TNAG-0607-FCO40-755-Monitoring-progress-made-on-planning-papers-on-Hong-Kong-1977 — Page 204

2.

As Hon. Members will appreciate the

proposed scheme differs from the sort of social

insurance scheme found in many countries since

it will be up to employees whether they join or not. Moreover such a scheme does not exist in a community

with such complete non-contributory social security

coverage as Hong Kong. The demand for it is therefore difficult to predict.

In view of the

novelty of the scheme there can be no question of

an early decision. First of all care must be taken to establish an actuarial basis and secondly demand for the scheme must be tested. If these hurdles

are successfully taken the necessary legislation will need to be prepared, which I should hope

would certainly be before the end of 1980.

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