Hong Kong Regulations

GRANT SCHOOLS PROVIDENT FUND RULES - RULE 13B

DSS school contributors ceasing to be contributors

(Past version on 19/05/2000).

(1) Where a contributor employed in a DSS school opts not to contribute to the
fund under rule 7(6) after 10 years of continuous  contributory service, his
account shall be closed and the amount standing to the credit of his account
at the date approved by the Permanent Secretary for the purpose of this rule,
including all Government donations, DSS school donations and all dividends
that have been declared up to and including that date, shall be paid to him in
accordance with rule 14.

(2) Where a contributor employed in a DSS school opts not to contribute to the
fund under rule 7(6) after 5 years or more but less than 10 years of
continuous contributory service, his account shall be closed and, in
accordance with rule 14, the payment due to him as a contributor shall be an
amount equal to that contributed by him up to the date approved by the
Permanent Secretary for the purpose of this rule, and all dividends that have
been declared on that contribution plus an amount equal to the following
percentage of all Government donations, DSS school donations and all dividends
that have been declared on such donations- (3 of 2003 s. 16)

   (a)  50 per cent, if his continuous contributory service is less than 6
        years;

   (b)  60 per cent, if his continuous contributory service is not less than 6
        years but less than 7 years;

   (c)  70 per cent, if his continuous contributory service is not less than 7
        years but less than 8 years;

   (d)  80 per cent, if his continuous contributory service is not less than 8
        years but less than 9 years;

   (e)  90 per cent, if his continuous contributory service is not less than 9
        years but less than 10 years.

(3) Where a contributor employed in a DSS school opts not to contribute to the
fund under rule 7(6) after less than 5 years of
continuous contributory service, his account shall be closed and an amount
equal to that contributed by him up to the date approved by the Permanent
Secretary for the purpose of this rule, plus such dividends as have been
declared on that contribution, shall be paid to him in accordance with rule
14. (L.N. 78 of 2000; 3 of 2003 s. 16)