CONFIDENTIAL
ANNEX D(6)
STERLING SAFEGUARDS
Decision not to offer a scheme and to rely on Carr Robertson
In 1964 Mr Robert Carr, the then Secretary for Technical Cooperation, stated in letters to Sir James Robertson that "if for any reason it should so happen in relation to the payment of a pension that a pensioner finds himself in financial difficulty, HM Government would feel obliged to take appropriate remedial action" and that "the British Government would ensure the payment of pensions in the event of a default."
In 1985 Ministers agreed that if asked we would reconfirm these assurances.
If we were to decide not to introduce any sterling safeguard, we would still then have a commitment to step in to assist HMOCS officers "in difficulty" or if the SARG stopped paying pensions. The financial implications of this are difficult to quantify and would clearly depend on how much assistance HMG was prepared to give.
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CONFIDENTIAL
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