Confidential
IN THE AMOUNT OF PENSION WHICH MAY BE COMMUTED AS A LUMP SUM, FROM 25 PER CENT TO 50 PER CENT. IN ADDITION, THE HONG KONG GOVERNMENT PROPOSES TO MAKE PENSIONS A RIGHT RATHER THAN A PRIVILEGE.
CONSULTATION WITH STAFF HAS ALSO BEGUN ON A DRAFT COMPENSATION SCHEME WHICH, AMONGST OTHER THINGS, WILL ENABLE PENSIONABLE OVERSEAS OFFICERS WHO ARE REQUIRED TO RETIRE, OR WHO ARE SUPERSEDED FOR PROMOTION TO MAKE WAY FOR LOCAL OFFICERS, TO BE COMPENSATED FOR LOSS OF CAREER.
AKERS-JONES
YYYY
HMLNAN 5997
HONG KONG AGREEMENT: RESTRICTED
LIMITED
HD/HKD
COPIES TO:
MR FIFOOT, LEGAL ADVISER
HD/FED
RESEARCH DEPT (FE)
DEP/HD/PUSD
PS/MR RENTON
MR GILLMORE
MR WILSON
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Confidential