XN000022-1992-11-16 — Page 5

MONDAY, NOVEMBER 16, 1992

HE ALSO EXPLAINED THAT TO SET THE MINIMUM LEVEL OF CONTRIBUTION AT 10 PER CENT OF BASIC SALARY IS TO ENABLE SOMEONE WHO JOINS A SCHEME AT THE AGE OF 25 AND RETIRES AT 65 TO RECEIVE A LUMP SUM EQUIVALENT TO 48 MONTHS SALARY UPON RETIREMENT.

CHAN SAID THAT IS ΤΟ THE

—

ON THE QUESTION OF TRANSFERABILITY OF BENEFITS, MR THE BENEFITS ARISING FROM THE MINIMUM LEVEL OF CONTRIBUTION 10 PER CENT MUST BE TRANSFERRED FROM THE PREVIOUS EMPLOYER NEW ONE.

AS AN

-

REMAIN

A

FROZEN SEPARATE

IN THE ACCOUNT

THE BENEFITS CAN ALTERNATIVE,

BE

IN LOCKED

SCHEME OR PREVIOUS EMPLOYER'S INDEPENDENT OF BOTH EMPLOYERS,

HE

CANNOT

BE

WITHDRAWN

++ *IN SAID:

ANY CASE, THESE BENEFITS BEFORE RETIREMENT EXCEPT UNDER CERTAIN SPECIFIED CIRCUMSTANCES.

то DENY THE

"I WOULD EMPHASISE THAT THIS IS NOT AN ATTEMPT

THE MONEY IS STILL HIS, AND HE BENEFICIARY THE USE OF HIS OWN MONEY. WILL REAP THE BENEFITS OF IT WHEN HE RETIRES."

THE SECRETARY SAID THE GOVERNMENT WAS AT PRESENT SEEKING PUBLIC VIEWS ON THE PROPOSALS AND NO DECISIONS HAD BEEN MADE AS YET.

HE URGED THOSE WHO HAD VIEWS OR COMMENTS TO SEND THEM EDUCATION AND MANPOWER BRANCH BEFORE JANUARY 31, NEXT YEAR.

TO THE

AGREED

"ONCE WE HAVE EXAMINED ALL THE COMMENTS, AND COME TO AN POLICY ON RETIREMENT PROTECTION, THEN STEPS WILL BE TAKEN TO INTRODUCE THIS

THROUGH LEGISLATION AT THE EARLIEST POSSIBLE POLICY CHAN SAID.

DATE," MR

SALE AND PURCHASE AGREEMENTS FOR OCTOBER

* * * *

SALE AND

THE TOTAL NUMBER OF REGISTERED IN THE LAND OFFICE IN THE MONTH OF 29.7 PER CENT COMPARED WITH THE PREVIOUS MONTH AND COMPARED WITH OCTOBER LAST YEAR.

IN ALL, 8,253 SUCH AGREEMENTS WERE REGISTERED DURING THE MONTH.

THE CONSIDERATIONS INVOLVED WAS THE TOTAL AMOUNT OF BILLTON.

ABOUT $24.26

PURCHASE

OF AGREEMENTS

FLATS OCTOBER DECREASED BY BY 59.5 PER CENT

WERE THESE FIGURES

INCLUDED IN THE

URBAN THE

ON

MONTHLY STATISTICS

AND NEW TERRITORIES PROPERTY TRANSACTIONS REGISTERED IN LAND REGISTRIES RELEASED TODAY (MONDAY) BY THE REGISTRAR GENERAL.

THERE WERE FIVE BUILDING MORTGAGES AND 12,637 AND 20,481 REGISTERED IN THE MONTH, COMPARED TO 10 OCTOBER, 1991.

OTHER MORTGAGES

RESPECTIVELY

IN

/THE TOTAL