CONFIDENTIAL
HONG KONG: HM OVERSEAS CIVIL SERVICE: OPTIONS PAPER ON STERLING SAFEGUARDS AND COMPENSATION
The assumptions underlying the various pension safeguard options and costs in this paper are set out at Annex A.
I.
OPTIONS FOR HMG FUNDED ARRANGEMENTS
STERLING SAFEGUARDS FOR PENSIONS
i) OPTION A.
ii) OPTION B.
iii) OPTION C.
FIXED TRIGGER
UK COMPARATOR
AVERAGE EXCHANGE RATE OVER EXTENDED PERIOD
iv) OPTION D.
EXCHANGE RATE AT DATE OF RETIREMENT
v)
OPTION E.
HMG PROFITS FROM HMOCS WHEN HK$ IS STRONG
vi)
SUB-
COMPONENT.
HMG TO UNDERWRITE NON-COMMUTABLE ELEMENT
vii) SUB-
COMPONENT. PRIVATE SECTOR SCHEME
COMPENSATION
vii) OPTION A. ORIGINAL PROPOSAL
ix)
OPTION B. HMOCS PROPOSAL
x)
OPTION C.
NEW OPTION
xi)
OPTION D.
NEW OPTION
II.
OPTIONS WITHOUT HMG FUNDING
xii) OPTION A.
NO ASSISTANCE
xiii) OPTION B.
III
HKG INSTRUCTED TO PAY FUNDS TO HMG
xiv) SUPPLEMENTARY PENSION FOR OVERSEAS SERVICE
options.1.
SLM
CONFIDENTIAL
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