CODE 18-77)
Reference
CONFIDENTIAL
5.
Leglo FC
On a related point, I note that the Chief Secretary in his latest letter on HMOCS has raised again the issue of whether HKG could capitalise HMOCS' officers pensions. This option was ruled out in the past for a number of reasons (unified service, transfer of assets, lack of faith in JD, etc) but it may be worth asking HKG to reconsider in view of recent developments (partial funding and increase in pace of localisation). If HKG were prepared to contemplate capitalisation, the Treasury might be more receptive to a traditional compensation scheme. The Governor might not want to consider this until the Prime Minister has replied to his letter, but it remains an option if the Prime Minister's decision is not sufficiently in his favour. If you think this worth exploring further at this stage, I will draft a telegram.
antiluten,
NC G Whitney
Hong Kong Department WH 304 270 2651
18 January 1993
CC: Mr Morris
comp.sch.ADM
CONFIDENTIAL
SLM
No comments yet.
Private notes are available after approval.