TNAG-1520-FCO40-2081-Employment-in-Hong-Kong-1986 — Page 57

MAL

Appendix A

Life without refund single premium annuity:

Yield of annuity

Number of months final salary needed to purchase annuity

Retirement at 65

Retirement at 60

Rate of return

Rate of return

Male employee:

2.5%

4%

2.5%

4%

(i) 20% of final salary

25.7

23.0

32.4

27.4

(ii) 35% of final salary

44.9

40.3

56.7

47.9

(iii) 50% of final salary

64.1

57.5

81.0

68.4

Female employee:

(i) 20% of final salary

30.0

26.5

35.6

30.8

(ii) 35% of final salary

52.5

46.3

62.3

53.9

(iii) 50% of final salary

75.0

66.2

89.0

77.0

DOVEDENTIAL