WEDNESDAY, MAY 16, 1990
10
MR YEUNG ALSO AGREED WITH THE VARIOUS TECHNICAL AMENDMENTS TO BE MOVED AT THE COMMITTEE STAGE AND SAID THEY SHOULD MAKE IT EASIER FOR THE BILL TO BE READ AND UNDERSTOOD.
"FOLLOWING ITS ENACTMENT WE WILL PROCEED QUICKLY ΤΟ APPOINT THE EMPLOYEES' COMPENSATION INSURANCE LEVIES MANAGEMENT BOARD AND TO INTRODUCE THE TWO PER CENT COMBINED LEVY ON EMPLOYEES' COMPENSATION INSURANCE PREMIA.
"AS I SAID IN THIS COUNCIL ON MARCH 14, THE MANAGEMENT BOARD WILL COLLECT THE COMBINED LEVY ON BEHALF OF THE OCCUPATIONAL SAFETY AND HEALTH COUNCIL AND THE PROPOSED EMPLOYEES' COMPENSATION ASSISTANCE SCHEME," HE SAID.
CIVIL SERVICE PENSION INCREASE APPROVED
THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY) APPROVED AN
EFFECT FROM APRIL 1, OF 10 PER CENT IN CIVIL SERVICE PENSIONS WITH 1990.
INCREASE
WERE MADE UNDER THE
IN
THE ADJUSTMENTS
PENSIONS (INCREASE) ORDINANCE AND THE WIDOWS AND ORPHANS PENSION (INCREASE) ORDINANCE, TWO MOTIONS MOVED BY THE CHIEF SECRETARY, THE HON SIR DAVID FORD.
POLICY WAS SERVICE PENSIONS, ORPHANS PENSION
SIR DAVID EXPLAINED THAT THE GOVERNMENT'S DECLARED TO MAINTAIN THE ORIGINAL PURCHASING POWER OF CIVIL
THE WIDOWS AND PAYABLE UNDER INCLUDING PENSIONS SCHEME AND THE WIDOWS' AND CHILDREN'S PENSIONS SCHEME.
"THIS IS ACHIEVED BY PERIODIC PENSION ADJUSTMENTS IN LINE MOVEMENTS IN THE CONSUMER PRICE INDEX (A)," HE SAID,
"DURING THE
LATEST MOVING
REVIEW ANNUAL
PERIOD FROM
OF AVERAGE
WITH
TO PRICE
"
APRIL
1989 1, THE CONSUMER MARCH 31, 1990, THE INDEX (A) ROSE BY 12 POINTS WHICH IS EQUIVALENT TO 10 PER CENT.
THE TOTAL COST OF THE PENSION ADJUSTMENT WAS $107 MILLION FOR A FULL YEAR, SIR DAVID ADDED.
ESTIMATED
ΤΟ
BE
/11