Rer Folia (341
15 March 1993
FN Pusinelli Esq
_HKA 233/1
Chairman, Overseas Service
Pensioners Association
138 High Street
Tonbridge
1 MAP GU
DESK
Kent TN9 1AX
Foreign & Commonwealth
Office
58
B
London SWŁA 2AH
16/2
From The Minister of State
De in Puzimali
・W54
Thank you for your letter of 5 March
Mc Paris
I appreciate that both the HMOCS Association and OSPA are frustrated that a further round of consultations has not yet taken place. However, matters have moved forward since I wrote to you in November last year, and I can confirm that when a package of proposals is presented for consultation it will include provision for a sterling pension safeguard.
The reason we have not been able to put forward a revised package is because agreement has yet to be reached within Whitehall on a couple of fundamental aspects of the package. Also, it is our intention to present at the next round of consultations full details of any schemes that may be put in place. There is no precedent for the pension safeguard scheme that will apply to Hong Kong and we need to clarify a number of complex legal and technical issues before the draft scheme can be finalised. It is important that these points are resolved before further consultations are held so that the operation of the scheme will be clearly understood by those persons who may be affected by it.
You expressed concern that our consideration of a compensation scheme may hold up decisions on providing sterling protection of pensions. I can assure you that these two issues are being examined individually and one is not holding up consideration of the other. However, as you will appreciate, it would not be prudent to take decisions on one element of the package without knowing the total actual and potential cost of the package as a whole.
I would be happy to see a small delegation from OSPA, although I should forewarn you that I may not be in a position to add very much to the information given above. My Diary Secretary can arrange a suitable time. She can be contacted on 071 270 2093.
wiez.
تسليمه
فسه
ALASTAIR GOODLAD
BP 1673
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