OPTION C
CONFIDENTIAL
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Use of full traditional factors to calculate total for all serving in 1997
Payment phased in 5 (or 6) equal instalments (first payment 20% of total) with interest at 5% pa for those who continue
Cap of £120,000
COST: [£ 54 m]
£48M
1997/98:
£10m
1998/99:
£10m
1999/2000: £11m
2000/01: £11m
2001/02:
£12m
2002/032
nil
OPTION D
Use of half traditional factors to calculate total for all serving in 1997
Payments phased as in Option C
No cap
COST: [£ 40 m]
1997/98:
£8m
1998/99:
£8m
1999/2000: £8m
2000/01:
£8m
2001/02:
£8m
2002/03: nil
NOTE: All above figures are given in 1992 UK prices (we have proposed that the basis of calculation should be the 1992 salary equivalent of the rank in which the officer is serving in 1997, converted into sterling at the 1991 average exchange-rate, upgraded in line with subsequent increases in UK
RPI).
options.1.
SLM
CONFIDENTIAL
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