Social Security Act (Cap. 318), article 47

47. (1) Subject to the provisions of this Act, where a person is entitled to a Service Pension - (i) with effect from the first Saturday of January, 1991, if his Service Pension and the rate of Retirement Pension applicable in his case together exceed two-thirds of his pensionable income, such person shall be entitled to a Retirement Pension; or (ii) if his Service Pension and the rate of Retirement Pension applicable in his case in terms of the foregoing provisions of this sub-article together do not exceed two-third s of his pensionable income, such a person shall be entitled to an Increased Retirement Pension or such part thereof as shall ensure that the aforementioned two-thirds of his pensionable income are not exceeded. So however that, subject to the maximum rate of pension payable as laid down in article 54(b), for the purposes of awarding a Two-Thirds pension, such rate of Increased Retirement Pension as may be applicable in his case, utilizing the same yearly average of contributions taken in the award of such pension, may be further increased by one-third of the difference obtaining by deducting the sum total of his service pension and the applicable 62 CAP. 318.] SOCIAL SECURITY rate of Increased Retirement Pension payable to him from the amount that is equivalent to two- thirds of his pensionable income. (2) For the purposes of this article the "current basic weekly wage or basic salary" shall be taken to be that current on the first Saturday of the year in respect o f which any payment under this article falls due. No right to particular pensions after 16th January, 1979. Amended by: XVI. 1990. 21. Re-numbered by: XXIV . 1993.2. Amended by: VII.2018.38.