TNAG-1362-FCO40-1808-Hong-Kong-Hansard-reports-and-minutes-of-the-meetings-of-the-1985 — Page 72

Speech by the Chief Secretary,

in the Legislative Council on 15 May 1985

Pensions (Increase) Ordinance (Cap. 305)

Widows and Orphans Pension (Increase) Ordinance (Cap. 205)

Sir,

I move the first motion standing in my name on the

order paper.

2.

It is approved policy to maintain the original purchasing power of civil service pensions, including pensions payable under the Widows and Orphans Pension Scheme and under

the Widows' and Children's Pensions Scheme. This is achieved

by periodic adjustments to reflect changes in the cost of

living.

3.

During the latest review period from 1 April 1984 to 31 March 1985, the moving annual average of the Consumer Price Index (A) rose by 9.1 points, or 6.19%. In line with

established practice, it is proposed that pensions in payment on 1 April 1985, including previous increases already approved, should be increased by 6 per cent with effect from the same

date.

4.

The total cost of increasing all pensions by this

amount is estimated at $37.1 million for a full year. This is

a statutory charge which may be authorised by Resolution of this Council under the appropriate ordinances.

5.

Sir, I beg to move,