20/06/92
15:07
OVERSEAS DEV ADM
NO. 033
p.a. plo ar 2216
FACSIMILE TRANSMISSION
HKA 233/1
TO:
Emma Williams
Hong Kong Departnment FCO
From:
Alex Harper
Policy Section AH 527
Overseas Pensions Department ODA
001
410
Fax no: 071 270 3387 Tel no: 071 270 2652
Fax no: 0355 84 4099 Tel no: 0355 84 3526
HMOCE CAPS IN PREVIOUS COMPENSATION SCHEMES
I attach the further information you asked for in your fax of 18 June
404
I am afraid we do not have a record of the HK $-E Sterling exchange rates based on the rate each day. I have therefore used the rate we apply when we pay overseas pensions; either the Bank of England or Financial Times mid-monthly exchange rate since all territories are linked to one or the other.
The "Benefit Scheme" introduced in the Western Pacific (ie Solomon Islands, Vanuatu and Kiribati [including Tuvalu]) was introduced on 1st April 1969, several years before independence and although it was unique, it was based, as far as possible, on the corresponding provisions of General Compensation Schemes. Its purpose was to "buy out" the officers' right to retire with a pension entitlement on or after reaching age 45 years and to provide for the payment of lump sum benefit (payable in annual installments) in return for the officers' undertaking to complete further periods of service in a pensionable capacity in the Western Pacific. Entry into the Scheme was voluntary, by the exercise of a once for all option; of the 103 officers eligible to enter, 99 exercised the option to do so. The maximum benefit payable under the Scheme was £10,000 (21,430 Australian Dollars).
When the Western Pacific Territories decided on a firm policy of localisation which could have effected the career prospects of expatriate pensionable officers, a Limited Compensation Scheme was intoduced. The Scheme became into operation as from 1 April 1975 and the maximum amount of compensation payable under the Scheme was 32,000 Australian Dollars or £18,000 whichever the greater.
I have altered the table of General Compensation Schemes to reflect the fact that this Scheme is not strictly the same as the others.
Alex Garde
Alex G Harper
Overseas Pensions Department
19
June 92
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