CO129-328 - Governor Nathan - 1905 [1-6] — Page 160

pensions

contributions

the same rate

στ

the same

pensions of the contributions

win nduced

G.W.J

1/4

alore

3/4

No. 48.

Hongkong.

cobies per Book

Cost

Sir,

Goe

C 0.

9565

Rece

Goverment Hou2 MAR 05

1

Hongkong, 22nd. February, 1905.

158

12174

04

With reference to Mr. May's Despatch No.~

73 of the 19th. of February, 1904, I have the honour to trans-

mit for your information six copies of the Report of the Di- rectors of the Widows and Orphans' Pension Fund for 1904.

2.

You will observe that the amount of the

fund which on the 31st. December, 1900, when it was reported

on by Mr. E. T. Young, was 788,793.24, has increased to $196,751.91 by the 31st. December, 1904, and that the receipts for this last year were $37,588.07 against payments amounting to $4,224.78.

3.

It is not entirely satisfactory to have a fund of this nature increasing with such rapidity and I recom- mend that the question of altering the scale of contributions in relation to the prospective pensions should be considered by an Actuary when the report for the current year is submit- ted. The necessity for this reconsideration on the basis of the valuation of 1905 was anticipated in the 13th. paragraph of Mr. Young's report of the 5th. April, 1902, of which copies

THE RIGHT HONOURABLE

ALFRED LYTTELTON, K.C., M.P..

Ecc...

&C.,

80..

were