TUC
10 Jer 32 Udi
PG.03
-2-
The Hon. E.B. Wiggnam, C.B.E., J.P.,
Continued....
11th September 1992
13
rate officer takes
4. Lastly, I would point out that the GBP/HKD exchange
presently at an historical high. If an out a HKD loan today in order to buy GBP, and finds in five years time that the exchange rate has moved signi- ficantly against
against him, he might well
well feel aggrieved. the GBP value of his commuted pension would be lower than it would have been if he had
if he had simply done nothing, and the whole exercise would only have cost him money.
Nevertheless, should you consider that the potential and financially unquantifiable risks of such a scheme are accept- able, I should be happy to try and quantify the known Costs for you..
I am sorry once again to be so negative but there seems to be no simple and cost effective solution to the problem. Wich the value of the officers'
the officers' pensions at
pensions at stake however I make no apology for acting as the devil's advocatel
Yams
Болю
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