34-8
047213
MDLIAN 8955
CONFIDENTIAL
FM HONG KONG
TO PRIORITY FCO
TELNO 1453
OF 290518Z MAY 92
CONFIDENTIAL
HKA 233/1
INFO ROUTINE PEKING, UKREP JLG HONG KONG
344
p.a.pls
Be
2915
TOP COPY Q DIST?
YOUR TELNO 843: HMOCS: PENSION SCHEME DEADLINE.
1. WE HAVE REMINDED ALL ELIGIBLE OFFICERS OF THE 30 JUNE 1992 APPLICATION DEADLINE FOR TRANSFER TO PERMANENT AND PENSIONABLE TERMS AND ENROLMENT IN HMOCS. TO DATE WE HAVE HAD NO REACTION. THE REASON WE FEEL VULNERABLE TO POSSIBLE LEGAL CHALLENGE, PARAGRAPH 2 OF TUR, IS THAT WE DOUBT THAT WE CAN REQUIRE AN AGREEMENT OFFICER TO OPT FOR THE NEW PENSION SCHEME UNTIL AFTER HIS TRANSFER TO PERMANENT AND PENSIONABLE TERMS HAS BEEN APPROVED. ALTHOUGH APPLICATIONS FOR TRANSFER TO PERMANENT TERMS HAVE TO BE MADE BY 30 JUNE 1992, APPROVALS WILL TAKE A LITTLE WHILE LONGER. WE THUS HAVE TO ALLOW SOME TIME AFTER THE PENSIONABLE TERMS DEADLINE FOR THE CHOICE OF PENSION SCHEME. THIS IS PRESENTLY SET AT SIX MONTHS.
2. WE WOULD APPRECIATE YOUR ADVICE ON THE BUYING BACK OF PENSIONABLE SERVICE AS DISCUSSED COX (HKD) WATERS (SCB). SOME HMOCS OFFICERS, WHOSE TRANSFERS FROM AGREEMENT TO PENSIONABLE TERMS WERE APPROVED BEFORE 26 JULY 1991, HAVE AN OPEN ENDED OPTION TO DECIDE AT ANYTIME PRIOR TO RETIREMENT TO BUY BACK PAST AGREEMENT SERVICE. THOSE APPROVED THEREAFTER HAVE A 12-MONTH OPTION PERIOD AS FROM THEIR DATE OF TRANSFER TO PERMANENT TERMS. THE FIRST CATEGORY COULD OPT TO BUY BACK PAST SERVICE AT ANY TIME UP TO 1997 AND BEYOND. HOWEVER IN VIEW OF ARRANGEMENTS NOW BEING DRAWN UP FOR HMOCS AND THE NEED TO QUANTIFY TOTAL HMOCS SERVICE FOR COMPENSATION AND PENSION SAFEGUARDS, DO YOU WISH US TO ADVISE THESE OFFICERS THAT THEY SHOULD MAKE A FINAL DECISION ON BUYING BACK AGREEMENT SERVICE BY SAY 31 DECEMBER 1992?
WILSON
YYYY
PAGE 1 CONFIDENTIAL
Page 180Page 181