TNAG-2060-FCO40-2938-Hong-Kong-Overseas-Service-Pensioners--Association-(OSPA)-1990 — Page 78

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ling' (i.e. sterling value of base pension at date of retire- ment plus cumulative value of SPOS) of A and B would be as follows:

A

ના બ

£

B

miw.

SPOS

al 4

A

£

MICH

B

Difference

£

£

(1990 (basic)

4,000 3,000

1991

4,200 3,150

200

150

50

1992

4,410 3,307

410

307

103

1993

4,630 3,473

630

473

157

1994

4,862 3,647

862

647

215

1995

5,105 3,829

1,105

829

276

1996

5,360 4,020

1,360

1,020

340

1997

5,628 4,221

1,628

1,221

407

and so on.

Even a fall of only HK$ 1 to the pound (from $12 to $13) between 30 April, 1990 and 30 June, 1990 would produce. a difference of £126 as the SPOS payment in 1997.

From these figures it is abundantly clear that some fairer way of translating basic pensions from local currency into sterling must be found as a matter of urgency. The present 'lottery' method is proving (and is likely to continue to prove) most unsatisfactory.

April, 1986.