TNAG-1609-FCO40-22131-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1987 — Page 144

1.

permit.

The kind of

14

Improvements

which we are now

look ing at are to reduce the qualifying periods,

adjust

the cut off dates, increase the amounts

practicable way ca n be

payable and possibly,

if a

found, to make the benefits transferable. On the

second point, many employers are in fact taking steps

to cover their LSP liabilities by setting up private

retirement schemes, one effect of which is to provide

some form of retirement or resignation benefit to all

employees irrespective of whether they qualify for

the LSP. Some 70 new private schemes are now being

approved every month.

25.

This rapid increase in the number of

private retirement schemes is encouraging, and we

intend to encourage it further with a publicity and

information campaign in parallel with the measures to

improve the regulation of private schemes.

Mrs.

Tam S.

cap

from

I would hope that the

fears that more regulation will deter employers

setting

schemes. up

regulations eventually passed into law by this

Council would be a sensible package unlikely to deter

employers. Indeed prudent regulations

fact, help tọ promote the healthy

private retirement schemes.

could,

in

development

of

26.

examined

Sir, the CPF was rejected only after being

exhaustively

and, I am tempted to say,