TNAG-2427-FCO40-3529-Hong-Kong-Her-Majesty-s-Overseas-Civil-Service-(HMOCS)-poli-1992 — Page 79

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**8% Our Ref ; AP 295/6-C(92) VI

BE Your Ref :

нка 233/1

GOVERNMent secrETARIAT

LOWER ALBERT ROAD

HONG KONG

579

Ms EL Williams

14 September 1992

copies to

Mr Fish ODA

Hong Kong Department

Foreign & Commonwealth Office London

Mr

Dear Emma,

the

HMOCS

-

Hughes GAD Mr RaysON HIT

Me

File.

14/9

(505

Pension Liabilities and Compensation

BY FAX

further to my letter of 26 August 1992, I enclose projected pension liabilities of HMOCS pensioners (1182) and the dependants of deceased HMOCS pensioners (447) and the capitalised value of pension liabilities as at 1997 at Annexes I and L respectively. I wish to draw your attention to the fact that Annex I refers to pension liabilities of HMOCS pensioners and their dependants in receipt of SPOS. My Treasury does not have a comprehensive list of

those eligible for SPOS, please let me know if you have such records.

The assumptions' used are the same as those used last year except that my Treasury has changed the basis of calculation of capitalised value of outstanding HMOCS pension liabilities of serving and potential MMOCS members retiring after 1997. A discount factor of 3.5% p.a, has been applied to the capitalised value of pensions for officers retiring after 30.6.1997. Hence the capitalised value for serving and potential HMOCS as at 1997 now given are smaller than those estimated last year. A list of detailed assumptions is being compiled and will be forwarded to you shortly.

Please let me know

1f you need any additional

information.

Yerus sincraly,

c.c. AP 293/61-(C) (92) IV

(Miss Christina TSANG)

for Secretary for the Civil Service

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