Hongkong, 14th November, 1905.
The Committee appointed by His Excellency the Governor to put forward the views of the Civil Service on the subject of the Widows and Orphans Pension Fund have the honour to report that after consulting all contributors to the Fund they find:-
1. That the Service is unanimously opposed to the proposal that the Fund should be transferred to the Government.
2. That a majority of contributors are in favour of a compulsory insurance scheme in place of the present Pensions scheme.
3. That a minority prefer that the existing scheme should continue, but are of the opinion that the pensions are insufficient in view of the large amount of the total annual contributions. They further suggest that the daughters of deceased officers should be supported from the Fund until marriage instead of until the age of 21 years only.
With regard to the question of the transfer of the Fund the Committee desire to point out that the Government has, under Section 13 of Ordinance No. 30 of 1890 and Section ... of Ordinance No. 3 of 1900, guaranteed that all contributions shall during the continuance of the Fund bear interest at the rate of 6% per annum.
Under present circumstances the Government employs the Fund for purposes of General expenditure paying 6% compound interest for the use of the money.
Honourable
The Colonial Secretary.