Special Rights Premium for long-term service
     
 

Premium for long-term service

  
  In the Provident Fund Scheme, premium for long-term service is provided for the following disciplined services officers: members of the Security Force, criminal investigators, assistant criminal investigators, prison guards or customs officers.

Members who fulfil all of the following conditions at the date of cancellation of enrollment are eligible to the premium for long-term service:
 
1) Having completed the age of 50;
2) Counting no less than 25 years of contribution time as a disciplined services officer;
3) Not being dismissed or terminated employment as a result of disciplinary process or criminal offense.
 
     
  Determination of the premium for long-term service  
  After having received the data related to the cancellation of enrollment under the Provident Fund Scheme from the public service department the member belongs to, the Pension Fund shall compose a file and submit it to the supervisory entity within 10 working days, and that entity shall determine the premium for the long-term service that the member is entitled to in form of dispatch and thereafter publish the respective dispatch in the MSAR Gazette.  
     
  Calculation method  
  Premium for long-term service (P) = A x 2%
A = Total salary or wages and contribution time premiums received by the member from 1st January 2007 as a disciplined services officer.
 
     
  Payment
  The premium for long-term service will be paid by the Pension Fund, in a lump sum, after the publication of the respective dispatch in the MSAR Gazette.  
     
  Relevant laws & regulations  
  Article 21 of the Law no. 8/2006 《The Provident Fund Scheme for Workers in the Public Services》.  
     
  Department in charge  
  Division of Contributors Support for the Provident Fund Scheme  
     
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