TNAG-2100-FCO40-2989-HM-Overseas-Civil-Service-(HMOCS)-policy-matters-1990 — Page 30

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HKB 431

RECEIVER IN GE

CC SEP 1990

Mr Burns

PS/Lord Caithness

PS

CONFIDENTIAL.

FROM:

A R Paul

Hong Kong Department

23 August 1990

DATE:

16

CC:

Mr McLaren

Mr Fifoot, Legal

Advisers

Mr Kirby, ODA

Mr Fish, ODA

Mr Rew, Treasury

NOT

Sent

out

HONG KONG: STERLING SAFEGUARDS AND PAYMENT GUARANTEES FOR

PENSIONS OF MEMBERS OF HER MAJESTY'S OVERSEAS CIVIL SERVICES

(HMOCS)

Problem

1. It is likely that HMG will soon be questioned on our policy regarding sterling safeguards for pensions of HMOCS

members. HMG is also likely to be asked to reaffirm the so called Carr-Robertson agreement. How should be respond?

Recommendation

2.

I recommend that

(a) Ministers should acknowledge that HMG has a

responsibility to protect the sterling value of HMOCS

pensions post 1997, and be prepared to promulgate the formulation, in paragraph below, for doing so;

(b) Ministers should reaffirm that, if asked, we would confirm that the Carr-Robertson agreement would be

ROZAUD/1

CONFIDENTIAL.

51

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