XN000022-1988-05-16 — Page 6

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MONDAY, MAY 16, 1988

WHERE THE EMPLOYEE IS SIMULTANEOUSLY ENTITLED TO SUCH AND A PROVIDENT FUND, THE LONG

PAYMENT SERVICE PAYMENT OR SEVERANCE PAYMENT CAN BE REDUCED BY THE AMOUNT OF PROVIDENT FUND CONTRIBUTED EMPLOYER," MR YIU EXPLAINED.

FUND

"IN OTHER WORDS, REGULAR SAVINGS TOWARDS SCHEME COULD ASSIST AN EMPLOYER TO DISCHARGE LIABILITIES UNDER THE EMPLOYMENT ORDINANCE.

"IT COULD ALSO HELP TIDE OVER CASH-FLOW STAFF RETIREMENT OR ECONOMIC RECESSION.

BY THE

A PRIVATE

PROVIDENT HIS FUTURB

PROBLEMS IN

TIMES OF

MR YIU SAID A PRIVATE PROVIDENT FUND ALBO CARRIED ADVANTAGES.

TO EMPLOYERS, HE SAID, THE ESTABLISHMENT OF SUCH A ENHANCE THE COMPANY'S POSITION

IN RECRUITING AND RETAINING REDUCE THE TURNOVER RATE OF EMPLOYEES WITH LONG AND AND CULTIVATE AMONG STAFF A HIGHER MORALE AND A

BELONGING.

OTHER

FUND COULD

STAFF, GOOD EXPERIENCE, GREATER SENSE

OF

THE

"TO EMPLOYEES, THERE IS A BETTER FINANCIAL SECURITY SINCE SCHEME PROVIDES FINANCIAL SUPPORT UPON RETIREMENT OR OTHER SPECIFIC

CONTINGENCIES.

"IN ADDITION, IF THE SCHEME IS APPROVED BY THE DEPARTMENT, THE EMPLOYER'S CONTRIBUTION WILL ALSO OPERATIONAL COST AND TAX-FREE.

INLAND REVENUE BE TREATED

AS

BENEFITS THE

"ON THE WHOLE, PRIVATE PROVIDENT FUND SCHEMES BRING TO BOTH EMPLOYERS AND EMPLOYEES, AND IN THE

IMPROVES RUN, QUALITY OF LIFE AND UPGRADE PRODUCTIVITY IN HONG KONG," MR YIU ADDED.

LONG

TRANSPORT ADVISORY COMMITTEE MEETS TOMORROW *****

THE TRANSPORT ADVISORY COMMITTEE (TAC) WILL MEKT (TUESDAY) TO DISCUSS THE PROVISION OF ADDITIONAL CROSS-HARBOUR TRANSPORT SERVICES TO COPE WITH THE POSSIBLE INCREASED DEMAND FROM THE IMPOSITION OF THE CONGESTION SURCHARGE BY THE MASS RAILWAY CORPORATION AT THE END OF MAY.

TOMORROW

PUBLIC

ARISING

TRANSIT

THE TAC WILL ALSO CONSIDER THE DRAFT FINAL REPORT ON THE ROCK TUNNEL TRAFFIC STUDY.

LION

/ALSO ON