SECRET HKA 233/1
153
022442
MDHOAN 1900
SECRET
FM FCO
TO IMMEDIATE HONG KONG TELNO 547
OF 24150OZ MARCH 92
INFO PRIORITY PEKING, UKREP JLG HONG KONG COPY
PERSONAL FOR GOVERNOR
157
152
Q DIST?
REF MY TELNO'S 543, 544: HMOCS: DEFENSIVE LINES
A) STERLING SAFEGUARDS
BEGINS
Pa
2513
THE TRADITIONAL PRACTICE UPON CONSTITUTIONAL CHANGE HAS BEEN FOR HMOCS OFFICERS TO RECEIVE, ON INDEPENDENCE, A COMMITMENT BY THE SUCCESSOR GOVERNMENT TO SAFEGUARD THE STERLING VALUE OF THEIR PENSIONS. THIS IS BECAUSE MANY OFFICERS RETIRE TO THE UK. THE UK GOVERNMENT AND THE HONG KONG GOVERNMENT HAVE BEEN CONSIDERING WHAT IF ANY ARRANGEMENTS MIGHT BE APPROPRIATE TO BE MADE IN THE CIRCUMSTANCES OF HONG KONG. ONE OPTION UNDER EXAMINATION HAS BEEN POSSIBLE PRIVATE SECTOR SCHEMES, IN COOPERATION WITH THE HKG, WHICH COULD PROVIDE A MEASURE OF REASSURANCE TO OFFICERS WHO CHOOSE TO TAKE PART IN THEM. NO DECISIONS HAVE YET BEEN TAKEN.
ENDS
B) SPOS
BEGINS
WE HAVE RECEIVED A NUMBER OF REPRESENTATIONS FROM RETIRED HMOCS OFFICERS AND THE OVERSEAS SERVICE PENSIONERS ASSOCIATION ABOUT THE OPERATION OF SPOS. WE ARE CONSIDERING WHETHER ANY AMENDMENT TO THE OPERATION OF THE RULES FOR CALCULATING IT WOULD BE APPROPRIATE.
ENDS
HURD
YYYY
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