CONFIDENTIAL
New FCC/ODA proposal
-Compensation calculated according to full traditional actuarial factors to be payable to all officers serving on 30 June 1997
-To be paid to all by initial instalment of 20% in 1997, then five or six equal annual instalments. Interest of 5% payable on instalments to those who remain in SARG service.
-Use of 1992 salary levels at 1991 average exchange rate uprated in line with UK RPI
-Cap of £120,000 (approximate uprating of £12,000 in line with RPI movement since 1963; HMOCS officers may argue should fix higher cap in line with wage inflation)
-Minimize effect of contract officers' opting for HMOCS enrolment by holding to 30 June 1992 deadline for applications and/or limiting eligible service for calculations to period since HMOCS enrolment.
COST: probably
£41-£47m in 1992 prices
( = £37-£43m in 1991 prices).
(These figures assume
assume that only 50 extra contract officers enrol in HMOCS before the cut-off date.)
CONFIDENTIAL
No comments yet.
Private notes are available after approval.