XN000022-1993-10-06 — Page 33

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WEDNESDAY, OCTOBER 6, 1993

CARE.

THERE WILL ALSO BE SOME WHO REQUIRE A DEGREE OF INSTITUTIONAL

AN ADDITIONAL 800 CARE-AND-ATTENTION PLACES OVER AND ABOVE THE WHITE PAPER TARGETS ARE URGENTLY NEEDED.

HE SAID THE GOVERNMENT AIMED TO PROVIDE THESE OVER THE NEXT TWO

YEARS.

RETIREMENT INCOME PROPOSALS IN THE PIPELINE

THE GOVERNMENT IS IN THE FINAL STAGES OF IDENTIFYING HOW то RESPOND ΤΟ A POWERFUL SENTIMENT WITHIN THE LEGISLATIVE COUNCIL AND AMONG THE COMMUNITY IN SUPPORT OF MORE COMPREHENSIVE ARRANGEMENTS COVER THE ENTIRE WORKFORCE.

ΤΟ YEAR.

TO

*THE GOVERNOR, THE RT HON CHRISTOPHER PATTEN, SAID HE INTENDED ANNOUNCE THE PROPOSALS ON THE WAY FORWARD BEFORE THE END OF THE

IN HIS SECOND ANNUAL ADDRESS TO THE LEGISLATIVE COUNCIL, MR PATTEN SAID THIS WAS AN INTENSELY DIFFICULT ISSUE, ONE OF THE MOST DIFFICULT TO BE FACED IN THE NEXT FEW YEARS.

"IT GOES TO THE HEART OF OUR ATTITUDES TOWARDS SAVING AND INVESTMENT, AS WELL AS TO PROVISION FOR THE ELDERLY.

CLEARLY, THE LEGCO WILL NEED TO BE SATISFIED WITH THE OUTCOME,

AND WILL PLAY A KEY ROLE IN SHAPING IT, HE SAID.

COMMUNITY

"IT WILL TAKE TIME TO ESTABLISH A CONSENSUS IN THE FOR THE RIGHT WAY FORWARD, BUT IN MY JUDGEMENT, WE WOULD BE WELL ADVISED TO TAKE OUR TIME AND GET THINGS RIGHT.

I

A'T PRESENT, SOME 850,000 EMPLOYEES, OR 30 PER CENT OF THE WORKFORCE, ARE ALREADY MEMBERS OF RETIREMENT SCHEMES PROVIDED BY THEIR EMPLOYERS.

A FURTHER 137,000 MEN AND WOMEN, OR FIVE PER CENT OF THE WORKFORCE, HOLD PENSIONABLE POSTS IN THE CIVIL SERVICE.

ALTOGETHER, 35 PER CENT OF THE WORKFORCE IS CURRENTLY COVERED BY SOME FORM OF PENSTON OR PROVIDENT FUND ARRANGEMENT.

0

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