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Age of retirement.
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32. It should also be noted that house allowance will not be added to the salary on which pension is calculated under the new terms.
33. An example of how officers can make a rough estimate of their probable pension under Pension Regula- tion B is given below:-
Length of service
-30 years
Final retiring emoluments-$12,000 per annum (including expatria- tion pay but ex- cluding H.C.L.)
Pension would be 12000×30-$7,200 per annum.
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An officer may at his or her option, exercisable up to the date of retirement, elect to receive:-
(a) his or her total pension calculated as above,
or
(b) a reduced pension and gratuity.
If option (b) is exercised the reduced pension will be calculated at of the total annual pension he or. she would have received under (a); and the gratuity will equal ten times the annual value of the deduction from the full pension.
Example: The officer in the example above elects to receive a reduced pension and gratuity. Full pension would have been $7,200.
Reduced pension=3×$7,200-$5,400. Gratuity ($7,200-$5,400) × 10-$18,000.
34. The Secretary of State has not yet reached a decision on the Salaries Commission's recommendations regarding retirement on or after reaching the age of 45. Officers who opt to come on to the new terms should note that the Secretary of State's eventual decision in this respect may have the effect of reducing to 45 the age at which they may be required to retire.
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HIGH COST OF LIVING ALLOWANCES.
35. Temporary scales have been approved for officers in receipt of revised salaries below $1,500 per month, but these are subject to revision on a date not later than 1st July, 1948, and thereafter each quarter. The Secretary of State is considering the question of high cost of living allowances for officers receiving revised salaries of more than $1,500 per month.
of payment.
36. Payment of the temporary high cost of living Conditions allowances, which save in exceptional circumstances are payable only when an officer is in the Colony, will be subject to the following conditions:-
(a) Payment will be made on basic salaries only.
Expatriation pay will be excluded.
(b) For officers drawing revised basic salaries of $150 per month and over the allowance will be paid according to the following rules:—
or
(i) A married man, widower or widow with one more dependent children will receive 100% of the standard allowance for his or her salary group.
(ii) A married man with no children will receive 80% of the standard allowance, provided that he is maintaining his wife.
(iii) Widowers and widows without children and unmarried officers will receive 60% of the standard allowance..
(iv) Married women will be paid at the rates laid down in (iii) even though their husbands are drawing allowances at the rates' set out in (i) or (ii).
(v) A dependent child for the purpose of high cost of living allowance will be a son under the age of 18 or an unmarried daughter under the age of 21.
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