HONG KONG HMOCS OPTIONS: Compensation
everyone stays on after 1997
serving officers 678 (478)
1/1/92 salaries (Hong Kong salary review April 1991) 1991 avg exch rate: 13.7609
retire age 55
5% interest on outstanding balances
No RPI
CAP
£120.000
CAP
£200.000
No CAP
caught by CAP
45%
8%
5%
0%
0%
0%
full
half
full
half
full
half
factors
factors
factors
factors
factors
factors
Estimated costs in UK£ millions
46
30
49
30
50
30
Drawdown
1997
5
9
9
S
1998
9
7
11
7
11
7
1999
12
8
12
12
2000
9
6
9
10
2001
4
8
8
4% RPI on salaries and CAP up to 1997
CAP
£151,838
CAP
£253,064
No CAP
caught by CAP
45%
8%
5%
0%
0%
0%
full
half
full
half
full
half
factors
factors
factors
factors
factors
factors
Estimated costs in UK£ millions
54
37
62
38
63
38
Drawdown
1997
10
7
11
11.5
7
1998
12
8
13.5
8
14
8
1999
14.5
9
15.5
15.5
9
2000
10
7
12
8
12
8
2001
7.5
6
10
6
10
6
4% RPI on salaries and CAP, 1992 to 2001
CAP
£177,629
CAP
£296,049
No CAP
caught by CAP
45%
8%
5%
0%
0%
0%
full
half
full
half
full
half
factors
factors
factors
factors
factors
factors
Estimated costs in UK£ millions
58
38
63
38
63
38
Drawdown
1997
10
7
11
7
11
1998
12
8
14
8
14
1999
14.5
15.5
16
2000
11.5
12.5
12
8
2001
10
6
10
10
6
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