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You also suggest a general protection for all pensioners who outside Hong Kong. Even if this were workable and fundable it would only lead to increased demands for currency protection for all pensions. I must stress that pension safeguards are now an emotive issue with all staff.
As regards pension adjustments, we have concluded that CPI(A) remains the most appropriate indicator for determining pension increases against inflation. This is on the basis that over 90% of our pensioners fall within the expenditure bracket of CPI(A) or below. Our statistics show that only 2% come under the Hang Seng CPI.
I am sorry that I am
am unable to give you a more encouraging reply. It remains our intention to seek ExCo's advice on the proposals to provide relief to pensioners in genuine hardship and to make pension increases a statutory right in April.
!
Meurs wer
Davin
(David Ford) Chief Secetary
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