HONG KONG STERLING PENSION SAFEGUARD SCHEME
OFFICERS PENSIONS: DETERMINATION OF HONG HONG "NOTIONAL PENSION
OR GRATUITY"
A. Officers who retire on pension (unreduced or reduced) from HK before 1 January 1992
Single HK service
[Using April 1991 HK salary levels (based on the officer's grade and salary point at retirement) and the pension formula used in the original pension calculation up-rate officers HK pension to 1 January 1992. Check whether officer opted for an unreduced or reduced HK pension. Apply same option to 1992 pension. Divide pension by [16/26] etc. This produces the "notional HK pension" which would be increased annually using UK PI inflators as though it was a an official pension, as defined in the PIA71, beginning on 8 April 1991.] See example 1.
Multiple service, eg Home -> HK
[Using April 1991 HK salary levels (based on the
officer's grade and salary point at retirement) and the pension formula used in the original mixed service pension up-rate officers HK pension to 1 January 1992. Check whether officer opted for an unreduced or reduced HK pension. Apply same option to 1992 pension. Divide the pension by [16/26] etc. This produces the "notional HK pension" which would be increased annually using UK PI inflators as though it was a an official pension, as defined in the PIA71 beginning on 8 April 1991.] See example 2.
B. Officers who retire on pension (unreduced or reduced) from HK or SAR on or after 1 January 1992.
Single HK service
[Ascertain officer's grade and salary point at date of
retirement. Determine equivalent salary point as at 1 January 1992 (based on April 1991 salary levels). calculate officer's "notional HK pension" using the the 1992 salary and pension formula used to determine his actual HK pension. Check whether the officer opted for an unreduced pension or a reduced pension. Apply the same option to the 1992 pension. Divide the pension by [16/26] etc. This produces the "notional HK pension" as at 1992 levels which would be increased annually using UK PI inflators as though it was an an official pension,
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