TNAG-2422-FCO40-3524-Hong-Kong-Her-Majesty-s-Overseas-Civil-Service-(HMOCS)-poli-1992 — Page 182

mimită

Mr Burns

HKA 233/1

yan in #EGISTRY

r MAY 1992

CONFIDENTIAL

ти

M2 Goodlad agrees.

nt in

27

PS/MrGoodlad

PS/M

PS/MEG

*

FROM:

DATE:

CC:

23 APR 1992

PF Ricketts

262

Aug 25.

Hong Kong Department

24 April 1992

PS/PUS

Sir J Coles

Mr Muir

Mr Kerby, ODA

Mr Fish, ODA

Mr Davies, FED

Miss Brooks,

Secutar of State

Legal Advisers

Mr Wye, RAD

News Dept

RMD

HONG KONG: HER MAJESTY'S OVERSEAS CIVIL SERVICE (HMOCS):

PENSIONS

2911

Problem

A 1. Mr Mellor's letter of 19 March argued that we should

place the onus on the Hong Kong Government (HKG) to find a

solution to the sterling safeguards problem, preferably by pressing the Hong Kong Government to pay to HMG before 1997 the capitalised value of HMOCS pensions.

Recommendation

2.

That the Secretary of State should minute Mr Portillo: (a) to urge that we resolve this problem before the new

Governor takes up his post;

(b) to explain that no HKG or private sector scheme will

meet the HMOCS obligation or provide political cover for

capitalisation of HMOCS pensions; and

(c) to argue that HMG should therefore step in so that, as

PJZAYG/1

CONFIDENTIAL