XN000022-1994-02-23 — Page 6

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WEDNESDAY, FEBRUARY 23, 1994

NEW OCCUPATIONAL RETIREMENT SCHEME LOGO

FOR USE IN JOB ADVERTISING

SCHEMES

THE OFFICE OF THE REGISTRAR OF OCCUPATIONAL RETIREMENT TODAY (WEDNESDAY} LAUNCHED A NEW INITIATIVE IN PROMOTING THE ESTABLISHMENT OF PRIVATE RETIREMENT SCHEMES.

EMPLOYERS WHO OPERATE OCCUPATIONAL RETIREMENT SCHEMES WILL BE ABLE TO HIGHLIGHT THIS FACILITY IN THEIR RECRUITMENT ADVERTISING VIA THE USE OF A NEW LOGO.

THE UMBRELLA-SHAPED LOGO WILL QUICKLY INDICATE THAT A RETIREMENT SCHEME IS OFFERED BY AN EMPLOYER AND WILL ACT AS AN INCENTIVE FOR JOB SEEKERS. THE UMBRELLA LOGO HAS BEEN ADOPTED AS IT SIGNIFIES FINANCIAL PROTECTION FOR THE FUTURE.

THE LOGO WILL BE MADE AVAILABLE AT NO CHARGE TO ALL HONG KONG PUBLICATIONS WHO CARRY RECRUITMENT ADVERTISING. EMPLOYERS WHO OFFER EMPLOYEES RETIREMENT BENEFITS WILL BE ABLE TO DRAW ATTENTION ΤΟ THE FACT BY USING THE UMBRELLA LOGO IN EVERY JOB ADVERTISEMENT.

ANY PUBLICATIONS OR ORGANISATIONS WISHING TO OBTAIN A COPY OF LOGO SHOULD CALL THE OFFICE OF THE REGISTRAR OF OCCUPATIONAL RETIREMENT SCHEMES HOTLINE ON 867 4642.

THE

REGISTRAR OF OCCUPATIONAL RETIREMENT SCHEMES, MR STEPHEN IP, SAID: "WE BELIEVE THAT THIS INITIATIVE WILL BE WELCOMED BY EMPLOYERS AND THE MEDIA ALIKE.

"EMPLOYERS WILL BENEFIT AS THOSE WHO OFFER RETIREMENT

SCHEMES WILL BE

AT AN ADVANTAGE OVER THOSE WHO DO NOT AND THEIR VACANCIES SHOULD ACCORDINGLY BE MORE ATTRACTIVE TO JOB SEEKERS.

"NEWSPAPERS WILL BE ABLE TO OFFER THEIR ADVERTISING CLIENTS AND READERS A VALUE-ADDED SERVICE, MAKING EMPLOYMENT BENEFITS CLEARER IN ADVERTISING."

THIS INITIATIVE IS ALSO DESIGNED TO BRING PEOPLE'S ATTENTION TO THE BROADER ISSUE OF OCCUPATIONAL RETIREMENT SCHEMES.

"WHILE THE GOVERNMENT IS CONSIDERING AN OLD AGE PENSION SCHEME FOR ALL HONG KONG PEOPLE, WE WANT TO BRING THE IMPORTANCE OF PRIVATE OCCUPATIONAL RETIREMENT SCHEMES TO EVERYONE'S ATTENTION. THE TWO ARE NOT MUTUALLY EXCLUSIVE."

THE GOVERNMENT SCHEME IS DESIGNED TO MEET THE VERY BASIC NEEDS OF THOSE OVER THE AGE OF 65. ON THE OTHER HAND, EMPLOYERS' SCHEMES ARE USUALLY DESIGNED TO PROVIDE MORE SUBSTANTIAL RETURNS AND TO MEET THE PARTICULAR NEEDS OF THEIR EMPLOYEES.

ADDITIONALLY, THE NEW OCCUPATIONAL RETIREMENT SCHEMES ORDINANCE WHICH HAS BEEN IN OPERATION SINCE OCTOBER 15, 1993 REQUIRES ALL PRIVATE RETIREMENT SCHEMES TO BE REGISTERED AND THERE ARE STATUTORY REQUIREMENTS TO ENSURE THAT THE RETIREMENT BENEFITS PROVIDED TO SCHEME MEMBERS WILL BE PAID WHEN THEY FALL DUE.

"THIS FROVIDES FOR LONG-TERM SECURITY FOR THE CONTRIBUTIONS MADE TO SCHEMES," MR IP SAID.

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