SECRET
124441
MDHIAN 0327
PURSUE THEM.
4. IN ORDER TO GIVE US MORE TIME TO CONSIDER THE OPTION OF THE GOVERNMENT PROVIDING A PARTIAL FUNDING OF PENSIONS, WE HAVE DECIDED TO EXTEND THE NPS OPTION DEADLINE BY 3 YEARS, UNTIL DECEMBER 1995. IN THE INTERIM PERIOD WE WILL NOW BE CONSIDERING A NUMBER OF IMPORTANT ISSUES RELATING TO THE ESTABLISHMENT OF SUCH A FUND, INCLUDING HOW IT MIGHT OPERATE AND ITS SIZE AND SCOPE.
5. WE ALSO NEED TO CONSIDER THE FINANCIAL POSITION OF THE HONG KONG GOVERNMENT AND THE FUTURE SARG. WE ENVISAGE DISCUSSING THIS WITH THE CHINESE IN THE JLG. OUR AIM IS TO TAKE A DECISION ON THIS MATTER BY THE END OF 1994.
CIVIL SERVICE BRANCH
1 DECEMBER 1992.
PATTEN
YYYY
MAIN
42
DISTRIBUTION
44
.HER MAJESTY'S OVERSEAS
.CIVIL SERVICE RESTRICTED
HKD
LEGAL ADVISERS//MISS BROOKS
FED
NEWS D
RAD//MR WYE
RMD
OVERSEA PENSIONS/ODA//MR FISH PS
PS/MR GOODLAD
PS/PUS
SIR J COLES
MR HUM
MR KERBY
MR MUIR
ADDITIONAL
2
MR C ELSTON BANK OF ENGLAND
NNNN
MR J P MCINTYRE HMT
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