14
TUESDAY, NOVEMBER 22, 1994
HAVING STUDIED THE PATTERN OF APPLICANTS' ENTITLEMENTS то SP AND THE LIKELY FINANCIAL IMPLICATIONS ON THE FUND, IT IS PROPOSED THAT THE LIMIT OF PAYING SP FROM THE FUND BE INCREASED FROM THE CURRENT LEVEL OF $8,000 PLUS 50 PER CENT OF ANY ENTITLEMENT IN EXCESS OF $8,000 TO $18.000 PLUS 50 PER CENT OF ANY ENTITLEMENT IN EXCESS OF $18,000.
THE PROPOSAL WAS GENERALLY AGREED BY THE MEMBERS.
BOARD MEMBERS ALSO CONSIDERED A PROPOSAL TO INTRODUCE A LIMIT ON THE AMOUNT OF EMPLOYEES' COMPENSATION INSURANCE TO BE PURCHASED BY EMPLOYERS UNDER THE EMPLOYEES' COMPENSATION ORDINANCE.
THEY WERE BRIEFED THAT THERE WAS A GLOBAL TREND FOR THE REINSURANCE MARKET то REFRAIN FROM PROVIDING REINSURANCE FOR AN UNLIMITED AMOUNT.
THIS MEANS THAT INSURERS IN HONG KONG WILL NO LONGER BE ABLE TO PROVIDE UNLIMITED EMPLOYEES' COMPENSATION INSURANCE TO EMPLOYERS WHEN UNLIMITED REINSURANCE IS WITHDRAWN.
MEMBERS WERE INFORMED THAT THE GENERAL INSURANCE COUNCIL OF HONG KONG HAS RECOMMENDED A MINIMUM LIMIT OF COVER OF $100 MILLION IN RESPECT OF CLAIMS RELATING TO ONE OR MORE EMPLOYEES ARISING OUT OF ANY ONE OCCURRENCE INCLUDING LEGAL COSTS.
THE PROPOSAL WAS ACCEPTED BY THE MEMBERS.
DURING THE MEETING, BOARD MEMBERS NOTED THE RETRAINING (AMENDMENT) BILL 1994 WHICH WILL BE INTRODUCED LEGISLATIVE COUNCIL TOMORROW (WEDNESDAY).
THEY WERE ALSO BRIEFED BY THE ACTING SECRETARY FOR AND MANPOWER, MR LAM WOON-KWONG, ON THE LATEST DEVELOPMENT SPECIAL IMPORTATION OF LABOUR SCHEME FOR THE NEW AIRPORT AND PROJECTS.
EMPLOYEES INTO THE
EDUCATION OF THE RELATED
SALARY INDICES FOR MANAGERIAL AND PROFESSIONAL
EMPLOYEES FOR JUNE 1994
THE AVERAGE SALARY LEVEL FOR MANAGERIAL AND PROFESSIONAL EMPLOYEES, AS INDICATED BY THE OVERALL NOMINAL SALARY INDEX (A), INCREASED BY 10.4% BETWEEN JUNE 1994 AND JUNE 1993.
THE OVERALL NOMINAL SALARY INDEX (B), WHICH MEASURES CHANGES IN THE AVERAGE SALARY LEVEL ONLY FOR THOSE MANAGERIAL AND PROFESSIONAL EMPLOYEES WHO REMAINED IN THE SAME OCCUPATION AND IN THE SAME COMPANY IN BOTH 1993 AND 1994, ROSE BY 14.7% OVER THE SAME PERIOD.
THE ABOVE RESULTS ARE BASED ON THE FINDINGS OF THE 1994 SURVEY OF SALARIES AND EMPLOYEE BENEFITS
MANAGERIAL AND PROFESSIONAL EMPLOYEES (EXCLUDING TOP MANAGEMENT) RELEASED TODAY (TUESDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.
/BOTH SALARY
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