PUBLIC REACTION
12
30.
It is
unlikely that the public will have any
strong reaction to Government further pursuing a one-year
roll forward pension reserve for the civil service.
PUBLICITY
31.
one-year
pursued.
No publicity is intended at this stage if a
forward pension reserve fund is further
roll
There is media interest in whether Government will
adopt any pension safeguard measures for the Civil Service.
A press line will be prepared. No legislative Council brief
will be issued for the present.
CHINA DIMENSION
32.
The Chinese indicated at earlier JLG meetings that
in their view there would be advantages in setting up a $15
billion reserve for the partial funding of Civil Service
pensions on a five-year roll-forward basis. We have told
them that we could not accept this for financial reasons and
because such а reserve would never be used anyway. We are
committed to consult the Chinese once we decide which pension
safeguard measures should be pursued.