XN000022-1990-07-10 — Page 3

EN

2

TUESDAY, JULY 10, 1990

+

(E)

CIVIL

HA

ANOTHER MODIFICATION IS IN RELATION TO THE BRIDGING-OVER ARRANGEMENTS IN TERMS OF THE EARNED PENSION OF SERVANTS. PREVIOUSLY, CIVIL SERVANTS OPTING FOR FULL TERMS CAN HAVE THEIR EARNED PENSION DEFERRED OR DEPENDING ON WHETHER THEY ARE ON THE NEW OR OLD TERMS, AND WHETHER THEY HAVE 10 YEARS OF SERVICE.

+

TWO CHANGES ARE NOW MADE :

(1)

(2)

FOR

TERMS,

FROM

HOSPITAL

FROZEN PENSION

AUTHORITY PENSION TIME

THOSE WHO OPT FOR FULL

THE CALCULATION OF THEIR EARNED WILL BE BASED ON THEIR SALARY POINT AT THE OF THEIR DEPARTURE

THE CIVIL SERVICE (INSTEAD OF THE SALARY AMOUNT ADJUSTED BY ANNUAL PENSION INCREASE}, THE PENSION THEY WOULD ON RETIREMENT FROM THE HOSPITAL AUTHORITY THUS BENEFIT FROM ANY SUBSEQUENT IMPROVEMENT CIVIL SERVICE SALARIES.

GET WILL IN

TO CIVIL EMPLOYMENT·

- STAFF CAN ALSO HAVE THE CHOICE OF CONTINUING

EARN PENSION ENTITLEMENTS AS IF THEY WERE SERVANTS DURING THE PERIOD OF THEIR WITH

SO OPT THE HOSPITAL AUTHORITY; THOSE WHO WILL NOT RECEIVE BENEFITS UNDER THE HOSPITAL PROVIDENT FUND AND THEIR CASH WILL BE REDUCED

TO BY SIX

11 SCHEME IS POINTS, SINCE A PENSION

A TO THE EMPLOYER THAN

PROVIDENT

AUTHORITY

ALLOWANCE

PERCENTAGE

MORE COSTLY FUND.

HOSPITAL AUTHORITY WAS SINCE THE REPORT OF THE PROVISIONAL

THREE- TABLED IN THE LEGISLATIVE COUNCIL ON APRIL 4, THERE HAS BEEN A MONTH CONSULTATION EXERCISE.

COMMENTING ON THE ENHANCED PACKAGE, MRS WONG SAID THIS HAD BEEN PREPARED HAVING REGARD TO FEEDBACK FROM STAFF.

THE

"THE PACKAGE IS CONSIDERED TO BE MOST REASONABLE, AND HAS FULLY

THIS IS INTO ACCOUNT THE LEGITIMATE INTERESTS OF STAFF. GOVERNMENT'S FINAL OFFER.

TAKEN

IN

THE

EXERCISE

THE

"HOWEVER, STAFF WILL STILL HAVE THE OPTION TO REMAIN SERVICE. THEY

CIVIL

WILL

[

OPTION, SHE POINTED OUT.

BE GIVEN THREE

YEARS TO

OF

ON THE FINANCIAL IMPLICATIONS, MRS WONG SAID THE INCLUSION

ALLOWANCE COULD THE VALUE OF THE DEPARTMENTAL QUARTERS IN THE CASH COST AN ADDITIONAL $70 MILLION A YEAR, BUT THIS COST WOULD BE OFfset INSOFAR

THE DEPARTMENTAL IT

RECOVER WAS POSSIBLE TO CURRENTLY OCCUPIED BY HOSPITAL SERVICES DEPARTMENT STAFF.

AS

QUARTERS

THE CASH

"THE REINSTATEMENT OF THE 10 PER CENT REDUCTION OF ALLOWANCE IS ESTIMATED TO COST AN ADDITIONAL $50 MILLION PER ANNUM, AS COMPARED TO THE TERMS PRESENTLY ON OFFER," SHE SAID.

/MRS WONG