FRIDAY, JULY 29, 1983
- 9
GRATUITY MULTIPLYING FACTOR REVISED
***
THE MULTIPLYING FACTOR USED FOR CALCULATING THE COMMUTED PENSION OF CIVIL SERVANTS HAS BEEN REVISED FROM 12-1/2 TO 14 AS FROM TODAY.
THIS AMENDMENT IS CONTAINED IN THE PENSION (AMENDMENT) REGULATIONS 1983 PUBLISHED IN THE GAZETTE TODAY.
A GOVERNMENT SPOKESMAN EXPLAINED THAT A RETIRING CIVIL SERVANT MAY COMMUTE UP TO 25 PER CENT OF HIS ANNUAL PENSION INTO A LUMP SUM GRATUITY, AND THEN RECEIVE A CORRESPONDINGLY REDUCED PENSION THEREAFTER.
THE LUMP SUM GRATUITY WAS 12-1/2 TIMES OF THE ANNUAL PENSION COMMUTED. THIS FACTOR HAD BEEN IN USE SINCE 1954. THE NEW FACTOR OF 14 TAKES INTO ACCOUNT THE IMPROVEMENT IN LIFE EXPECTANCY SINCE 1954.
THE FACTOR IS DESIGNED TO ENSURE THAT THE LUMP SUM GRATUITY IS BROADLY COMPARABLE IN VALUE TO THE PORTION OF THE ANNUAL PENSION IT REPLACES.
SUMMER ACTIVITIES TO BE LAUNCHED
***
A SERIES OF RECREATIONAL AND EDUCATIONAL EVENTS WILL BE UNVEILED FOLLOWING THE LAUNCHING OF THE SUMMER YOUTH PROGRAMME IN MONG KOK AND KWUN TONG THIS WEEKEND.
TOMORROW (SATURDAY) THE MONG KOK DISTR CT OPENING CEREMONY WILL BE HELD AT 1.15 PM AT THE CHAN HING SOCIAL SERVICES CENTRE. IN FUK TSUEN STREET WITH GAMES STALLS, SINGING PERFORMANCES BY POPULAR SINGERS AND THE MONG KOK DISTRICT CHILDREN'S CHOIR. THE EVENT WILL BE BROADCAST LIVE ON RADIO TELEVISION HONG KONG.
TO FULFIL THIS YEAR'S THEME OF BETTERING ONESELF THROUGH COMMUNITY SERVICES, MONG KOK DISTRICT OFFICE HAS ORGANISED A VOLUNTEER AWARD SCHEME TO ENCOURAGE VOLUNTEERS IN THE DISTRICT TO SERVE THE COMMUNITY.
ON SUNDAY (JULY 31), THE KWUN TONG DISTRICT SUMMER YOUTH PROGRAMME OPENING WILL BE HELD AT THE TSUI PING ROAD RECREATION GROUND FROM 2 PM TO 5 PM.
ABOUT 200 YOUNG PEOPLE WILL HELP CLEAN THE KAI LIM ROAD IN TSUI PING ROAD ESTATE, WHILE GIRL GUIDES WILL TAKE PART IN A COMPETITION TO KNIT WOOLLEN SCARVES FOR ELDERLY PEOPLE IN THE DISTRICT.
TEN GAME STALLS WILL BE PUT UP IN THE PLAYGROUND FOR THE RESIDENTS.
/10
Page 10Page 11