561
CONFIDENTIAL
Ils put this
сопу
Minute/Submission
علا بده
comment?
J
LiKA, 233/1 Ffools
Mr Floor
بارت
Brate hú For winal comments.
14/10
M
7/10
HMOCS: REMAINING POLICY ISSUES ON OFFICERS
TRANSFERRING FROM CONTRACT TO PENSIONABLE SERVICE AND HMOCS
STATUS
X
7
Lfor the white or
lener
any
Problem
1.
A number of issues need to be resolved about contract officers who have recently transferred or will soon transfer to (pensionable and) HMOCS status. These involve the status of any "bought back" pensionable service, the length of time in which to buy back pensionable service, the deadline in which to apply for HMOCS membership, and the deadline in which to change from contract to pensionable status.
Recommendation
2. I recommend that:
(a) we should take a pragmatic view of bought back service and not try to limit it. (But it is worth looking at the actual figures for compensation, based on the "traditional " actuarial factors and the "supersession" factors we originally proposed, and the cap, to see if officers will suffer real loss.
(b)
That we should set 31 January 1993 as the final date for officers to actually to apply for membership of HMOCS;
(c)
Officers should be given(12)months from 31 January 1993 in which to buy back service;
(a)
That all officers should be informed that they must make the transfer to pensionable status by 31 March 1993, otherwise the Secretary of State will not accept them as members of HMOCS.
Background and Argument
BOUGHT BACK PENSIONABLE SERVICE
When officers in Hong Kong are permitted to transfer from contract terms to pensionable terms, the HKG also allows them to "buy back" pensionable service- so that they
The officer may are eligible to receive a larger pension/ buy back service for the whole period of his contract service by repaying his contract gratuities (25% of salary
period of then total (plus interest??]) he received over that period.
servie
buy.back.HMOCS.MVS
CONFIDENTIAL
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