XN000022-1986-11-25 — Page 11

TUESDAY, NOVEMBER 25, 1986 .

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NO AGREEMENT IN HK-CANADA TALKS

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THE FOURTH ROUND OF TALKS BETWEEN HONG KONG AND CANADA ON A NEW TEXTILES AGREEMENT ENDED IN VANCOUVER YESTERDAY (MONDAY) WITHOUT AGREEMENT, A TRADE DEPARTMENT SPOKESMAN SAID TODAY.

A FURTHER ROUND OF TALKS WILL BE HELD IN HONG KONG IN MID-JANUARY WITH A VIEW TO RESOLVING THE DIFFERENCES WHICH

THE EXISTING STILL REMAIN, PARTICULARLY OVER GROWTH RATES. AGREEMENT EXPIRES ON DECEMBER 31, 1986.

ARRANGEMENTS WILL BE MADE TO AVOID DISRUPTION TO TRADE FOLLOWING EXPIRY OF THE AGREEMENT. AN ANNOUNCEMENT WILL BE MADE SHORTLY, AFTER DETAILED ARRANGEMENTS HAVE BEEN CONSIDERED BY THE TEXTILES ADVISORY BOARD.

SYSTEM OF RETIREMENT BENEFITS NEEDED

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THERE IS A NEED FOR A SYSTEM OF RETIREMENT BENEFITS IN HONG KONG AS THE POPULATION IS AGING AND SOCIAL VALUES AND FAMILY STRUCTURE ARE CHANGING.

THIS WAS THE VIEW REACHED BY THE SOCIAL WELFARE ADVISORY COMMITTEE AT ITS MEETING TODAY (TUESDAY) TO DISCUSS THE CONSULTATIVE DOCUMENT ON THE CENTRAL PROVIDENT FUND SCHEME.

HOWEVER, THE COMMITTEE FELT THAT EVEN WITH A RETIREMENT BENEFITS SCHEME, THE PRESENT SOCIAL SECURITY SAFETY NET IN THE FORM OF PUBLIC ASSISTANCE MUST BE MAINTAINED.

IT WAS ALSO OF THE VIEW THAT THESE RETIREMENT BENEFITS COULD BE PROVIDED BY COMPULSORY PROVIDENT FUNDS RATHER THAN ONE CENTRAL FUND RUN BY THE GOVERNMENT OR A CENTRAL BODY.

IT NOTED THAT THESE PROVIDENT FUNDS COULD BE RUN BY A NUMBER OF APPROVED BODIES AND BE REGULATED BY LEGISLATION,

MINIMUM LEVELS OF CONTRIBUTION AND UNIFORM STANDARDS SHOULD

BE SET TO ENSURE FULL TRANSFERABILITY.

THE COMMITTEE SUGGESTED THAT TO ENSURE THAT THE LARGEST NUMBER OF PEOPLE COULD BENEFIT, THESE PROVIDENT FUNDS SHOULD ALSO COVER THE SELF-EMPLOYED AND THE SMALL UNDERTAKINGS.

IT HOPED TO BE INVOLVED IN WORKING OUT THE TECHNICAL DETAILS SHOULD THE GOVERNMENT FIND ITS PROPOSAL ACCEPTABLE.

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