File.
2 October 1992
RESTRICTED HKA 233/1
233 1
MOK DRO!
Foreign & Commonwealth
Office
BY FAX
0355 844099
Mr Fish
Overseas Pensions Department
ODA
London SW1A 2AH
Telephone: 071-
Der Dane,
542
HMOCS: OPTIONS FOR PENSIONS SAFEGUARD
1. I attach a draft reply to Kevin Woodfield's letter of 28 September and should be grateful for any comments.
2. On the early retirement option, I am beginning to have second thoughts whether we should try to head of Treasury attempts to include this option. What I have included in para 5 is the position which pertained under the previous Governor. But Hong Kong have conceded that, subject to discussions with the Chinese over the future direction of the civil service, it is possible that early retirement for expatriates might become a runner in the future. Indications are that Mr Patten's mind is moving further in that direction. The problem is we shall not know Chinese views on this for many months (and possibly years) to come. The sentence in brackets after para 5 makes this point but is, I feel, too much a hostage to fortune in that the Treasury could say we should delay consideration of all these issues until this position becomes clear.
3. I should be grateful for your views on whether we should concede detailed exploration of the early retirement option in the paper and on any other points
Yurs fincerely,
likl
•
M V Stone
Hong Kong Department
fish.let.ADM
SLM
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