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5. I suggested that it might be useful for us to get together with Mr Hum and Mr Kerby to discuss whether our next approach to the Treasury should move more towards what we know will be the Treasury position. We agreed that as a first step you would discuss my thoughts with Peter Ricketts.

6.

If, on reflection, you are satisfied that it makes no sense to move from our original proposal at this stage, we can at least assure Ministers that we have given serious consideration to the logical option which follows from the Government Actuary's

investigations.

бру

D S FISH

Overseas Pensions Department 20 October 1992

RESTRICTED

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