XN000022-1987-10-18 — Page 4

3.

SUNDAY, OCTOBER 18, 1987

LONG SERVICE PAYMENT IMPROVED

THE LONG SERVICE PAYMENT SCHEME UNDER THE EMPLOYMENT ORDINANCE HAS BEEN IN OPERATION FOR ALMOST TWO YEARS AND NO MAJOR DEFECTS HAVE BEEN IDENTIFIED.

ORIGINALLY, IT PROVIDED ONLY FOR EMPLOYEES WHOSE EMPLOYMENT CONTRACTS ARE TERMINATED FOR REASONS OTHER THAN SUMMARY DISMISSAL, REDUNDANCY OR RESIGNATION.

UNDER THE PRESENT SCHEME, AN EMPLOYEE MUST SATISFY A MINIMUM QUALIFYING YEARS OF SERVICE BEFORE HE IS ENTITLED TO A LONG SERVICE PAYMENT. THE REQUIRED NUMBER OF YEARS OF SERVICE IS RELATED EMPLOYEE'S AGE AS FOLLOWS:

AGE

YEAR OF SERVICE REQUIRED

TO THE

LESS THAN 41

41

42

43

44

10

9

8

7

6

5

NOT LESS THAN 45

A LONG SERVICE PAYMENT WILL AMOUNT TO TWO-THIRDS OF A WAGES FOR EACH YEAR OF SERVICE, UP TO A MAXIMUM LIMIT OF 12 WAGES.

FOR DAILY-RATED OR PIECE-RATED EMPLOYEES, THE AMOUNT CALCULATED AT THE RATE OF 18 DAYS OF WAGES FOR EVERY YEAR OF IT WILL BE REDUCED PROPORTIONALLY IN THE CASE OF YOUNGER AS FOLLOWS:

MONTH'S MONTHS'

I

WILL BE SERVICE. EMPLOYEES

AGE

AMOUNT OF LONG SERVICE

PAYMENT PAYABLE

NOT LESS THAN 40 YEARS

36 YEARS OR MORE BUT LESS

THAN 40 YEARS

LESS THAN 36 YEARS

100 PER CENT

75 PER CENT

50 PER CENT

SINCE THE