CONFIDENTIAL
Not
agreed by
(TIG
Needs further wal
with HMT.
Q13
Your position on sterling safeguards?
A13 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.
Q14 Position on improvements to SPOS?
A14 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.
REGABY/4
CONFIDENTIAL
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Private notes are available after approval.