!
To meet the exemption requirements, the overall employers' and employees' contributions in these schemes must equal or exceed the mandatory 10 per cent requirement of the MPF, with employers contributing no less than 5 per cent; and these schemes must not be open to new employees.
"In other words the existing schemes would be allowed to run their course with their existing members and would not be available as an alternative to MPF provision for new members. They will eventually phase out in favour of MPF- consistent arrangements," Mr Leung explained.
The broad principle of conditional exemption will be built into the primary legislation.
End/Tuesday, May 9, 1995
Exco approves Kindergarten Subsidy Scheme
The Governor-in-Council today (Tuesday) approved a scheme, which is estimated to cost $83.42 million for a year, to subsidise Hong Kong's kindergartens starting from September this year.
The council also endorsed the introduction of one "harmonised" salary structure for kindergarten teachers and child care workers in day nurseries from this September.
Under the Kindergarten Subsidy Scheme, which will start this September, non- profit-making kindergartens (NPM KGs) will be eligible to apply for a subsidy based on a rate of $695 per pupil per year, provided that the annual fee per pupil in the 1994/95 school year does not exceed $8,300.
Both the subsidy rate and the annual fee cut-off point will be adjusted for inflation annually thereafter.
"For a standard NPM KG with 320 pupils, the subsidy will be $222,400 per year. For an NPM KG with 80 pupils or less, a flat annual subsidy of $55,600 will be paid," a Government spokesman said.