PAUL FIFOOT
0372723755
pensionable emoluments as calculated in accordance with this Scheme, the pensionable emoluments
calculated in accordance with the relevant law shall be taken as the basic pensionable emoluments;
ii) assume (whether or not that is in fact the case) that the pensioner has exercised his option under the relevant law to be paid a commuted pension gratuity at the maximum rate and a correspondingly reduced pension;
iii) calculate the reduced pension on the basic pensionable emoluments. The amount so obtained constitutes the notional Hong Kong pension ("NHKP");
iv) convert the amount of NHKP into sterling at the average rate of exchange for 1991 (HK$ 13.76 = £ 1). The amount so obtained as increased by the increase in the UK retail price index during the period from the 1st January 1992 to the pensioner's date of retirement is the United Kingdom pension base (UKPB") of the pensioner for the purposes of this Scheme.
(8) In the case of a member of HMOCS who retires before the publication of the Scheme
[i) The amount of the pension granted under the law of Hong Kong is the notional Hong Kong pension;
ii) convert the amount of the notional Hong Kong pension into sterling at [the rate of exchange in force at the date on which the pension was granted][the average rate of exchange for 1991 (HK$ 13.76 = £ 1). The amount so obtained is the pensioner's UKPB.]
ALTERNATIVELY
[i) Identify the amount of the pension granted under the law of Hong Kong.
ii) assume (whether or not that in fact was the case) that the pensioner had exercised his option under the relevant law to be paid a commuted pension gratuity at the maximum rate and a correspondingly reduced pension;
iii) calculate the amount of the reduced pension; iv) convert the amount of the reduced pension so obtained into sterling at [the rate of exchange in force on the date on which the Hong Kong pension was granted] [the average rate of exchange for 1991 (HK$ 13.76 = £1)]. The amount so
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