CONFIDENTIAL RA (Labow 77
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sottes
KK 210/ XCC (86)158 30 lú
RECEIVED Copy No..
- 7 OCT 1986
MEMORANDUM FOR EXECUTIVE COUNCIL
TRY
odon Taken
کتا
For discussion
on 7 October 1986.
THE IMPLICATIONS OF ESTABLISHING
CENTRAL PROVIDENT FUND
Introduction
The purpose of this memorandum is to advise Members of the results of a reassessment of the arguments for and against the introduction of a Central Provident Fund (CPF) in Hong Kong and to seek advice on the method of consultation.
Background
2
A
report was submitted to this Council for information in August 1977 which concluded that the balance of economic, social and political arguments did not favour the establishment of a CPF in Hong Kong. Since then, there has been intermittent but growing interest in a CPF and the issue has been raised on a number of occasions in the Legislative Council. In particular, the
the Christian Industrial Committee and groups associated with it have been pressing very hard for the establishment of such a fund and have made it clear that they intend to maintain this pressure. In support of their proposals they have conducted a limited survey which they claim shows a high degree of worker support for a contributory scheme.
3
In response to this growing level of interest, the Administration has conducted a review of the arguments for and against the establishment of a a CPF. The imminent completion of this review was referred to by the Secretary for Education and Manpower in the course of the 1986 Budget Debate.
The review paper
4
The Administration's review paper at the Annex is in three parts.
The first part, which examines the arguments for and against a CPF, is structured as follows :-
(a)
(b)
Introduction (paragraphs 1
-
3);
Characteristics of statutory provident funds (paragraphs 4 ·
9);
CONFIDENTIAL