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Frequently Asked Questions Q: When is the monthly pension released to me ? A: Pensioners normally receive their monthly pension in arrears on the last working day of each calendar month Q: Can I use a joint name bank account to receive my monthly pension? A: Yes. Q: Can I receive my monthly pension overseas ? A: Pensioners may elect to receive their monthly pension overseas through the Crown Agents. Q: Can I opt to receive all my pension in one go as a lump sum payment ? A: The maximum pension commutation rate is 25% and 50% respectively for officers retiring under the OPS and NPS. Pensioners cannot commute 100% of their pension in one lump sum. Q: How will pensioners be paid in case they wish to receive pensions direct from their overseas bank account or in Mainland China? A: We may arrange payment to a pensioner residing overseas through
the Crown Agents Bank, our paying agent in
U.K. The Crown Agents will pay the pension direct to the pensioner's
overseas bank account in the first few days of the month following
the month in respect of which his/her pension accrues. A commission
charge will be deducted from the pension by the Agents. Currently,
Q: Can my spouse receive my pension after I die ? A: Payment of monthly pension ceases upon the pensioner's death. |
5.00
per payment is charged for payment in sterling made in U.K. and
HK$65 per payment is charged for payment in foreign currency converted
directly from HK dollars. If a pensioner is residing in China, we
may arrange to remit the monthly pension to his/her bank account/
address in China. Bank charges of about HK$180 will be deducted
from the pension. However, he/she is required to submit to this
office a pension claim form for each month in respect of which his/her
pension is claimed.