CO129-601-2 Salaries Commission- currency basis of emolument 27-1-1949 - 23-7-1949 — Page 24

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salary if he opted for the new terms of service, which would make allowance for the new value of the dollar.

6.

The present option scheme is only really of interest to an officer who retires after the 1st January, 1947 and before any hypothetical upheaval takes place. Those who retired earlier are drawing their pensions on a sterling basis, and those who retire after would be in receipt of new scales of salary which would automatically adjust their pension prospects.

7.

I hope that the above explanation will suffice to persuade you to withdraw the condition proposed in paragraph 2 of the Secretary of State's telegram No. 640 of the 5th June. If it does, I think that there is a reasonable chance that the Association will accept a straight option.

Yours sincerely,