TNAG-2687-FCO40-3889-Hong-Kong-Her-Majesty-s-Overseas-Civil-Service-(HMOCS)-poli-1993 — Page 16

EXAMPLE 2

OFFICER RETIRES BEFORE 1 JANUARY 1992 FROM HONG KONG [MIXED SERVICE]

ACTUAL PENSION AND GRATUITY

Salary HK$ 10,000 at retirement.

400 months service.

Emoluments: For HK HK$ 500,000 / For UK HK$ 50,000

Hypothetical HK pension:

400

x HK$ 10,000 = HK$ 6666.66

600

Actual HK pension:

OR

HK$ 500,000

X HK$ 6666.66 HK$ 6,060.60

HK$ 550,000

3/4 x HK$ 6,060.60 = HK$ 4545.45

PLUS Gratuity of HK$ 1,515.15 x 14 = HK$ 21,212.10

NEW SCHEME

Equivalent salary at 1 Janaury 1992

HK$ 25,000

Hypothetical pension formula:

400

x HK$ 25,000

HK$ 16,666.66

600

Actual HK pension:

HK$ 500,000

x HK$ 16,666.66

HK$ 15,151.51

HK$ 550,000