XN000022-1994-07-28 — Page 12

10

THURSDAY, JULY 28, 1994

THERE IS ALSO A GROWING NEED FOR DEDICATED CONTAINER HANDLING FACILITIES FOR RIVER TRADE. ALTHOUGH CONTAINERISATION ACCOUNTED FOR ONLY 10 PER CENT OF RIVER CARGOES IN 1991 THE PROPORTION INCREASED TO 20 PER CENT IN 1993. PRESENT FORECASTS SHOW IT WILL REACH 41 PER CENT BY 2011.

RIVER CARGO HANDLING FACILITIES, MAINLY PUBLIC CARGO WORKING AREAS, ARE EXPECTED TO REACH CAPACITY BY 1996.

MORE ACCURATE STATISTICS WILL PERMIT MORE DETAILED PLANNING

OF

FUTURE FACILITIES.

PENSION SCHEME THE BEST OPTION

THE ACTING DIRECTOR OF SOCIAL WELFARE, MRS LOUISE WONG, TODAY (THURSDAY) SAID THE GOVERNMENT'S OLD AGE PENSION SCHEME PROPOSAL HAD

OF BEING ADVANTAGES

AFFORDABLE, RESPONSIBLE, PRACTICAL AND

THE

COMPASSIONATE.

SPEAKING TO A GROUP OF ELDERLY PEOPLE AT THE LOK MAN ALICE KWOK INTEGRATED SERVICES CENTRE OF DIOCESAN WELFARE COUNCIL, SHE SAID

PER WITH CONTRIBUTIONS FROM EMPLOYERS AND EMPLOYEES AT JUST 1.5

CENT

BE OF ASSESSABLE INCOME LOCAL RESIDENTS WOULD THEN

ABLE то DRAW A PENSION AT $2,300 PER MONTH ON REACHING 65 YEARS OF AGE.

SOCIAL

COMMENTING ON A PROPOSAL TO RESORT TO THE COMPREHENSIVE SECURITY ASSISTANCE SCHEME TO HELP THE NEEDY ELDERLY, SHE SAID THERE WAS GENERAL CONSENSUS THAT THE ELDERLY PERSONS WOULD PREFER THE DIGNITY OF HAVING A NON-MEANS-TESTED PENSION RATHER THAN RELYING ON A SOCIAL SECURITY SCHEME.

++

"AS TO THE ALTERNATIVE OF INCREASING OLD AGE ALLOWANCE TO $2,300 PER MONTH FOR THE ENTIRE ELDERLY POPULATION, THIS WILL IMPOSE A SERIOUS TAX BURDEN ON OUR WAGE EARNERS AND MAY BE SOMETHING WHICH THE ELDERLY WOULD NOT HAVE WISHED."

"ON THE OTHER HAND, SETTING UP A CENTRAL PROVIDENT FUND SCHEME WILL NOT HELP THE PRESENT GENERATION OF 590,000 ELDERLY PEOPLE, THE MAJORITY OF WHOM HAVE RETIRED AND HAVE NEVER BEEN ABLE TO CONTRIBUTE TO A CENTRAL PROVIDENT FUND SCHEME. IT WILL NOT BENEFIT THE LARGE NUMBER OF HOUSEWIVES.

*

"THE OLD AGE PENSION SCHEME,

甲

OPTION, MRS WONG STRESSED.

THEREFORE,

REMAINS THE BEST

SHE SAID THE GOVERNMENT HAD PLEDGED MAJOR FINANCIAL SUPPORT FOR THE SCHEME BY AGREEING TO PLOUGH BACK ALL THE SAVINGS IN EXISTING OLD AGE BENEFITS AT $3.6 BILLION IN 1994, AND BY CONTRIBUTING AS AN EMPLOYER, AT A COST OF ABOUT $1.2 BILLION IN 1994.

ONE-THIRD OF

TOGETHER WITH THE $10 BILLION CASH INJECTION AS A START-UP FUND, THE GOVERNMENT WOULD ALREADY BE MEETING MORE THAN THE TOTAL COST OF THE SCHEME, MRS WONG EXPLAINED.

SHE INVITED MEMBERS TO GIVE THE VIEWS ON THE SCHEME IN THE CONSULTATION PERIOD BEFORE THE END OF OCTOBER.

0

/11