$15
the
to
This
Hong
Kong
roll-over
of fund To allow a 5-year of pension alone. billion, the amount involved is about $5 billion per year in next 3 years so that the $15 billion could be made available
1997. serve as a small reserve fund for pensions before
to attract interest Fund would continue Reserve Fund.
like the
but
be
We consider the setting up of the Fund as a must, we hope, an additional proposal with various options can also
categories produced to meet the needs of officers of different
include upon their individual circumstances. The options could the setting up of a Civil Service Provident Fund Scheme, a higher and a modified civil commutation, a Pension Morgage Scheme service housing benefit scheme, etc.
shall
We belief the availability of this Pension Reserve Fund and put their would definitely allay civil servants' anxiety minds at ease. If not, we afraid, civil servants' worries continue to prevail and thus very detrimental to the Government's effective administration to the territory, thereby eroding Kong's continuing prosperity and stability, a price the territory can hardly afford to pay.
take Chinese
Hong
could
the
The Association therefore sincerely hopes if you up the matter with the Chinese Government and persuade
out Officials so that concrete measures could be worked
Joint Liaison Group. Sino-British
If possible the, at the
to
to wishes
you or .. your Association
express representative directly in London in the nearest future.
its
views
On behalf of the members of the Association I thank you in advance for your kind attention.
Yours faithfully,
(Peter H WONG }
President