1.
1.1
1.2
1.3
ICT
HMOCS Pensions and Compensation/Incentive Scheme
Exploratory proposal, without commitment
HMG assumes responsibility for HKG pensions and UK- pensions increase for Berving HMOCS, HMOCS pensioners and deferred pensioners.
Transfer of ́ responsibility matched by transfer payment to HMG by HKG of capitalised current valus of liabilities for basic pensions and HK pensions increases, and for widows and dependents pensions.
In parallel, HMG provides for complementary compensation/incentive arrangements, in sterling
terns.
2.
Issues for Discussion
2.1
Timing of Transfer
Optiona
}
1992
2.2
2.3
Preference
Coverage of Transfer
Options : a)
bl
Preference
later date
December 1992
accrued benefits at- time of: transfer
include future service
Liabilities as accrued at date of transfer, based on salary at that date.
Treatment of Future Service if not covered by
Transfer
pensionable by HKG without
Options : a)
sterling protection
b)
non-pensionable but
gratuity-earning
A.