CONFIDENTIAL
IN SUPPORT OF OUR COMPENSATION INCENTIVE SCHEME
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The Joint Declaration provides unique guarantees about future employment.
Elsewhere, there was a clear commitment to localisation, making compensation for loss of career a much more justifiable concept.
We are offering compensation to all on the basis that they will be superseded for promotion many will not.
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The sums of money on offer are very substantial particularly when compared with benefits which may be earned by UK public servants.
The benefits also compare very favourably with those
offered in other territories the end product is not.
the factors are smaller but
Compensation is paid in addition to the very high salaries paid in Hong Kong.
Elsewhere, compensation schemes were capped in a way that denied many senior staff their full "entitlement"; for Hong Kong we would be content not to have a ceiling.
Early retirement with immediate payment of pension not appropriate because:
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future employment safeguarded;
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HMOCS officers can resign and preserve their pension elsewhere they lost their pension completely resignation.
on
CONFIDENTIAL
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