SUNDAY, OCTOBER 18, 1987
SINCE THE
LONG SERVICE
JANUARY
1.
WILL
INCUR
PROVISIONS PAYMENT RETROSPECTIVE LIABILITIES ON EMPLOYERS, A CUT-OFF DATE FOR RECKONABLE 1980. BUT IT WILL SERVICE HAS BEEN INITIALLY FIXED AT
BY RETROGRESS AT THE RATE OF ONE YEAR PER YEAR UNTIL IT COMES TO REST
1977. THIS CAN BE ILLUSTRATED IN THE 1989 AT JANUARY 1,
FOLLOWING
TABLE:
YEAR
RECKONABLE TO
NO. OF EFFECTIVE YEARS RECKONABLE
1986
1980
6
1987
1979
8
1988
1978
10
1989
1977
12
1990
1977
13
1991
1977
14
ETC.
·
EXPERIENCE
AND
FOLLOWING
THE LABOUR
IN THE LIGHT OF
GAINED SO FAR CONSULTATION WITH EMPLOYERS AND EMPLOYEES REPRESENTED ON ADVISORY BOARD, A NUMBER OF SIGNIFICANT IMPROVEMENTS WILL BE THE SCHEME.
RECEIVE THE
LONG
SERVICE
MADE TO
NOT LESS PAYMENT UPON
THE CHANGES WILL ENABLE WORKERS AGED 65 OR OVER WITH 10 YEARS VOLUNTARY RESIGNATION.
THAN
SERVICE
TO
OF SERVICE AN EMPLOYEE WHO HAS THE NECESSARY QUALIFYING YEARS
UNFIT BE MEDICALLY
FOR HIS PRESENT AND WHO HAS BEEN CERTIFIED TO EMPLOYMENT WILL ALSO RECEIVE LONG SERVICE PAYMENT UPON RESIGNATION.
ABLE TO OBTAIN
IN ADDITION, SURVIVING FAMILY MEMBERS WILL BE THE LONG SERVICE PAYMENT IF A QUALIFIED EMPLOYEE DIES IN SERVICE.
AS THE GOVERNOR
ANNOUNCED
IN
HIS
IN SPEECH
THE POLICY THREE MAJOR ADVANTAGES FROM A LEGISLATIVE COUNCIL, THE SCHEME HAS
TO CONTRIBUTE TO IT: HIS WORKER'S POINT OF VIEW: HE DOES NOT HAVE
CERTAIN SERVICE BEFORE THE INTRODUCTION OF THE SCHEME IS COUNTED TO A
GRADUALLY ACCUMLATING EXTENT, SO THAT HIS PAYMENT DOES NOT DEPEND ON MONEY IN A FUND; AND, MOST IMPORTANTLY, HIS PAYMENT IS FINAL SALARY AND IS NOT THEREFORE VULNERABLE TO EROSION BY INFLATION.
THE GOVERNMENT WILL ALSO LOOK AT HOW THE SCHEME BE IMPROVED IN FUTURE.
BASED ON HIS
CAN GRADUALLY
0
15
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