14/11/91
16:51
OVERSEAS DEV ADM
NO.025
002
pls copy
In Burns for para | M Ricketts AM/11
2
Reference
and s. a. if you
•alreddy...
haven
"h༠༠/-.
15/1
From: D S FISH
Miss Williams
(Ext 3444)
nur stone ofr
177
Date: 14 November 1991
т
Mr Nigel Cox
14/*=
cc Mr J V Kerby
ilk i 233/1
RELET
corporates in draft)
Hong Kong Department/FCO
HONG KONG: HMOCS
1.
OV 1991
We spoke about the proposed draft telegram to Hong Kong and you agreed to pass on to Mr Burns my earlier suggestion about tactics.
in
மிய
2. If a telegram issues along the lines of the draft, I suggest the following changes. In paragraph 3, I think the reference to Hong Kong footing the bill should be omitted. The Treasury did not actually say this and it would cause undue alarm in Hong Kong. The Treasury did try to cast doubt on the agreement which we believe exists; but both John Kerby and I felt that this was not an issue on which they intended to make a real stand.
3. In paragraph 4, we should spell out rather more clearly what the Treasury have in mind on capitalisation viz from line 8:
HKG
"They felt that HMG had not given sufficient consideration to their proposal of October 1990 for Hong Kong Government to capitalise all existing and future HMOCS pension commitments. This could be done on individual basis, or more realistically, by paying over the whole capital sum to HMG who would then assume responsibility for paying pensions at a safeguarded rate. The capitalised sum would be suitably discounted for early payment and payment could perhaps be phased making the proposal potentially attractive to HK Government. They would be happy to .
4. Finally, I would be inclined to omit the whole of the second sentence of paragraph 6. The Treasury position was almost exactly the same as in previous meetings. If you feel the need to repeat the point about the existence of real obligations, perhaps you could leave out the reference to the 1985 and 1988 agreements be consistent with my comment about paragraph 3.
бориш
D S FISH
Overseas Pensions Department
14 November 1991
C
to