CO129-511-4 Application for posts at University of Hong Kong- payment and conditions of Service 28-4-1928 - 6-9-1928 — Page 95

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for married members of the staff is insufficient, and house

allowances are at the rates fixed by the Council, some regard

being had to the rate at which corresponding allow ces are

fixedin the Government service. Quarters in the University

compound carry free water and (up to a reasonable maximum)

free electric light.

There is at present no income-tax, in the Colony

and there are no rates or taxes in the usual English sense.

All salaries are subject to a deduction of 5 per

cent in respect of superannuation, to which the University

adds 10 per cent of the salary. The fund thus formed may,

at the option of the member of the staff be accumulated

either in dollars or in sterling, the rate of interest in

the first case being 6 per cent per annum, with half-yearly rests, and in the second case 5 per cent per annum, but the

sterling figure may in certain events be subject to reduction.

The entire sum accumulated can be withdrawn on retirement,

either at the end of a contract other than the first or after

the completion of 15 years' service or on attaining the retiring

age of 60, or from ill-health, or on leaving, with the consent

of the Council, to take up another appointment. It is equally

payable in case of death. In other cases, a member of the

staffs own accumulated contributions are alone payable.

Facilities are offered for keeping down premiums on life policies

out of superannuation contributien. The exact details of the

scheme are to be found in the superannuation regulations There

is a general age limit for retirement of 60 years. A member

of the staff serving on a permanent contract can retire at any

time on giving six months' notice.

governed

Other conditions of service are intended to be

•

by general regulations, liable to alteration from

time to time by the University Council.

There is a general obligation on members of the staff

2.