布政司著
港下亞畢道
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**8% Our Ref ; AP 295/6-C(92) VI
BE Your Ref :
нка 233/1
GOVERNMent secrETARIAT
LOWER ALBERT ROAD
HONG KONG
579
Ms EL Williams
14 September 1992
copies to
Mr Fish ODA
Hong Kong Department
Foreign & Commonwealth Office London
Mr
Dear Emma,
the
HMOCS
-
Hughes GAD Mr RaysON HIT
Me
File.
14/9
(505
Pension Liabilities and Compensation
BY FAX
further to my letter of 26 August 1992, I enclose projected pension liabilities of HMOCS pensioners (1182) and the dependants of deceased HMOCS pensioners (447) and the capitalised value of pension liabilities as at 1997 at Annexes I and L respectively. I wish to draw your attention to the fact that Annex I refers to pension liabilities of HMOCS pensioners and their dependants in receipt of SPOS. My Treasury does not have a comprehensive list of
those eligible for SPOS, please let me know if you have such records.
The assumptions' used are the same as those used last year except that my Treasury has changed the basis of calculation of capitalised value of outstanding HMOCS pension liabilities of serving and potential MMOCS members retiring after 1997. A discount factor of 3.5% p.a, has been applied to the capitalised value of pensions for officers retiring after 30.6.1997. Hence the capitalised value for serving and potential HMOCS as at 1997 now given are smaller than those estimated last year. A list of detailed assumptions is being compiled and will be forwarded to you shortly.
Please let me know
1f you need any additional
information.
Yerus sincraly,
c.c. AP 293/61-(C) (92) IV
(Miss Christina TSANG)
for Secretary for the Civil Service
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