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H637 16
MINISTRY OF OVERSEAS DEVELOPMENT
ELAND HOUSE, STAG PLACE
LONDON S.W.1
TELEPHONE: VICTORIA 2377
2nd August 1967.
そ
by
dear Arthur,
If you are giving some thought to certain possible eventualities in Hong Kong, I suggest that you might take into consideration the question of responsibility for pensions and other terminal payments to British staff. have made a few discreet computations, which might be of interest to you in this connection.
We
From our records of existing pensions in payment to British staff, we can put the present annual bill at about £800,000. If all serving British officers with entitlement to pension were suddenly to become eligible, the Hong Kong Government would be exposed to an addition to their recurrent pensions bill of something in the region of a further £800,000 on the assumption that every one accepted a reduced pension and drew a commuted pension gratuity. On the basis of the normal factors the bill for these gratuities would be Somewhere between three and three and three-quarter million pounds.
In the circumstances I am envisaging, there would however also be a claim for compensation for loss of career, which in my judgment it would be impossible to resist. This would have two effects. First it would introduce an enhanced factor for the calculation of commuted pensions and bring the commutation bill up to something between £3.6 m. to £4.5 m. Compensation itself, under what must be a pretty rough calculation, would total about £12 m.
It has occurred to me that it might be prudent in contingency planning to seek to conserve assets for the Hong Kong Government to meet these obligations. In addition, I should hope that arrangements would be made, if they have not already been made, for the microfilming and storage of the personnel records which would be required to compute these entitlements accurately.
Jones
ever,
Will
(W. A. C. Mathieson)
Sir Arthur Galsworthy, K.C.M.G.,
Commonwealth Office,
S.W.1.
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