1967-HKRS29-8-34_Part04 — Page 29

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I-FIRST WIFE'S PROSPECTIVE PENSION.

The registered pension to be recorded on marriage la found by adding together the two amounts calculated in accordance with the following rules (a) and [(b), respectively-

RULE 1(0)

(2) Pension in consideration of the contributions paid before marriage.

Increase each contribution by 50 per cent (being Goverment's contribution); then sccumulate the con- tributions (so increased) at 34 per cent, compound interest, with yearly reats at each 31st December; and then multiply the result by the quantity found from Table A corresponding to the respective ages nex birthday of the husband and wife at the date of marriage.

The product gives the registered pension on ac- count of the contributions paid before marriage.

(b) Pension in consideration of the annual contribution current al the

date of marriage.

RULE IM

Increase the amount of the current annual contribu tion (which is obtained by multiplying by 12 the amount of the last monthly contribution) by 30 per cherd (being Govertimeat's contribution); then burn to the section of Table B which contains in the beading the age next birthday of the husband at the date of completion of bis period of contribution, or, where completion of the period of contribution occurs on bis attaining the age of 65 years without his baving contributed for 35 successive years, turn to the last section of Table B. and multiply the amount of the current annual contribution (so increased) by the quantity found from that section corresponding to the respective ages next birthday of the husband and wife at the date of marriage.

The product gives the registered pension on ac count of the annual contribution current at the date of marriage.

Application of rule ((a).

Increase and accumulation of contributions paid before marriage-

1st April 1958 to 31st December

1958

Contributions during 1959

$300 increased

by 50% to $ 450.00

$400 increased

by 50% to $ 600.00

One year's interest at 31% on $450 anosoodne

Contributions during 1960

One year's interest at 34% on $1,065,75

Contributions during 1961

15.75

$1,065.75

$1,703.05

$400 increased

by 50% to

$ 600,00

$ 37.30

$500 increased

by 50% to

$ 750.00

$ $9.61

$2,512.66

One year's interest at 34% on $1,703.05

Contribution from 1st January 1962 to 30th June 1962 (ie. date of marriage)

$250 increased

by 30% to

$ 375.00

$ 43.97

$2,931.63

Half-year's interest at 34% on $2,512.66

Quantity found from Table A-

Husband Wife

*Title*

30-264

Then the registered pension in consideration of contributions paid before marriage 32.931.69 x 264

$773.95

Application of rule 1(b).

EXAMPLE

Officer born OD

31st July 1932

Officer commiediced to "Contribute on

1st April 1958

Officer married on

30th June 1962

Annual contribution, 1st April 1958 to 31st

December 1960. .....................

$400

Annual contribution, 1st January 1961 to

date of marriage

Angual contribution current at date of marriage ......... $500 Current manual contribution increased by 50%

5750

Quantity found from Table B, section for officers aged 61 next

birthday at completion of period of contribution-

$500

Date of completion of contribution period Wife born on

1st April 1993

Husband Wife*

301 20

4.81

31st August 1942

Officer's age next birthday at date of

marriage

$750 X 4,81

30

Officer's age next birthday at completion of

contribution period

61

Wife's age next birthday at date of marriage 20

Then the registered pension in consideration of annual contribution current al marriage

= $3,607.50

* Yorr-Where the age a non elven in the Tables, proceed as Mured in the acneral

etkedpica Diven is dection F.