TNAG-2101-FCO40-2990-HM-Overseas-Civil-Service-(HMOCS)-policy-matters-1990 — Page 11

香港政府金融科

香港夏慤道十八號

海富中心第二座二十四樓

Tel. No.:

**** Our Ref.:

528 1890

* Your Ref.:

(56) in AP 295/134/1(2)-88

Mr. K.O. Shipley, CBE, JP, Deputy Secretary for the

Civil Service (Appointments), 11th Floor, West Wing,

Central Government offices, Hong Kong.

Dear Keith,

The New Pension Scheme

MONETARY AFFAIRS BRANCH HONG KONG GOVERNMENT

24TH FLOOR,

ADMIRALTY CENTRE, TOWER 2, 18 HARCOURT ROAD, HONG KONG.

12 November 1990

to

I

have waited half a year before responding your letter of 24 May in expectation of an announcement by HMG on the arrangements for HMOCS members in Hong Kong. However, it appears that my interpretation of what you meant by "reasonably soon" was unduly optimistic.

Your letter did not concede that there was any necessary connection between HMG's proposed arrangements and the decision whether to opt for the New Pension Scheme.

I believe that there is a connection and that it would be unreasonable to require an HMOCS member to decide on the pension scheme before HMG's arrangements were made known to him.

Consider the case of a pensionable overseas officer who will not have attained normal retirement age by 30 June 1997 and who does not think it right to remain in the service beyond that date. It would not be prudent for such an officer to rely on vague hints about HMG's proposed arrangements. If they had not been approved and announced by the deadline for opting between the old and new pension schemes, he would facé a choice between two evils. Either stay on the old scheme and forfeit all retirement benefits on resignation in 1997 or opt for the new scheme and suffer a reduction in the actuarial value of his earned pension.

(The right under the new scheme to continue more years to the age of sixty would this officer.) On the principle

working for five be of no value to