XN000022-1994-01-10 — Page 10

MONDAY, JANUARY 10, 1994

SWAC CHAIRMAN, MR ERIC LI, SAID MEMBERS FULLY PRINCIPLE

THERE WERE SOME AND SPIRIT OF OPS. HOWEVER, ITS PRACTICAL IMPLICATIONS.

SUPPORTED CONCERNS

THE OVER

WHICH

MR LI SAID THE PRINCIPLE OF COLLECTIVE SOCIAL INSURANCE

AND THE YOUNG REQUIRED THE MORE AFFLUENT MEMBERS OF THE COMMUNITY

THE ELDERLY PEOPLE TO SHOULDER GREATER FINANCIAL RESPONSIBILITY FOR AND THE NEEDY WAS LAUDABLE.

BUT SOME MEMBERS FELT THAT IT WAS

TO CONCEPT

THE OF

CLEARLY FOREIGN

TRADITIONAL

OF THE PEOPLE OF HONG KONG WHERE THE VALUES SAVING AND LOOKING AFTER THE FAMILY WAS PERVASIVE.

THIS LESS MAKE GREATER

HE SAID MEMBERS WOULD EXPECT INITIAL RESISTANCE TO TRADITIONAL CONCEPT, ADDING THAT THE GOVERNMENT SHOULD EFFORTS TO EDUCATE THE PUBLIC.

ALSO HELP IF THE

GOVERNMENT COULD

PROVIDE

MORE

"IT WOULD SUBSTANTIVE INFORMATION FOR HONG KONG PEOPLE TO PICK WHICH IS THE BEST OF THE PROPOSED FOUR OPTIONS," MR LI SAID.

THE FOUR OPTIONS ARE:

* MAINTAIN THE PRESENT VOLUNTARY APPROACH;

* AMEND THE PROPOSED SYSTEM LISTED IN THE CONSULTATION PAPER BY

INCORPORATING SOME FORM OF GUARANTEE AGAINST LOSSES;

* INTRODUCE A CENTRAL PROVIDENT FUND (CPF); AND

* INTRODUCE AN OLD-AGE PENSION SCHEME.

SOME MEMBERS POINTED OUT THAT WITHOUT CLEARLY DEFINING BENEFITS ELDERLY PEOPLE MIGHT STILL WISH TO MAINTAIN THEIR CHOICE, MR LI SAID.

ON THE PRACTICAL ASPECTS OF THE SCHEME, MR LI SAID SOME MEMBERS

THE RISK AND

FUTURE WERE

ABOUT CONCERNED

THE POSSIBLE POLITICAL

YOUNG FINANCIAL BURDEN ON THE GOVERNMENT, THE BUSINESS SECTOR AND THE PEOPLE.

POPULATION DIFFICULT

H

SCHEME,

HE

"SOME MEMBERS

ELDERLY WERE CONCERNED THAT AS THE GROWS ITS POLITICAL INFLUENCE WILL ALSO INCREASE, MAKING IT TO RESIST ADDED.

SUGGESTIONS OF IMPROVEMENT MADE TO ANY

THE

THE COMMITTEE URGED THE GOVERNMENT TO ADDRESS THESE CONCERNS IN THE FEASIBILITY STUDY AND IN PARTICULAR, TO DRAW LESSONS FROM OVERSEAS

EXPERIENCES.

THE ADMINISTRATION HAD ALSO AGREED TO SWAC's FURTHER BRIEFING ON THE FEASIBILITY REPORT UPON ITS RELEASE.

REQUEST FOR

OF

AT THE MEETING, MEMBERS WERE ALSO BRIEFED ON THE SETTING UP

HELD ITS FIRST A WORKING GROUP ON CARE FOR THE ELDERLY WHICH HAD MEETING ON NOVEMBER 29 LAST YEAR.

THE WORKING

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