TNAG-2096-FCO40-2985-HM-Overseas-Civil-Service-(HMOCS)-general-correspondence-1990 — Page 9

Our telno on

Review of

2.1

Dependant Pension Benefits refers

PROPOSED CHANGES

THE WIDOWS' AND CHILDREN'S PENSIONS SCHEME (WCPS) AND THE WIDOWS AND ORPHANS PENSION SCHEME (WOPS)

I.

Voluntary membership

(a) Voluntary membership for all serving officers and

new recruits

(i)

(ii)

single serving members to be able to opt out . of the schemes within a specified period, with refund of past contributions plus interest:

cease

married serving members to be able to elect within a specified period, to contributing to the schemes. They will have - their accrued benefits preserved (i.e. their dependants to continue to enjoy the coverage of the schemes on the basis of their past contributions);

(iii) new recruits to--be able to opt, within a specified period after their appointment (in the case of single officers, after marriage), to join the WCPS or otherwise.

(b) The voluntary WCPS to be extended to cover also Model Scale 1 Staff, female officers and junior disciplined services officers who are currently exempted.

II.

Rate of contribution

(a) Based on GAD's advice, new entrants to the voluntary WCPS to contribute at 3.5% of salary with a matching contribution of 2.33% from

from Government. Serving members who opt to remain in the scheme may continue to contribute at the existing rate of 3% salary.

(b) There should be regular actuarial reviews of the

rate of contributions.