3.
SUNDAY, OCTOBER 18, 1987
LONG SERVICE PAYMENT IMPROVED
THE LONG SERVICE PAYMENT SCHEME UNDER THE EMPLOYMENT ORDINANCE HAS BEEN IN OPERATION FOR ALMOST TWO YEARS AND NO MAJOR DEFECTS HAVE BEEN IDENTIFIED.
ORIGINALLY, IT PROVIDED ONLY FOR EMPLOYEES WHOSE EMPLOYMENT CONTRACTS ARE TERMINATED FOR REASONS OTHER THAN SUMMARY DISMISSAL, REDUNDANCY OR RESIGNATION.
UNDER THE PRESENT SCHEME, AN EMPLOYEE MUST SATISFY A MINIMUM QUALIFYING YEARS OF SERVICE BEFORE HE IS ENTITLED TO A LONG SERVICE PAYMENT. THE REQUIRED NUMBER OF YEARS OF SERVICE IS RELATED EMPLOYEE'S AGE AS FOLLOWS:
AGE
YEAR OF SERVICE REQUIRED
TO THE
LESS THAN 41
41
42
43
44
10
9
8
7
6
5
NOT LESS THAN 45
A LONG SERVICE PAYMENT WILL AMOUNT TO TWO-THIRDS OF A WAGES FOR EACH YEAR OF SERVICE, UP TO A MAXIMUM LIMIT OF 12 WAGES.
FOR DAILY-RATED OR PIECE-RATED EMPLOYEES, THE AMOUNT CALCULATED AT THE RATE OF 18 DAYS OF WAGES FOR EVERY YEAR OF IT WILL BE REDUCED PROPORTIONALLY IN THE CASE OF YOUNGER AS FOLLOWS:
MONTH'S MONTHS'
I
WILL BE SERVICE. EMPLOYEES
AGE
AMOUNT OF LONG SERVICE
PAYMENT PAYABLE
NOT LESS THAN 40 YEARS
36 YEARS OR MORE BUT LESS
THAN 40 YEARS
LESS THAN 36 YEARS
100 PER CENT
75 PER CENT
50 PER CENT
SINCE THE