TNAG-1670-FCO40-23182-Future-of-Hong-Kong-continuity-of-administration-civil-serv-1987 — Page 37

Annex D

Option for officers currently on 90% pensionability

to transfer to 100% pensionability

The option

An officer who had previously elected vide Establishment Circular No. 2/67 dated 5 January 1967 for 90% of his substantive salary and special allowance and 50% of his expatriation pay to be taken in computing his pension or allowance under the Pensions Ordinance and for the retention of higher vacation leave earning rate may, at the same time as he opts to join the New Pension Scheme within the required option period, make a further option for 100% of his substantive salary, special allowance and expatriation pay to be taken as pensionable emoluments under the Pension Benefits Ordinance 1987 and Pension Benefits Regulations 1987 in respect of service as from a material date, with a corresponding reduction of vacation leave earning rate.

Effective date of transfer to 100% pensionability

2.

An officer who is allowed to join the New Pension Scheme and transfer to 100% pensionability will be placed on 100% pensionability with effect from the material date. The material date is determined having regard to the officer's vacation leave balance accrued at 1 April 1987 because the vacation leave earned while on 90% pensionability only attracts 90% pensionability. An officer will be deemed to have commenced taking his accrued vacation leave as from 1 April 1987, and the material date will be the date on which his accrued vacation leave expires notionally after 1 April 1987. (For the purpose of determining the material date only, the officer's leave balance will be rounded down.)

3.

Upon tranfer to 100% pensionability, the officer's pension will be calculated in the following

manner

(a)

90% of highest pensionable emoluments to be taken in the

computation of pension benefits in respect of service prior to the material date; and

/(b)

...