CO129-483 - Others & Individuals - 1923 — Page 547

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I refer in more detail to this in the second part of my paragraph 6 infra.

Paragraph 3 (b) The decision is for the Government @lon..

Paragraph 3 (c) The meaning of the statement" the latter revision will constitute the full increas✶ which pensioners will be entitled to receive " is stated in my paragraph 5 infra.

It would appear that the latter portion of this para- graph should read "either reduced to" (not by the amount of the permanent increase, or ...

Paragraph 4 With regard to the statement (in paragraph 3 (c) of Lord Milner's despatch No. 10 dated 11th. January 1921) "that the latter revision will consti- tute the full increase which pensioners will be per-

the term "latter" manently entitled to receive ", obviously refers to the recomputation of pensions (current and prospective) at 8%.

Paragraph 5 The interpretation here assumed is correct viz., that pensions of all descriptions will be modi- fied on the basis of the additional 2% of interest, and that the prospective pensions will alone be fur- ther modified inaccordance with any definite change in the rate of mortality.

With reference to the second portion of this paragraph I might observe ( with the object of affording the Authorities adequate grounds for their decision) that unless, on an investigation into the experienced mor- tality, there be discovered to exist (and this I hardly anticipated) & pronounced divergence between the rate among the males in comparison with that prevailing among females, the resultingeffect would indicate an advance in all the prospective pensions.

Faragraph 6 A conclusive answer is contained in the Secretary of State's despatch No. 209 to the Staits

The views there Settlements dated 9th. May 1923. expressed are incontrovertible, with the qualification I venture to suggest see section 1113 infra ) that the results of periodical analyses, whether favourable or not, should be absolutely accepted.

The Malayan Governments are asked "whether their staffs are adequate for the very considerable labour involved in the recomputation of the pensions" upon the basis of the new Tables. I beg leave to submit that, unless it were financially sound to start the recalculation at 8% from the original date of entry, and on the original status of each member (and upon this most important question I beg your attention to my adverse remarks on this mode in my section IV infra) I am definitely of opinion that the work would be hopelessly impossible unless entrusted to skilled and experienced officials.

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The complex position may be partially pictured: epoch of the change from 6% to 8% the officials would be required to ascertain (a) the proportion of the registered prospective pension which had already been secured by past contributions (while the 6% was in operation: (b) the cash value of this proportion on the assumption that the interest continued to be 6%