CONFIDENTIAL
exchange-rate, upgraded in line with subsequent increases in UK
RPI).
II. OPTIONS WITHOUT HMG FUNDING
OPTION A
1. No governmental arrangements for HMOCS officers.
Officers wishing to obtain some protection for their pensions buy short-term private-sector political risk insurance and/or exchange-rate hedging (at own risk).
2.
OPTION B
HMG legislate (Act of Parliament or Order in Council) to over-ride Hong Kong's pensions legislation and Legislative Council control of finances and to instruct HKG to pay over funds to HMG in respect of HMOCS compensation and the capitalised value of HMOCS officers' pension entitlements: then to make payments to the officers concerned.
options.1.
SLM
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HMG