TNAG-1362-FCO40-1808-Hong-Kong-Hansard-reports-and-minutes-of-the-meetings-of-the-1985 — Page 199

7

12.

I should

Children's Pensions

explain that the Widows' and

Scheme is a contributory scheme.

Under the terms of the scheme, each contributor is issued

with a statement every year of the amount of pension

benefits So far accrued from both his actual and the

Government's notional contributions in the event of death.

13.

The

Unlike the Widows' and Children's Pensions

Scheme, however, the civil service pensions scheme is

non-contributory. A service pension is only payable when

the officer retires under approved circumstances.

amount of pension payable is dependent on the officer's

final salary and the length of his pensionable service on

retirement. It is not calculated on the basis of accrued

benefits and, therefore, no statement Of accumulated

pension rights can

rights can be issued. Officers themselves are,

of course, quite capable of making a projection of what

their pension will be on the basis of existing levels of

remuneration if they retire at a certain time in the

future. The mathematics for doing this are set out in

Annex XII to Civil Service Regulations for the benefit of

those with an algebraic turn of mind. But no projection

accurately predict the amount of pension eventually

can

payable.