Fair pensions for teachers

Thousands of retiring teachers will be better protected under proposals approved yesterday by the Executive Council to distribute pensions more fairly.

At present, teachers who leave their jobs before end of the funds' financial year on August 31 find their contributions since the previous September do not count in assessing payments.

But under the new proposals, provident fund calculations will include these contributions.

The Governor-in-Council yesterday approved amendments to the rules governing the operation of the Grant Schools Provident Fund and the Subsidised Schools Provident Fund.

The amendments, welcomed by Au Pak-kuen of the Professional Teachers' Union, will be gazetted on Friday.