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040331 MDHIAN 377
(C)
ENCOURAGING THE ESTABLISHMENT OF PRIVATE RETIREMENT SCHEMES AND ENSURING THEIR PROPER SUPERVISION.
THE HONG KONG GOVERNMENT CONSIDERS IT DESIRABLE FOR MORE EMPLOYERS TO INTRODUCE RETIREMENT SCHEMES. HOWEVER, IT DOES NOT BELIEVE IT RIGHT TO COMPEL PARTICIPATION IN SUCH SCHEMES, EITHER BY INTRODUCING A CPF OR BY MAKING THE ESTAB- LISHMENT OF PRIVATE SCHEMES COMPULSORY. ALTHOUGH A CPF CAN PROVIDE ADEQUATELY FOR MANY LONG-SERVING EMPLOYEES, IT TENDS TO BENEFIT LEAST THOSE OLD PEOPLE MOST IN NEED, THAT IS THOSE WHO HAVE NOT HELD STEADY JOBS OR WHOSE PAY HAS BEEN LOW. A CPF WOULD RESULT IN THE ACCUMULATION OF LARGE AMOUNTS OF FUNDS WHICH COULD HAVE A SERIOUSLY ADVERSE EFFECT ON THE ECONOMY. IT ALSO RUNS COUNTER TO HONG KONG'S 'FREE TO CHOOSE' APPROACH TO ECONOMIC MATTERS.''
WILSON
YYYY
ΜΑΙΝ
15
MINIMAL
NNNN
DISTRIBUTION
15
HKD
2
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