C OFFICERS WHO RETIRE FROM UK GOVERNMENT SERVICE,
OR SOME OTHER SCHEDULED GOVERNMENT SERVICE, IN PENSIONABLE CIRCUMSTANCES AND WHO ARE ELIGIBLE FOR A SCHEDULED HONG HONG PENSION BASED ON THE HIGHEST PENSIONABLE EMOLUMENTS EARNED IN THEIR FINAL COUNTRY OR TERRITORY OF SERVICE, (BEFORE OR AFTER THE OPERATIVE DATE OF THE SCHEME).
1. CALCULATION OF OFFICER'S NOTIONAL HONG KONG PENSION
WHERE THE OFFICER RETIRES BEFORE THE SCHEME COMES INTO OPERATION.
(i) THE NOTIONAL HK PENSION WILL BE CALCULATED WITH
REFERENCE TO THE ACTUAL HK BASIC PENSION CONVERTED INTO STERLING USING THE SAME EXCHANGE RATE AS WAS USED TO DETERMINE THE OFFICER'S PENSION SUPPLEMENT, IF ANY, PAYABLE UNDER ANY REGULATIONS MADE UNDER SECTION 11 OF THE PENSIONS INCREASE ACT 1971.
(ii) THE NOTIONAL PENSION CALCULATED UNDER (i) WILL BE DEEMED
TO BEGIN ON THE SAME DATE AS THE ACTUAL HK PENSION (FOR PENSION SUPPLEMENT PURPOSES) AND INCREASED IN APRIL OF EACH YEAR TO REFLECT THE MOVEMENTS IN THE UK RPI.
2. CALCULATION OF OFFICER'S NOTIONAL HONG KONG PENSION WHERE
THE OFFICER RETIRES AFTER THE SCHEME COMES INTO OPERATION
(i) FOLLOW THE RULES FOR 1(i) AND (ii) ABOVE EXECPT WHERE THE
THE EXCHANGE RATE TO DETERMINE THE SCHEDULED HK PENSION FALLS BELOW THAT ON THE ON THE OPERATIVE DATE OF THE SCHEME [OR £1: HK$16]. IN THESE CIRCUMSTANCES THE NOTIONAL HK PENSION WILL BE CALCULATED IN THE SAME WAY AS THE ACTUAL HK PENSION UNDER THE RELEVANT LAW EXCEPT THAT WHEN CONVERTING THE HIGHEST PENSIONABLE EMOLUMENTS INTO HK DOLLARS THE RATE OF EXCHANGE [ON THE OPERATIVE DATE OF THE SCHEME] OR [£1:HK16] SHOULD BE USED. THE SAME EMOLUMENTS USED TO APPORTION THE ACTUAL HK PENSION SHOULD BE USED TO DETERMINE NOTIONAL HK PENSION IN HK DOLLARS.
(ii) THE STERLING VALUE OF THE NOTIONAL HK PENSION CALCULATED
AT (i) ABOVE IS FOUND BY CONVERTING THE PENSION INTO STERLING USING THE SAME EXCHANGE RATE TO COVERT THE OFFICER'S HIGHEST PENSIONABLE EMOLUMENTS INTO HK DOLLARS.
3. CALCULATION OF OFFICER'S ACTUAL GROSS PENSION INCOME
(i) FOLLOW THE RULES FOR A2(i)(a), (b) AND (c) ABOVE.
4. CALCULATION OF SUPPLEMENT PAYABLE UNDER THE SCHEME
(i) FOLLOW THE RULES FOR A3(i) AND (ii) ABOVE.
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