CONFIDENTIAL
One question which the Treasury will put to us when we present them with revised figures and calculations is whether the figure of 271 for retirement in or before 1997 is likely to be accurate. I imagine that it is very difficult to produce a more accurate figure given that the deadline for opting for the new pension scheme has been extended. However, I think the Treasury will ask whether the possibility of benefiting from the HMOCS Compensation Scheme may lead some officers to switch to the new pension scheme so that they would still be in service in June 1997, even though this would reduce their pension earning factor. Do you think it would be reasonable for us to base our calculations on the assumption that half the officers retire at 55 and the rest at 60?
Perhaps when you have had time to consider we could have a further word over the telephone.
You's ear!
Nigel
NC G Whitney
Hong Kong Department
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CONFIDENTIAL
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