Port of Singapore Authority (Dockyard Staff) (Pensions) Order

Port of Singapore Authority Act

(Chapter 236, Section 31¹)

¹  Section 31 of the Port of Singapore Authority Act (Chapter 173) was omitted from the 1985 Revised Edition of Acts.

Port of Singapore Authority (Dockyard Staff) (Pensions) Order

O 3

REVISED EDITION 1990

(25th March 1992)

[1st June 1972]

Citation

1.  This Order may be cited as the Port of Singapore Authority (Dockyard Staff) (Pensions) Order.

Definitions

2.  In this Order, unless the context otherwise requires —

“Company” means the Keppel Shipyard (Private) (Limited);

“Regulations” mean the Port (Singapore Harbour Board) (Pension Scheme) Regulations 1949².

[S 386/49]

²  Ceased to apply to all employees w.e.f. 1st June 1972vide regulation 31 of R 2.

Regulations to continue to apply

3.—(1)  Every employee of the Company transferred to its service under section 31 of the Act who, immediately prior to such transfer was a member of the pension scheme established by the Regulations, shall continue to be such member with effect from the date of such transfer.

(2)  The Regulations shall, with effect from the date of the transfer of an employee of the Company to its service under section 31 of the Act, continue to apply to such employee in the like manner as those Regulations applied to him immediately before his transfer to the service of the Company.

(3)  Every reference to service or employment with the Singapore Harbour Board in the Regulations shall be construed as a reference to service or employment with the Authority and the Company in respect of such employee.

(4)  Every such employee of the Company may count their previous service with the Singapore Harbour Board and the Authority for the purpose of determining the benefits to which they become entitled under this paragraph.

Employees may opt methods of computation

4.—(1)  Every employee referred to in paragraph 3 may at his option agree to have the pension, annuity or other allowance which may be payable to him or to his widow, child or children or legal personal representatives under the Regulations to be computed in respect of a period of pensionable service with the Singapore Harbour Board, the Authority and the Company which, for the purposes of this paragraph, shall be deemed to be from the date of commencement of such service up to and including 30th June 1972 where the employee exercised the option in June 1972 and up to and including 31st December 1972 where the employee exercised the option after June 1972.

(2)  Except as provided and in the circumstances mentioned in regulations 2 to 10, 12 to 15 and 17 to 29 of the Regulations, no pension, annuity, gratuity or other allowance shall be paid to the employee who has opted under sub-paragraph (1) or to his widow, child or children or legal personal representatives.

(3)  Any pension, annuity, gratuity or other allowance which may be payable to the employee who has opted under sub-paragraph (1) or to his widow, child or children or legal personal representatives under this paragraph shall be computed on the amount of pensionable emoluments received by the employee on 30th June 1972 where the employee exercised the option in June 1972 or on 31st December 1972 where the employee exercised the option after June 1972.

(4)  Where the employee who has opted under sub-paragraph (1) retires from the service of the Authority in any one of the circumstances mentioned in regulation 9 of the Regulations and has less than 10 years’ pensionable service with the Singapore Harbour Board, the Authority and the Company, the Authority may grant a pension, gratuity or other allowance to which the employee or his widow, child or children or legal personal representatives would be eligible under the provisions of the Regulations in one consolidated sum which shall be computed in accordance with the following formula:

(5)  Where the employee who has opted under sub-paragraph (1) retires from the service of the Authority in any one of the circumstances mentioned in regulation 9 of the Regulations and has not less than ten years’pensionable service with the Singapore Harbour Board, the Authority and the Company, the Authority may grant a pension, gratuity or other allowance to which the employee or his widow, child or children or legal personal representatives would be eligible under the Regulations in one consolidated sum which shall be computed in accordance with the following formulae:

whichever is more favourable to the employee.

(6)  In sub-paragraphs (4) and (5) —

C represents the consolidated sum payable under this paragraph;

S represents the last drawn monthly salary prior to 30th June 1972 where the employee exercised the option in June 1972 or 31st December 1972 where the employee exercised the option after June 1972;

M represents the completed months of pensionable service with the Singapore Harbour Board, the Authority and the Company up to and including 30th June 1972 where the employee exercised the option in June 1972 or 31st December 1972 where the employee exercised the option after June 1972; and

n represents the completed months of pensionable service with the Company from 30th June 1972 where the employee exercised the option in June 1972 or 31st December 1972 where the employee exercised the option after June 1972, until the employee reaches the age of 55 years.

(7)  Any consolidated sum mentioned in sub-paragraph (5) which is paid to the employee shall be credited with such rates of interest as the Authority may determine from time to time.

(8)  The interest on the consolidated sum shall be credited with effect from 1st July 1972 where the employee exercised the option in June 1972 or 1st January 1973 where the employee exercised the option after June 1972, until he retires from the service of the Authority in any one of the circumstances mentioned in regulation 9 of the Regulations.

LEGISLATIVE HISTORY

Port of Singapore Authority (Dockyard Staff) (Pensions) Order

 

This Legislative History is provided for the convenience of users of the Port of Singapore Authority (Dockyard Staff) (Pensions) Order. It is not part of this Order.
1.	G. N. No. S 311/1973—Port of Singapore Authority (Dockyard Staff) (Pensions) Order 1973
	Date of commencement	:	Date not available
2.	1990 Revised Edition—Port of Singapore Authority (Dockyard Staff) (Pensions) Order
	Date of operation	:	25 March 1992