CO129-593-5 Rehabilitation of Hong Kong University. For extracted photographs see CN 3-45- Provisional Powers Committee 21-8-1946 - 23-12-1946 — Page 186

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Extract from a letter dated December 29th from

Mr. D.J. Sloss to Miss Ruston.

Now that I have in part got Provident Fund accounts brought up to date I find that in my note on our need of money, I have much under estimated what the University Fund will have to pay into the Staff Provident Fund. The University contribution in some cases is 20% and in others 15% and in no case less than 10%. (The average should be somewhere about 18%.) Further we pay interest compounded half-yearly. But during these years no money has been paid into the Provident fund account and therefore we have to find money for compounded interest. I hope at the end of next week to have a much nearer estimate ready.