5
B
THESE
RETIREMENT
RECEIVE
VTC.
THEIR EARNED PENSION THEY WILL RETAIN
OFFICERS WILL
FROM THE
HOUSING BENEFITS THAT ELIGIBILITY FOR AVAILABLE TO CIVIL SERVANTS IF THESE ARE THE VTC.
ON THEIR ARE CURRENTLY NOT PROVIDED BY
THE EMPLOYMENT OF ALTERNATIVELY, OFFICERS WHO TRANSFER TO
PENSIONS SCHEME UNDER THE VTC CAN OPT FOR A MIXED SERVICE
IF WHICH THEY WILL CONTINUE TO EARN PENSION ENTITLEMENTS AS THEY WERE CIVIL SERVENTS.
RETAIN THEIR
ARE
THEY WILL ALSO BE GIVEN SPECIAL PERMISSION TO ELIGIBILITY FOR CIVIL SERVICE HOUSING BENEFITS IF THESE NOT PROVIDED BY THE VTC.
THAT THE TEITD WOULD THE SPOKESMAN SAID IT HAD BEEN DECIDED
EMPLOYMENT OF ALL STAFF NOT BE DISESTABLISHED AND AS THE CONTINUED
OF OFFICE TERMS WAS NOW GUARANTEED, THE EARLIER OPTION OF ABOLITION WAS NO LONGER APPLICABLE.
41
"HOWEVER, TO ENSURE THAT STAFF DO NOT LOSE OUT IN THE TRANSFER, SEVERAL FEATURES HAVE BEEN ADDED TO MAKE THE PACKAGE MORE ATTRACTIVE, THE SPOKESMEN SAID.
WILL BE BASED
FREEZING
THE
IN THE CASE OF FROZEN PENSION, THE CALCULATION ON THE SALARY POINT AT THE TIME OF TRANSFER, INSTEAD OF PENSION AT THE LAST SALARY AMOUNT AS ORIGINALLY PROPOSED.
"THIS MEANS THAT BENEFIT FROM SUBSEQUENT INCREASES SPOKESMAN POINTED OUT.
THE
PENSIONS
RECEIVED BY
IN CIVIL
OFFICERS SERVICE SALARIES,
**
WILL THE
ADDITIONALLY, STAFF WHO
ΤΟ OPT
WILL SCHEMES
TRANSFER TO
RECEIVE
A
THE VTC UNDER SIGN-UP BONUS
PWO PENSION EITHER OF THE EQUIVALENT TO THREE MONTHS' SUBSTANTIVE SALARY.
ΤΟ
MEET THE
STAFF'S
CONCERN
THAT THEIR FUTURE
DECIDED
ALSO
THAT A ENHANCE VTC ON
IN ORDER PROMOTION PROSPECTS SHOULD BE PRESERVED, IT HAS BEEN SHADOW PROMOTION SYSTEM SHOULD BE INTRODUCED. THIS WILL
TRANSFER WHO THE RETIREMENT BENEFITS OF BOTH THOSE FROZEN PENSION AS WELL AS THOSE WHO REMAIN AS CIVIL SERVANTS.
ΤΟ THE
HIGHER
BEFORE TRANSFER
"AS A RESULT, SOME 120 OFFICERS WHO HAVE BEEN ACTING IN RANK POSTS IN THE VTC WILL BE SUBSTANTIVELY PROMOTED TO VTC, THE SPOKESMAN EXPLAINED.
"IN FUTURE,
WHEN
ARE
PROMOTED
CIVIL SERVANTS HIERARCHY, CORRESPONDING CIVIL SERVICE SHADOW POSTS TO ENABLE THEIR PROMOTION WITHIN THE CIVIL SERVICE,
IN
THE
VTC
WILL BE CREATED HE ADDED.
COMMITTEE
OF
AS
SOON
THEY
WILL
SUBJECT TO THE PROVISION OF FUNDS BY THE FINANCE THE LEGISLATIVE COUNCIL, FORMAL OFFERS WILL BE MADE TO STAFF AS THE SHADOW PROMOTION ARRANGEMENTS HAVE BEEN FINALISHED. BE GIVEN THREE MONTHS TO EXERCISE THEIR OPTIONS.
/THE SPOKESMAN