CONFIDENTIAL
The
receive the commutable element before the safeguard came into
effect. However, the right to retire early would have no
bearing on the eligibility of officers for compensation.
actuarial factors used to calculate the compensation payments assume that officers will retire with immediate payment of
pension. The 1954 and 1960 White Papers provide that HMOCS
officers who are prepared to work to the end of British
sovereignty are entitled to both the right to retire with pension and compensation. In Hong Kong compensation, would only be payable to officers whose normal retirement date would
fall after 30 June 1997.
сти Рапи
The Governor and I have discussed all this since you and I
met. We are both concerned that the agreed package should
strike the right balance between the interests of the British taxpayer and those of Hong Kong and the officers concerned. We cannot afford to put forward another proposal which HMOCS officers can reject with justification and with the prospect
of securing Parliamentary backing for their position. The Governor's willingness to consider offering the right to retirement offers the prospect of a substantial reduction in
hope the contingent liability for HMG. I therefore believe that we
cum
quicry
should settle) on a safeguard rate of 16:1 and the Option C compensation scheme, which forms a fair package which we can press on the HMOCS Association.
SECRETARY OF STATE
sos.let.SA
SLM
CONFIDENTIAL
No comments yet.
Private notes are available after approval.