can be
done to reassure
civil
servants about their
pensions.
10..
being
Whilst the
examined,
proposal
of funding pensions is
it must be pointed out that this is
unlikely to prove a practicable proposition.
The sums
involved are massive (in the order of HK$120 billion at
current
rate).
the With
Kong Hong
Government's
existing
commitments
for capital expenditure
and
planned
development,
must
be
whole.
a
civil
it is important that the reserves used for the benefits of the community as a The possibility of setting aside a huge sum for The Hong Kong service pension fund is remote.
is therefore actively looking for other ways
Government
a
financial
to
provide
The
options
higher degree of security for pensions. and political implications of various are being carefully assessed, and the exercise will inevitably take some time to complete.
(b)
Dependant
Pensions
Schemes
[the
Widows' and
Children's
Pensions Scheme
(WCPS) and the Widows
and Orphans Pension Scheme (WOPS)
11.
Staff
are
also seeking funding
of the two
dependant pensions
schemes.
There
is
considerable
staff pressure
for voluntary membership under
the
schemes and refund of past contributions to members on
opting out.