ww.mcgnacie Mr Clift
LAST PAPER
Reference........
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Miss Baf 1) The miniation
GOVERNOR, HONG KONG
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1. I attach a draft letter to Sir Edward Youde setting out the terms of his appointment. I also attach a minute to Mr Goulden, PSD (copy to Mr West, Pensions Dept. ODA) about superannuation.
2.
There are two methods of calculation of pension. They are:
1. a) Calculation of DS pension up to date, prior to appointment as Governor. Penison payable on eventual retirement with index linking;
and
b)
calculate Governor's pension on final emoluments under the GPS.
or
2.
by election, if more beneficial, of a pension under the GPS as though all his service under the GPS is reckon- able under the PCSPS.
These calculations usually throw up an advantage under the first method, but widow's pension comes into the problem. There is no widow's contribution under the GPS method, though part of pension can be allocated, whereas under the PCSPS, widows' contributions can be deducted for the period of Governorship from the final lump sum. Addditionally, the lump sum and gratuity under PCSPS and GPS can differ.
3. It is best therefore for the pension experts to set out carefully for Sir Edward the alternatives open to him.
HKA 431/393/16
19 J
CODE 18.77
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23 December 1981
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