Section 6
Service pension and service gratuity
of Pensions Re-Computation Act 1980
A pensionable officer who retires under the Ordinance may on his retirement be granted—
(a)
a monthly pension based on one-six hundredth of the amount arrived at by multiplying his total completed months of reckonable service by his last drawn salary, subject to the maximum of half of his last drawn salary; and
(b)
a gratuity based on one-twentieth of the amount arrived at by multiplying his total completed months of reckonable service by his last drawn salary.
(2)
Where a pensionable officer retires under the
Ordinance—
(a)
on the abolition of his office; or
(b)
for the purpose of facilitating improvement in the organization of the department to which he belongs by which greater efficiency or economy may be effected, in addition to a gratuity granted under paragraph (1)(b) above, his pension may, if it would be to the advantage of the officer, be based on one-five hundredth of the amount arrived at by multiplying his total completed months of reckonable service by his last drawn salary, subject to the maximum of half of his last drawn salary.
Derivative pension and derivative gratuity