Foécision on
14 December 1993
CONFIDENTIAL
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par The Disc ft.
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XCC(93)171 Copy No. 4
MEMORANDUM FOR EXECUTIVE COUNCIL
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JAN 1994
RETIREMENT PROTECTION
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THE PROBLEM
A decision is needed on the type of retirement protection system most suitable for Hong Kong.
RECOMMENDATION AND ADVICE SOUGHT
2
It is recommended that the proposal in paragraph 27 below should be announced as the way forward.
3
Members will be asked to advise whether this recommendation should be approved.
BACKGROUND AND ARGUMENT
4
On 28 September 1993, the Council noted the contents of memorandum XCCI(93)34 (copy at Annex A).
5
In the Governor's Policy Address made on 6 October 1993, he stated that he intended to announce the proposals on the way forward on this subject before the end of the year.
6
A number of options have been suggested in the submissions made in response to the Consultation Paper "A Community-wide Retirement Protection System" (the Consultation Paper). These include -
Executive Council