SECRETARY OF STATE'S MEETING WITH THE CHIEF SECRETARY: 13
NOVEMBER 1992
HONG KONG: HM OVERSEAS CIVIL SERVICE
Points to Make
As agreed at our meeting on 2 July, officials have prepared a detailed paper on pension safeguard and compensation options. Set out in my letter of 10 November what I believe would constitute an acceptable package.
Have examined all pension safeguard options. Only Option A meets the criteria of being simple to administer, consistent with previous practice, and providing a guarantee to officers now. Have proposed a safeguard rate of 16:1-in my view this would be fair to HMOCS and UK taxpayers.
Much work done by our officials in examining the private sector option. The latest advice from Hong Kong Bank is that they do not believe it possible to provide an effective scheme without the benefit of an external guarantee. I am satisfied that this option has been adequately explored.
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We must go back to the HMOCS Association with an improved compensation offer. Option C is in line with previous practice; it will also target those who we most need to retain senior and middle ranking Police officers.
We must now take political decisions to agree a package
Both the Governor and I consider it a matter of honour that
HMG provide HMOCS officers with a package consistent with that
provided in the past for HMOCS. This issue cannot be allowed
to drag on any longer.
If, we are unable to reach agreement, we should invite
OPD (K) to decide.
ptstomk.sosmtg.ADM
JEB
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