12A. Transition payment

The Board may cause a transition payment to be credited annually into the Retirement Account of a member —

to whom any additional annual contribution was paid, or may be payable, before 1 January 2019; and

where cessation of the additional annual contribution payments to the member may cause disadvantage to the member.

Without limiting paragraph (1), the Board may cause a further transition payment to be credited into the Retirement Account of a member described in that paragraph if —

the member’s Retirement Account is about to close under regulation 15 because the member —

retires from the service but not because of disciplinary proceedings;

resigns from the service to join the employment of a statutory body with the approval of the Ministry of Home Affairs;

is transferred from the service to another scheme of service in the public service except the Administrative Service, unless the transfer is at the member’s request; or

dies in service; or

the member’s Retirement Account remains open but contributions to the Retirement Account cease under regulation 19(1)(a) or 19B(1)(a) (as the case may be) because the member —

transfers from the service to the Administrative Service, unless the transfer is at the member’s request; or

is transferred under any written law from the service to the employment of a statutory body.

The further transition payment mentioned in paragraph (2) for the year that a member retires or transfers from the service or dies in service may be pro-rated according to the proportion the following period (whichever is applicable) bears to the whole year:

the period of the member’s reckonable service starting 1 January of that year to the date immediately before the date of the member’s retirement (both dates inclusive);

the period of the member’s reckonable service starting 1 January of that year to the date immediately before the date of the member’s transfer (both dates inclusive);

the period of the member’s reckonable service starting 1 January of that year to the date of the member’s death (both dates inclusive).

The Board may determine different amounts of the transition payments mentioned in paragraphs (1) and (2) for different members.

The Board may cause a transition payment to be credited annually into the Retirement Account of a member —

to whom any additional annual contribution was paid, or may be payable, before 1 January 2019; and

where cessation of the additional annual contribution payments to the member may cause disadvantage to the member.

Without limiting paragraph (1), the Board may cause a further transition payment to be credited into the Retirement Account of a member described in that paragraph if —

the member’s Retirement Account is about to close under regulation 15 because the member —

retires from the service but not because of disciplinary proceedings;

resigns from the service to join the employment of a statutory body with the approval of the Ministry of Home Affairs;

is transferred from the service to another scheme of service in the public service except the Administrative Service, unless the transfer is at the member’s request; or

dies in service; or

the member’s Retirement Account remains open but contributions to the Retirement Account cease under regulation 19(1)(a) or 19B(1)(a) (as the case may be) because the member —

transfers from the service to the Administrative Service, unless the transfer is at the member’s request; or

is transferred under any written law from the service to the employment of a statutory body.

The further transition payment mentioned in paragraph (2) for the year that a member retires or transfers from the service or dies in service may be pro-rated according to the proportion the following period (whichever is applicable) bears to the whole year:

the period of the member’s reckonable service starting 1 January of that year to the date immediately before the date of the member’s retirement (both dates inclusive);

the period of the member’s reckonable service starting 1 January of that year to the date immediately before the date of the member’s transfer (both dates inclusive);

the period of the member’s reckonable service starting 1 January of that year to the date of the member’s death (both dates inclusive).

The Board may determine different amounts of the transition payments mentioned in paragraphs (1) and (2) for different members.