Article 4 Determination of notional Hong Kong pension and actual pension income in sterling
The provisions of Parts I and II of the Schedule to this Order shall apply for calculating and determining the notional Hong Kong pension of pensioners and the sterling value of such notional pension for the purposes of this Order. If a pensioner is entitled to more than one pension under the relevant laws, a separate calculation and determination shall be made in respect of each pension.
For the purposes of this Order, the actual pension income for any month of a pensioner in respect of a Hong Kong pension is the sum of:
one twelfth of the sterling value of the basic pension; and
the sterling value of any increases on the basic pension received in respect of that month under the law of Hong Kong; and
the amount of any pension supplement payable during that month under any regulations made under section 11 of the Pensions (Increase) Act 1971f1, as from time to time in force, in respect of the basic pension,
and pro rata for any part of a month. If any payment is made otherwise than in sterling, the sterling value of the basic pension and any such increase will be determined using the middle rate of exchange of the official exchange market between the Hong Kong dollar and sterling on the fifteenth day of the month in question.
Annotations
Footnotes
- f1