Comparative pension benefits under
the new pension scheme and the old pension scheme
New Pension Scheme
under the Pension Benefits Ordinance and
Regulations 1987
Old pension scheme under the Pensions Ordinance and Regulations, Cap. 89
For Category A officer (i.e. officer confirmed to pensionable establishment) retiring from service after completion of 10 years' service or more
Unreduced
annual
pension
J
Annex E
Highest annual pensionable emoluments x
pensionable service in months x
Unreduced
1
annual
Highest annual pensionable emoluments x
pensionable service in months x
1
675
600
pension
(subject to a maximum of 2/3 of highest
pensionable emoluments)
If he opts to commute 50% of annual pension into a lump sum, he will receive
Commuted = Unreduced annual pension x 50% x 14 pension
(subject to a maximum of 2/3 of highest
pensionable emoluments)
If he opts to commute 25% of annual pension into a lump sum, he will receive
= Unreduced annual pension x 25% x 14
gratuity
plus
Reduced annual pension
Commuted pension gratuity
plus
- Unreduced annual pension x 50%
Reduced annual pension
= Unreduced annual pension x 75%
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