-2-
The Hon. E.B. Wiggnam, C.B.E., J.P.,
Continued....
11th September 1992-
4. Lastly, I would point out that the GBP/HKD exchange rate
13 presently at an historical nigh. If an
officer takes out a HKD loan today in order to buy GBP, and finds in five years time that the exchange rate has, moved signi- ficantly against him, he might well feel aggrieved. the GBP value of his commuted pension would be lower than it would have been if
been if he had simply done nothing, and whole exercise would only have cost him money.
Nevertheless, should you consider that che potential and financially unquantifiable risks of such a scheme are accept- able, I should be happy to try and quantify the known for you..
I am sorry once again to be so negative but there seems to be по simple and cost effective solution to the problem. Wich the value of the officers' pensions at stake however I make no apology for acting as the devil's advocatel
Yano
جامة
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