HONG KONG:
Huges p.a. pls [First version
Policy
15/7 CONFIDENTIAL
HM OVERSEAS CIVIL SERVICE: for
HKA 233/1
OPTIONS FOR HMG-FUNDED ARRANGEMENTS
STERLING SAFEGUARDS FOR PENSIONS
Option A:
(460,
My Ricketts think we might try to aim
on options paper something "on these lines -ie purely factual, with all argument kept separate, as there can be no agrees benver Depts. Any thoughts
2
Max
aluê
HMG to under-write pensions at 1991 average exchange-rate (HK $13.76 : £1 ), ie HMG would pay supplements if the Hong Kong dollar fell below this level.
i
Any thoughts? Felops delete Ophom E-G. of compensation?
hae
пс
an
Option B:
ANNUAL COST:
If HK dollar at or above this rate:
If HK dollar fell to HK $20 : £1 :
in 1998: £
in 2010: £
(peak year)
If HK dollar fell to HK $25 : £1 :
in 1998: £
in 2010: £
(peak year)
Nil
My Gx
apree
His is wor
queeze
trying: Com He number of opties for Compensation - give Hal we're realh talking eh of chetter or not to improve our existing otter, nol
If HK dollar became worthless (or if SARG defaulted):
in 1998: £
in 2010: £
?
(peak year)
resile from it?
Persille kom vidrieth form. effect of each option? les optie C, presumably gives more to lower-paid
HMG to under-write pensions at "historic" rate of HK $16
Mę1.
I think we can delete ophon I cal option Gund
charge upton
F
as
inclicciled
ANNUAL COST:
If HK dollar at or above this rate:
If HK dollar fell to HK $20 : £1 :
in 1998: £
in 2010: £
(peak year)
If HK dollar fell to HK $25 :
in 1998:
ين بن
£
£
(peak year)
Nil
Police officer, while Ĉ allows some Admin officer to do very
10/7
well?
on de costed
draft attached.
hajures
Re maximum hajung
are ajud
in 2010:
If HK dollar became worthless (or if SARG defaulted):
nuch Leaker!
we don't need fart wound so
to
much. M
in 1998: £
in 2010: £
(peak year)
CONFIDENTIAL
10')
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