}
aef1.1g/kw/10.8.7
CONFIDENTIAL
Options Paper on package for Hong Kong HMOCS
1. Sterling safeguard
A.
(i)
(ii)
Options involving private sector
Feasibility of a private sector scheme providing a full pensions safeguard.
Partial private sector solution:
HMOCS/HKG would need to approach the private sector
to safeguard the commutable element; HMG to
safeguard the non-commuted element;
(iii) If HMG announces scheme; individuals would still be
free to make their own arrangements at their own risk.
(iv)
Any others?
B. Options for HMG safeguard scheme
Issues for consideration:
(i) to limit the constituency eligible for the safeguard:
(ii)
eg to exclude contract workers (ie those not signed up
to join HMOCS by 30 June 1992.
different approaches to triggering a safeguard:
(a) Fixed trigger point:
eg 16:1
22:1
30:1
CONFIDENTIAL