aef1.1g/kw/10.8.7
(iii)
CONFIDENTIAL
(b) variable trigger (eg related to exchange rate
at date of retirement).
Factors to be taken into account;
HMOCS benefit from retiring earlier than UK
counterparts;
relative HK HMOCS/UK civil servant salaries: points to something less than full pensions cover;
should HMG
gain/operate
cumulative offset if
exchange rate moves HK HMOCS' favour?;
'92 or '97 salary levels?;
2.
what date to start making payments?;
mechanics; eg assign pensions to ODA?
Compensation/incentives scheme
Compensation/incentives should only be payable to HMOCS serving on
July 1 1997 to induce them to stay on. If there is a pensions
safeguard arrangement, no reason for HMG to go beyond what is
offered HK HMOCS earlier this year by way of compensation/
incentives bearing in mind that:
HMOCS are well paid;
HK, unlike past DTS changing status, is not an aid
case;
Joint Declaration offers HK HMOCS opportunity to
continue careers beyond 1997; not therefore a compensation scheme for loss of career as in past
DT cases; more an incentive scheme to encourage
HMOCS to stay on.
CONFIDENTIAL
HK
No comments yet.
Private notes are available after approval.