CONFIDENTIAL
Disadvantages
(a)
(b)
(c)
(a)
(e)
No consistency of treatment of the individual given that exchange rates can vary rapidly over a short period. Date of retirement produces arbitrary results, eg pre and post Black Wednesday
There could be great pressure from existing pensioners for such a scheme to be introduced immediately No quantifiable guarantee to the individual
Might be an inducement to officers to retire early so as to guarantee the level of their safeguard
Could involve real expenditure on date of introduction on pensioners who retired at favourable HK dollar exchange rates
options.1.
SLM
CONFIDENTIAL
8
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