HONGKONG.
No. 19
1908
CORRESPONDENCE RELATING TO THE TRANSFER TO THE GOVERNMENT OF THE WIDOWS' AND ORPHANS' PENSION FUND.
HONGKONG.
No. 11.
Laid before the Legislative Council by Command of His Excellency the Governor, July 2nd, 1908.
DOWMING STREET,
16th January, 1907.
SIR-I have the honour to acknowledge the receipt of your despatch No. 280 of the 15th of November forwarding for the signification of His Majesty's pleasure transcripts of an Ordinance to amend the Widows' and Orphans' Pension Fund Ordimuce 1900.
2. The pension systems of the Colonies-like that of this country-require, speaking generally, no contribution from the Officer towards his own pension and allow nothing to his widow or children after his death. To prevent the possibility of widows and orphans of deceased Colonial officials being left destitute through the omission or inability of the latter to make proper provision for them, Funds were established during the eighties and early nineties—in Ceylon, Mauritius, the Straits Settlements, the Federated Malay States. Hongkong, Jamaica, Trinidad and British Guiana ; and all permanent officers were required to contribute 4 per cent of their salaries to the Fund. The Government made in effect a large contribution to the Fund by agreeing to pay interest at the high rate of 6 per cent on the monies belonging to the Fund which were deposited with it. Pensions were paid to widows or orplans of contributors according to Pension Tables prepared by Actuaries based upon the best mortality.statistics available.
3. Early in the present century it became evident that the Fund system, though necessary to enable the pension system to be started, was not altogether satisfactory, and the policy of successive Secretaries of State recently has been to get the Colonial Governments to take over the Funds and to guarantee the pensions in return for the 4 per cent contributions. This has been done in the Straits Settlements, the Federatad Malay States, Jamaica and Trinidad. The Government of British Guiana took over the Fund (which was