WEDNESDAY, DECEMBER 2, 1992
GOVT MODERNISES PENSION PROVISIONS
THE
SERVANTS ΤΟ SERVICE, MR (WEDNESDAY).
1992
GOVERNMENT IS TO MODERNISE PENSION SCHEMES FOR CIVIL MEET PRESENT DAY NEEDS, THE SECRETARY FOR THE CIVIL
BARRIE WIGGHAM, TOLD THE LEGISLATIVE COUNCIL
TODAY
MOVING THE SECOND READING OF THE PENSIONS MODIFICATION BILL AND THE PENSIONS ORDINANCES AND REGULATIONS (MISCELLANEOUS AMENDMENTS) BILL 1992, MR WIGGHAM SAID THE BILLS AIMED TO MODERNISE THE DEPENDANT PENSIONS AND SERVICE PENSIONS SCHEMES FOR CIVIL SERVANTS ΤΟ MEET PRESENT DAY NEEDS AND TO REMOVE ANOMALIES AND DISCRIMINATORY PROVISIONS.
THE PENSIONS MODIFICATION BILL 1992 WILL MAKE MEMBERSHIP OF THE WIDOWS AND ORPHANS PENSION SCHEME AND THE WIDOWS' AND CHILDREN'S PENSIONS SCHEME VOLUNTARY ON AN APPOINTED DAY.
"EXISTING MEMBERS MAY ELECT TO CEASE ΤΟ MAKE CONTRIBUTIONS WITHIN SIX MONTHS FROM THE APPOINTED DAY, MR WIGGHAM SAID.
"
"UNMARRIED OFFICERS WILL RECEIVE A REFUND OF THEIR PAST CONTRIBUTIONS WITH INTEREST WHEN THEY CEASE TO CONTRIBUTE TO THE SCHEME.
"MARRIED OFFICERS WILL HAVE THEIR ACCRUED BENEFITS AND THEIR DEPENDANTS WILL CONTINUE TO ENJOY A CONTINGENT PENSION FROZEN AT THE LEVEL WHEN THEY LEAVE THE SCHEME."
OTHER PROPOSALS CONTAINED IN THE BILL INCLUDE:
*
*
*
ΤΟ
PRESERVED,
EXTEND THE VOLUNTARY WIDOWS' AND CHILDREN'S SCHEME TO FEMALE OFFICERS MODEL SCALE I STAFF AND JUNIOR DISCIPLINED SERVICES OFFICERS;
Į
DEPENDANT
PENSIONS CERTAIN
TO STANDARDISE THE PENSIONABLE AGE LIMIT FOR CHILDREN AT 18, IRRESPECTIVE OF SEX;
TO REPEAL THE PROVISION MAKING A HUSBAND'S ENTITLEMENT TO A DEPENDANT PENSION SUBJECT TO FINANCIAL DEPENDENCY ON HIS WIFE;
AND
TO PROVIDE PENSION RIGHTS FOR ILLEGITIMATE CHILDREN UNDER THE DEPENDANT PENSION AND SERVICE PENSION SCHEMES.
MR WIGGHAM SAID ANOTHER MAJOR CHANGE CONTAINED IN THE PENSIONS MODIFICATION BILL WAS TO MAKE ANNUAL PENSION INCREASES AS OF RIGHT, SO AS TO MAINTAIN THE ORIGINAL PURCHASING POWER OF PENSIONS.
"ADJUSTMENTS WILL BE MADE ANNUALLY ON THE BASIS OF THE MOVEMENT
OF THE CONSUMER PRICE INDEX (A),' HE SAID.
"IN EFFECT, THIS FORMALISES THE CURRENT PRACTICE ADJUSTMENTS BY EMBODYING IT IN LEGISLATION."
FOR PENSION
/AS REGARDS