FRIDAY, NOVEMBER 20, 1992
PENSIONS PROVISIONS CHANGED TO MEET PRESENT DAY NEEDS
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THE PENSIONS MODIFICATION BILL 1992 AND THE PENSIONS ORDINANCES AND REGULATIONS (MISCELLANEOUS AMENDMENTS) BILL 1992 ARE GAZETTED TODAY (FRIDAY).
THE BILLS AIM TO MODERNISE THE DEPENDANT PENSIONS AND SERVICE PENSIONS SCHEMES FOR CIVIL SERVANTS TO MEET PRESENT DAY NEEDS AND ΤΟ REMOVE ANOMALIES AND DISCRIMINATORY PROVISIONS.
THE PENSIONS MODIFICATION BILL 1992 WILL MAKE MEMBERSHIP OF THE WIDOWS' AND CHILDREN'S PENSIONS SCHEME AND THE WIDOWS AND ORPHANS PENSIONS SCHEME VOLUNTARY ON AN APPOINTED DAY.
SINGLE OFFICERS WHO ELECT TO CEASE CONTRIBUTION ΤΟ THE DEPENDANT PENSIONS SCHEMES WILL RECEIVE A REFUND OF THEIR PAST CONTRIBUTIONS, WITH INTEREST.
MARRIED OFFICERS WHO ALSO ELECT TO CEASE CONTRIBUTION то THE SCHEMES WILL HAVE THEIR ACCRUED BENEFITS PRESERVED, AND THEIR DEPENDANTS WILL CONTINUE ΤΟ ENJOY A CONTINGENT DEPENDANT PENSION FROZEN AT THE LEVEL IF AND WHEN THEY LEAVE THE SCHEME.
OTHER PROPOSALS CONTAINED IN THE BILL INCLUDE:
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FEMALE OFFICERS, MODEL SCALE I STAFF AND CERTAIN DISCIPLINED SERVICES STAFF WHO HAVE PREVIOUSLY BEEN EXCLUDED, WILL HAVE THE OPTION TO JOIN THE VOLUNTARY WIDOWS' AND CHILDREN'S PENSIONS SCHEME ;
THE PENSIONABLE AGE LIMIT FOR CHILDREN WILL BE STANDARDISED AT THE AGE OF 18 IRRESPECTIVE OF SEX, WHICH WILL BE EXTENDED TO THE AGE OF 23 IF THE CHILD IS IN FULL-TIME EDUCATION;
THE PROVISIONS MAKING A HUSBAND'S ENTITLEMENT TO A DEPENDANT PENSION SUBJECT TO FINANCIAL DEPENDENCY ON HIS WIFE ARE REPEALED; AND
PENSION RIGHTS WILL BE PROVIDED FOR ILLEGITIMATE CHILDREN FOR REASONS OF CONSISTENCY WITH THE BILL OF RIGHTS.
ANOTHER MAJOR CHANGE CONTAINED IN THE PENSIONS MODIFICATION BILL IS TO MAKE ANNUAL PENSION ADJUSTMENT, ON THE BASIS OF THE MOVEMENT OF THE CONSUMER PRICE INDEX (A), A STATUTORY RIGHT. THIS HAS BEEN AN ADMINISTRATIVE PRACTICE SINCE 1976.
AS REGARDS THE PENSJONS ORDINANCES AND (MISCELLANEOUS AMENDMENTS) BILL 1992, IT CONTAINS MAINLY AMENDMENTS.
REGULATIONS TECHNICAL
COUNTING AND THE
THE MAJOR CHANGES INCLUDE THE STANDARDISATION FOR THE OF SERVICE BELOW THE AGF OF 18 YEARS AS PENSIONABLE SERVICE INTRODUCTION OF A MORE FLEXIBLE DEFINITION OF PENSIONABLE EMOLUMENTS.
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