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5. We continue actively to explore different options for
addressing HMOCS officers' concerns about the sterling values of their pensions after 1997. Some of these options would require an element of funding by HMG or the acceptance
by HMG of a contingent liability. Others would not. We
expect to be able to take decisions about this within three
months and shall then open consultations on this subject
too.
6. Finally, the Government are also considering whether to
amend the operation of the rules for calculating the UK
Supplementary Pension for Overseas Service (SPOS) to provide improved treatment for pensioners affected by exchange rate
fluctuations. We expect to decide about this within three
months too and, depending on the outcome, we shall then
discuss the details with the Overseas Service Pensioners'
Association.
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