TNAG-0697-FCO40-847-Pension-scheme-for-governors-1978 — Page 125

SECTION 1: INTRODUCTION

1.1

This scheme will come into operation on

cited as the Governors' Pension Scheme 1977.

1977, and may be

jihy

Definitions

1.2

are fiture

In this Scheme unless the context otherwise requires

"equivalent United Kingdom salary" means the notional United Kingdom salary

taken into account in assessing the pensionable emoluments of a Governor, as

determined by the Secretary of State;

"final pensionable emoluments" means with effect from 1 January 1974 pensionable emoluments during that year out of the last three years of service as a Governor in which his pensionable emoluments were highest, provided that if the final pensionable emoluments as defined are less than

As

vebunkbewed the final salary as defined of a Governor who is serving or who has served

7

adraw age?

of final salary

prior to the coming into effect of this Scheme then the final salary as a

Governor shall be taken for the purposes of determining any retirement

benefits under this Scheme if that is to his advantage;

"final salary" means salary during that year out of the last three years of service (whether as a Governor or in the home civil service or diplomatic service or overseas civil service) in which his salary was highest;

"inducement element" means the inducement element taken into account in

assessing the pensionable emoluments of a Governor, as determined by the

Secretary of State;

"Minister" means the Minister of Overseas Development or any other Minister

of the Crown to whom his functions under the Overseas Pensions Act 1973 may

be transferred;

"oversea territory" means a territory which is, or is part of, a colony,

protectorate, protected state or UK trust territory;

"pension" includes any superannuation or other retiring allowance, including

any navy, army or air-force retired pay, and also any capital sum paid on or in respect of retirement or by way of commutation of a pension payable periodically;

"pensionable emoluments", in relation to service as a Governor, includes

equivalent United Kingdom salary and inducement element but does not include

any other emoluments or allowances whatever;

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