TNAG-0266-FCO40-302-Responsibility-of-UK-for-colonial-expatriate-pensions-of-Hon-1972 — Page 78

For the above reasons the F.C.O.

believes that the CAPF should be included

in a take-over.

It is not possible to

estimate with any accuracy the likely cost. The first actuarial valuation of the Fund

in 1965 showed a deficiency of £7.6 m.

A deficiency of this magnitude is not

envisaged at the next valuation (1970) when any deficiency will probably be accounted for by the sum (£1.9 m. plus interest) left unfunded from the 1965 valuation.

CONFIDENTIAL

NOTHING TO BE WRITTEN IN THIS MARGIN