Ford. 26.
Abatement of maturk. Jud.
Toluntary veterii unora. ibuti.
tony foil. 18.
Apros!
Aromati. 2. 13.
Pilon thick. He
Apps so
Governor la
Cotuieli. 240, 31
Careeper.
Working Cz 204742. 11.
Lorstipatinu bestiary 3bid. J.
4. An abatement at the rate of four per cent shall be made by the Colonial Treasurer or the Crown Agents as the case may be on each payment of the salary or pension of every public officer who shall enter the Civil Service of the Colony after the 31st December, 1890, or whose yearly salary, having previously been less than two hundred and forty dollars shall, after such date, be increased to two hundred and forty dollars or more, and of the salaries of the persons at present holding the offices mentioned in schedule A. hereto and of their successors in the said offices. All other payments and contributions to the fund shall be made to the Colonial Treasurer and placed to the credit of the fund. Provided always that on good and sufficient cause shown the Governor in Council may exempt from such abatement any officer mentioned in the said schedule.
5. The directors may admit any public officer who shall have been appointed before the coming into force of this Ordinance to contribute towards the fund, provided that such public officer shall pay forthwith, or by such instalments as the directors shall determine, a sum equal to all the abatements which would have been made from his salary and all the compound interest which would have accrued on such abatements if he had commenced to contribute to such fund on the date when this Ordinance first came into force. And every public officer so admitted to contribute to the fund shall be entitled to the privileges and shall be subject to the same conditions in respect of the fund as are all other contributors.
Management of the Fund.
6. The Governor in Council shall appoint annually or from time to time as may be necessary, five directors of the fund, who shall be eligible for re-appointment, and whose duty it shall be to superintend the management and administration of such fund, and to enforce the laws and regulations relating thereto. Any three of such directors shall form a quorum.
7. The directors shall, on or before the thirty-first day of January in each year, prepare a detailed statement and account of the fund for the year ending thirty-first day of December preceding, with such report on the state and prospects of such fund as the directors may deem necessary. Such statement and report shall be submitted to the Governor and laid before the Legislative Council, and shall be published in the Gazette. The outgoing directors shall continue to hold office until new directors are appointed.
8. The directors may make regulations not inconsistent with this Ordinance for the better carrying out of the same, and such regulations shall be subject to the approval of the Governor in Council, and shall be published in the Gazette.
9. All acts and decisions of the directors under this Ordinance may be revised and modified by the Governor in Council, whose decision shall be final in all questions which may arise under this Ordinance.
10. All payments into and out of the fund shall be made in dollars current in the Colony, and no pension shall be either increased or abated on the ground that the pensioner entitled to it is residing in a country where dollars are not current. When a contributor is drawing pay or pension in sterling, such pay or pension shall be abated four per cent in sterling, and the fund shall be credited with the equivalent of such abatement at the rate of exchange of the day.
11. A sum not exceeding five per cent shall be deducted from the total annual contributions to the fund to defray all expenses connected with its administration.
12. On the thirty-first day of December of the tenth year after the coming into force of this Ordinance, or so soon after as possible, and quinquennially thereafter, an actuary or actuaries to be appointed by the Governor in Council shall investigate the fund, and report fully as to its working, its results, its financial position, and whether any, and if so, what re-adjustment of pensions or contributions is necessary.
Investment of the Fund. Conditions of Contribution.
13. All moneys belonging to the fund shall be placed on deposit in the Colonial Treasury or in such Bank as may be fixed upon by the Directors, and shall bear interest at the yearly rate of six per cent without deduction. Such interest shall be calculated on the daily balances standing in the hands of the Colonial Treasurer to the credit of such fund, and the amount of interest due shall be computed half-yearly, and carried to the credit of such fund not later than the tenth day of January and the tenth day of July in each year. Each contributor shall be entitled to be credited in the Colonial Treasurer's books with compound interest on his contributions at the rate of six per cent, compounded half-yearly as aforesaid.
14. The abatement of four per cent from the salary of any contributor shall continue until such contributor shall
(1.) Have served for thirty-five successive years, or
(2.) Have completed the sixty-fifth year of his age, or
(3.) Cease to be a public officer,
whichever may first happen. Provided that no contributor shall be compelled to pay any contributions towards the fund beyond such as will entitle his widow or orphans to the maximum yearly pension provided for by section 38.
15. When the salary of any contributor shall be reduced, either by his retirement on pension or otherwise, the monthly contribution to be made by him during his remaining period for contribution as laid down in the preceding section, shall be four per cent. of the actual salary or pension to which he is entitled, and the pension payable on his death to his widow or orphans shall be reduced by the same amount as would have been added to it had such contributor's salary been increased in the same ratio as that in which it has been diminished. But such contributor may, should he so desire, continue his previous rate of contribution for the remainder of his said period on his giving notice in writing to the directors of his intention to do so, in which case his widow or orphans shall be granted the full pension to which such rate of contribution entitles them.
16. A contributor who, for any reason except transfer to other employment under the Crown, or dismissal for misconduct, shall retire from the service without being entitled to pension, or whose office shall be abolished without his being entitled to pension, shall cease to have any interest in the fund, and neither the widow nor orphan of such contributor shall have a claim upon such fund. But such contributor shall be entitled to repayment from the fund of one half of his total contributions without interest, provided such claim be lodged in the office of the Colonial Treasurer in writing within six months from the retirement of such contributor from the service of the Colony.
17. When any contributor, being a bachelor, or a widower without children born in wedlock, shall retire unmarried from the service on pension, one half of his total contributions to the fund shall be repaid to him without interest, provided his claim is lodged in manner prescribed by the preceding section.
18. When any contributor shall be transferred from the service of the Colony to other employment under the Crown, he shall, from the date of such transfer cease to contribute to the fund, but his widow or children, as the case may be, shall be entitled, on the death of such contributor, to a pension computed on the basis of the interest acquired by such contributor in the fund at the date of his transfer, in accordance with the tables hereinafter referred to. And if, when such contributor retires from the service of the Crown on pension, he is a bachelor or a widower without children born in wedlock, he may claim repayment from the fund of half of his total contributions, without interest, provided his claim is lodged in the manner prescribed by section 16.
19. No contributor who has been dismissed from the public service for misconduct nor his wife or children shall have any claim upon the fund on account of the contributions of such contributor thereto.
Ford. 26.
Abatement of maturk. Jud.
Toluntary veterii unora. ibuti.
tony foil. 18.
Apros!
Aromati. 2. 13.
Pilon thick. He
Apps so
Governor la
Cotuieli. 240, 31
Careeper.
Working Cz 204742. 11.
Lorstipatinu bestiary 3bid. J.
4. An abatement at the rate of four per cent shall be made by the Colonial Treasurer or the Crown Agouts as the case may be on each payment of the salary or pension of every publie otheer who "sball enter the Civil Service of the Colony after the 31st December, 1890, or whose yearly salary, having previously been less than two hundred and forty dollars shall, after such date, be increased to two hundred and forty dollars or more, and of the salaries of the persons at present holding the offices mentioned in schedule A. hereto and of their successors in the said offices. All other payments and contributions to the fund shall he made to the Colonial Treasurer and placed to the credit of the fund. Provided always that on good and sufficient cause shown the Governor in Conncil may exempt from such abatement any officer mentioned in the said schedule.
5. The directors may admit any public officer who shall have been appointed before the coming into force of this Ordinance to contribute towards the fund, provided that such public officer shall pay forthwith, or by such instul- ments as the directors shall determine, a sum equal to alt the abatements which would have been made from his salary and all the compound interest which would have acerned on such abatements if he had commenced to con- tribute to such fund on the date when this Ordinance first came into force. And every public officer ao admitted to contribute to the fund shall be entitled to the privileges and shall be subject to the same conditions in respect of the fund as are all other contributors.
Management of the Fund.
same
6. The Governor in Council shall appoint annually or from time to time as may be necessary, five directors of the fund, who shall be eligible for re-appointment, and whose duty it shall be to superintend the management and administration of such find, mod to enforce the laws and regulations relating thereto. Any three of such (liree- tors shall form a quorum.
on the
7. The directors shall, on or before the thirty-first day of January in each year, prepare a detuiled state- ment and accour of the fund for the year ending tirty first day of December preceding, with such report on the state mud prospects of such fund as the directors may deem necessary. Such statement and report shall be sub- mitted to the Governor and laid before the Legislativo Council, and shall be published in the Gazette. The outgoing directors shall continue to hold office until new directors are appointed.
8. The directors may make regulations not inconsistent with this Ordinance for the better carrying ont of the same, and such regulations shall be subject to the approval of the Governor in Council, and shall be published in the Gazette.
9. All acts and decisions of the directors auder this Onli- mance may be revised and modified by the Governor in Council, whose decision shall be fiual in all questions which may arise under this Ordinance.
10. All payments into and out of the fund shall be made in dollars current in the Colony, and no peusion shall be either increased or abated on the ground that the pensioner entitled to it is residing in a country where dollars are not current. When a contributor is drawing pay or pension in sterling, such pay or pension shall be abated four per cent in sterling, and the fund shall be credited with the equivalent of such abatement at the rate of exchange of the day.
11. A sum not exceeding five per cent shall be deducted from the total annual contributions to the fund to defray all expenses connected with its administration.
12. On the thirty first day of December of the tenth year after the coming into force of this Ordinance, or so soon after as possible, and quinquennially thereafter, an actuary or actuaries to be appointed by the Governor in Council shall investigate the fund, and report fully as to its working, its results, its financial position, and whether aur, and if so, what re-adjustment of pensions or contributions is
necessary.
Such/
Katthof 69 [ow 1879
may/
MY
shall be
investeste/ 10.7.27 1895]
Thd,26
ind. 26297
Investment of the Fund. Conditions of Contribution.
13. A moneys belonging to the fund shall be placed on deposit in the Colonial Treasury or in such Bank as muy be fixed upon by the Directors, and shall hear interest at the yearly rate of six por cent without deduction. Such interest shall be calculated on the daily balances standing in the hands of the Colonial Treasurer to the credit of such fund, and the amount of interest a due shall be computed half-yearly, and carried to the credit of such fund not later than the tenth day of January and the tenth day of July in each year. Bech contributor shall be entitled - 14 he credito l in the Colonial Frenenror's books with c paund interest on his contributions at the rate of six-per- cent, compered balf-yearly as aforesaiti. -------
14. The abatement of four per cent from the salary of any contributor shall continue until such contributor shall
(1.) Have seed for thirty five successive years, or (2.) Have completed the sixty-fifth year of his age, or (3.) Cense to be a public-offieer,
whichever may first happen. Provided that no contributor shall be compelled to pay any contributions towards the fund beyond such as will entitle his widow or orphans to the maximum yearly pension provided for by section 38.
15. When the salary of any contributor shall be reduced, either by his retirement on pension or otherwise, the monthly contribution to be made by him during his remaining period for contribution as laid down in the preceding section, shall be four per cent. of the actual salary or pension to which he is entitled, and the peusion payable on his death to his widow or orphans shall be reduced by the same amount as would have been added to it had such contributor's salary been increased in the same ratio as that in which it has been diminished. But such contributor may, should he so desire, continue his previous rate of contribution for the remainder of his said period on his giving notice in writing to the directors of his intention to do so, in which case his widow or orphans shall be granted the fall pension to which such rate of contribution entitles them,
16. A contributor who, for any reason except transfer to other employment tyler the Crown, or dismissal for misconduct, shall retire from the service without being entitled to pension, or whose office shall be abolished with- out his being entitled to pension, shall cease to havo auy interest in the fund, and either the widow nor orphan of such contributor shall have a claim upon such fund. But such contributor shall be entitled to repayment from the fund of one half of his total contributions roto without interest. provided such claim be lodged in the ads of the Colonial Treasurer in writing with six months from the retirement of such contributor from the service of the Colony,
17. When any contributor, being a bachelor, or a widower without children born in wedlock, shall retire unmarried from the service on pension, one half bis total contributions to the fund shall be repaid to him without interest, provided his claim is lodged in manner prescribed by the preceding
section.
18. When any contributor shall be transferred from the service of the Colony to other employment under the Crown, he shall, from the date of such transfer cease to contribute to the fund, but his widow of children, as the case may be. shall be entitled, on the death of such contributor, to a pension computed on the basis the interest acquired by such contributor in the fund of the date of his transfer, in accordance with the tables ereinafter referred to. And it, when such contributor etires from the service of the Crown on pension, he is a bachelor or a widower without children born in wedlock, he may claim repayment from the fund of half of hi total contributions, without interest,
The fail
bid. 4.
مهد
659
reft. Ford 18 21091
CPRACT OF Cancrinting Ibid. 7.
Contributed/
Low. 180794
Reduction of SALTY. Ibide 37,
Withdrawal from tvice without
Ibid. 9.
See 5.4
702.18179180
While wal Dumarried, do f. 390.
Tran: for to acher emplug. That. 10.
provided his clair is loaged in the, quae pob by han de Hntirea mire
16.
må 1.
19. No contributor who has been dismissed from the public service for misconduct nor his wife or children shall have any claim upou the Tund on account of the contribu tions of such contributor thereto.
Thirt. 31.
126 5 7 7 7
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