2415
Mr N C G Whitney
Hong Kong Department/FCO
Reference
From: D S FISH
(Ext 3444
HKA 233/1
Date: 21 May 1993
-
AH501)
cc Mr McDonald
Mr Woodfield, Tsy
165
STERLING SAFEGUARD FOR EXISTING PENSIONERS
1. This is just to record that I have discussed the mechanics of applying the sterling safeguard to existing pensioners with Kevin Woodfield at the Treasury. We agreed that there were two possible ways of dealing with this; one would be to apply a varying safeguard going back to the date of retirement; the other would be to update pension retirement salaries to 1992 levels and apply the safeguard rate eventually agreed for serving officers.
2.
Kevin Woodfield and I both felt that the latter arrangement would be infinitely preferable in administrative terms, especially as the Hong Kong Government have indicated their willingness to handle the uprating exercise which would be required.
This was, of course, the conclusion reached during our previous discussions with the Treasury.
que
D S FISH
Overseas Pensions Department 21 May 1993
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