XN000022-1995-03-29 — Page 102

Reply:

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(a)

(b)

(c)

હ

(d)

So far, the Registrar of Occupational Retirement Schemes has received only 3,000 applications for registration of schemes under the Occupational Retirement Schemes Ordinance. As there is no requirement for such applications to be accompanied by audited scheme accounts, the Registrar does not have comprehensive statistics on the investments of the schemes.

However, the Registrar has access to some investment statistics from market sources. Wyatt's Annual Reports on Measurement of Investment Performance Survey for Hong Kong Retirement Schemes are one reliable source of such information. The answers to the remaining questions are based on these reports.

The latest (1994) Wyatt report covers the period from 1983 to 1994, and statistics for each intervening period (e.g. 1984/1994, 1985/1994, 1986/1994, etc.) and for the year 1994.

Fut

The survey conducted by Wyatt covers 39 investment managers and 281 funds with a total investment value of HK$46.6 billion. It is not known how many schemes are covered.

The number of existing occupational retirement schemes is estimated at about 20,000-25,000, of which 15,000 have been approved by the Inland Revenue Department for tax purposes. The numbers of such tax approved schemes during the relevant period are:-

Schemes Approved by IRD

Year

1994

14,911

1993

13,400

1992

11,687

1991

10,266

1990

8,615

1989

7,181

1988

5,802

1987

4,826

1986

4,105

1985

3,658

1984

3,325

1983

2,943