2
ling' (i.e. sterling value of base pension at date of retire- ment plus cumulative value of SPOS) of A and B would be as follows:
A
ના બ
£
B
miw.
SPOS
al 4
A
£
MICH
B
Difference
£
£
(1990 (basic)
4,000 3,000
1991
4,200 3,150
200
150
50
1992
4,410 3,307
410
307
103
1993
4,630 3,473
630
473
157
1994
4,862 3,647
862
647
215
1995
5,105 3,829
1,105
829
276
1996
5,360 4,020
1,360
1,020
340
1997
5,628 4,221
1,628
1,221
407
and so on.
Even a fall of only HK$ 1 to the pound (from $12 to $13) between 30 April, 1990 and 30 June, 1990 would produce. a difference of £126 as the SPOS payment in 1997.
From these figures it is abundantly clear that some fairer way of translating basic pensions from local currency into sterling must be found as a matter of urgency. The present 'lottery' method is proving (and is likely to continue to prove) most unsatisfactory.
April, 1986.