If,
increases, no SPOS is currently payable to Mr Rainbird.
through a further deterioration of the exchange rate, the sterling
value of the increases was to fall below the UK figure, then SPOS
would make good the difference.
the
Mr Rainbird is particularly concerned that the Hong Kong dollar
will collapse in
in the run-up to 1997. In the past,
link
between the Hong Kong and US dollars has proved resilient and it
is far from certain that these currencies will continue to weaken
against sterling. Nevertheless, as we approach 1997, we are very
aware of the concerns of past and present HMOCS officers about
their pensions and we shall keep the matter under review, in close
consultation with the Hong Kong Government.