CO129-574-6 Hong Kong pensioners in India- rate of exchange 31-8-1938 - 26-10-1938 — Page 30

C.S.0.No.3141/30c.

CIRCULAR No.57.

29

Colonial Secretary's Office,

Hong Kong,

10th August, 1938.

Heads of Departments are requested to bring to the

notice of all Indian Officers on the permanent establishment

that Government has under consideration the revision of the

present practice of paying pensions in India at the conventional

rate of exchange of $100 = 112 Rupees and the reversion to the

system in operation before 1930 of payment at the current rate

of exchange, i.e. the average daily rate of the quarter preceding

payment. It is intended to seek the approval of the Secretary of

State for the application of the current rate of exchange to all

pensions granted on or after the 1st September, 1938, subject to

a proviso that if an officer has before the date of this circular

received permission to retire after that date for reasons other

than grounds of health or the attainment of the age limit, his

pension will be paid at whatever rate is thereafter applied to

pensions granted before the 1st September, 1938.

2. The possibility of the revision of the conventional rate

of exchange applied to pensions payable in India which were

granted before the 1st September, 1938, is also receiving

consideration.

To Heads of Departments.

- 5-

By Command,

N.L. Smith,

Colonial Secretary.

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