officer. Similarly the officer's date of entry into the Widows' and Children's Pensions Scheme (WOPS) will be adjusted and excess WCPS contributions, if any, will be returned without interest.
7.
As soon as an officer is permitted to buy back his past service, he should :-
(a) inform the Treasury through his Head of Department the method of repayment;