CONFIDENTIAL
about $273 million per annum Refund of past contributions
Plus interest to unmarried serving members who opt out of
the schemes would cost about $359 million in total.
34-
The financial implications of the other Minor
changes of dependant pension benefits recommended in this
Paper would be insignificant.
35.
There
are
ΠΟ staffing implications; the
staff in the Pension
administration of the voluntary scheme will be dealt with
by existing
Pension Units in Civil Service
branch and the Treasury.
Staff Reaction
36.
to
Staff reaction will generally be i vourable to the
proposed changes
dépendant, pension benefits, in
particular, voluntary membership for the WCPS and WOPS.
Continued staff pressure is expected for separate funding
of the schemes as well as the refund of past contributions
to
married members on opting out of the schemes and on
resignation.
Public Reaction
37.
The media has been paying close attention to civil