options.1.HMOCS
πVS
II.
CONFIDENTIAL
OPTIONS WITHOUT HMG FUNDING
OPTION A
1.
No governmental arrangements for HMOCS officers.
2. Officers wishing to obtain some protection for their pensions buy short-term private-sector political risk insurance and/or exchange-rate hedging (at own risk).
OPTION B
HMG legislate (Act of Parliament or Order in Council) to over-ride Hong Kong's pensions legislation and Legislative Council control of finances and to instruct HKG to pay over funds to HMG in respect of HMOCS compensation and the capitalised value of HMOCS officers' pension entitlements: HMG then to make payments to the officers concerned.
CONFIDENTIAL 12
14
Page 90Page 91
No comments yet.
Private notes are available after approval.