10.629
to
1997.
those officers who stay on after 30 June icers who retire voluntary during the draw down period would, only benefit from RPI to the anniversary of the
a day
prior to their retirement. Subsequent instalments
would remain fixed at these levels. This would bring our Scheme much more into line with those which operated in the past, ie in these Schemes officers benefited from local salary increases which were applied to the relevant factor (based on actual age and service at the time of the recalculation) and where this resulted in an increased assessment subsequent instalments would not be allowed to fall below the reassessed level. We firmly believe that such an arrangement should be built into our Scheme not only because it is fair and reasonable to do so but it will also act as an incentive to stay on.
22. This is all I have to say about the draft Scheme for the moment. I am still looking into the provisions of para 10 of the Scheme Superseded Officers and I will revert as soon as I can. In the mean time I attach two examples showing how the compensation will be paid to those officers who stay on after the appointed day. Example 1 shows the amount of compensation (and the amount of the CAP) that would be paid where RPI is used in the formula to the appointed day. Example 2 shows RPI being applied to subsequent instalments (and the CAP) which, as previously explained, represents salary increases after the appointed day. 4% RPI is used in both examples.
ચૂં
Alan Mand
Alan N McDonald
PFU/OPD
ODA
4 May 1993
$
cc: Mr Fish
Mr Plumb Mr Foy Mrs Duff Mr Harper Mr Gorman