TNAG-2033-FCO40-2896-Visit-by-Douglas-Hurd--Secretary-of-State-for-Foreign-and-Co-1990 — Page 134

can be

done to reassure

civil

servants about their

pensions.

10..

being

Whilst the

examined,

proposal

of funding pensions is

it must be pointed out that this is

unlikely to prove a practicable proposition.

The sums

involved are massive (in the order of HK$120 billion at

current

rate).

the With

Kong Hong

Government's

existing

commitments

for capital expenditure

and

planned

development,

must

be

whole.

a

civil

it is important that the reserves used for the benefits of the community as a The possibility of setting aside a huge sum for The Hong Kong service pension fund is remote.

is therefore actively looking for other ways

Government

a

financial

to

provide

The

options

higher degree of security for pensions. and political implications of various are being carefully assessed, and the exercise will inevitably take some time to complete.

(b)

Dependant

Pensions

Schemes

[the

Widows' and

Children's

Pensions Scheme

(WCPS) and the Widows

and Orphans Pension Scheme (WOPS)

11.

Staff

are

also seeking funding

of the two

dependant pensions

schemes.

There

is

considerable

staff pressure

for voluntary membership under

the

schemes and refund of past contributions to members on

opting out.