Malaysia legislation
Section 5
Section 5
Pensions Adjustment (Amendment)
(a)
by substituting for subsection (1) the following subsection:
“(1) Any derivative pension or derivative retiring allowance received under any other written law shall be adjusted in accordance with subsection 3(1).”;
(b)
by inserting after subsection (1) the following subsections:
“(1a) The amount of derivative pension or derivative retiring allowance to be used as the basis for the first of the adjustments under subsection 3(1)—
(a)
in the case of a recipient who received the derivative pension or derivative retiring allowance before or on 1 January 2012, shall be the amount of derivative pension or derivative retiring allowance which had been adjusted on that date;
(b)
in the case of a recipient who received the derivative pension or derivative retiring allowance on or after 2 January 2012, shall be the amount of derivative pension or derivative retiring allowance which had been granted to the recipient.
(1b)
The adjustment referred to in subsection (1) is subject to any higher percentage of increment which may be made under subsection 3(2).”; and
(c)
in subsections (2), (3) and (5), by substituting for the words “the Second Schedule” wherever they appear the words “subsection 3(1)”.
Amendment of section 5