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EGGISTRY
LIQ MAY 1976
7
D Stock Esq
Ministry of Overseas Development
Eland House
Stag Place
LONDON SW1E 5DM
Dear Stock
Stock
R&R pre 1
GOVERNORS' PENSION SCHEME
Your reference
PD 231/213/01
Our reference
S 52/01
Date
4 May 1976
(1.0) refers.
In Hawkins' absence it falls to me to reply to your letter of 23 April.
Considering the points raised in Williams' letter of 16 October we have the following comments:-
Relationship with PCSPS
With the exception of my comments in my letter of 26 February to Moorhouse about rule 3.9 we are content that the draft scheme should stand as it relates to the PCSPS. I would point out however that rules 3.5 3.7 and 3.20 contain powers of sub-delegation and must there- fore be amended. It may be possible to avoid having to re-make the scheme each time the ceilings of aggregate benefits are revised by substituting for the specific figure a general expression such as a reference to half the annual salary of the Head of the Diplomatic Service.
Compensation and Injury Benefit
After consultation with the Treasury we agree that compensation provisions may be incorporated into the scheme. However with regard to injury benefit we feel that the prime responsibility for meeting this contin- gency rests with the appropriate Overseas Government. If such provisions were included into the scheme the Overseas Government might regard them as exonerating their liability.
Qualifying period
Although a 5 year qualifying period with an accrual rate that is in excess of 60ths is at variance with the Inland Revenue's new code it is in line with public sector practice and HMG policy. The Revenue have agreed that the qualifying period may be reduced from 10 to 5 years.
Calculation of pension
In line with general movement in public sector schemes we can agree that the unit of reckonable service may be days rather than months.
1
No comments yet.
Private notes are available after approval.