CO129-574-6 Hong Kong pensioners in India- rate of exchange 31-8-1938 - 26-10-1938 — Page 42

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

40

Colonial Secretary's Office,

Hong Kong,

10th August,1938.

CIRCULAR No.57

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 change 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.

By Command,

N.L.SMITH,

Colonial Secretary.