PENDL
DATE
JARUS
CONFIDENTIAL
འ
<.
لاما
CHE Lupical 1ssue of pension safeguards,
the existing arrangements provide for civil service pensions to be paid out of the general revenue,
Despite the fact that
under the pensions legislation, pensions are a right and a
statutory charge on government funds and the very firm
assurances given in the Joint Declaration and the Basic Law, are worried about the security of their
CIVIL
servants
pensions.
going tou for?
7.
Staff associations have put forward a number of
suggestions which they believe will give added security to These are summarised in the second
their pensions,
information paper which we have provided (Paper 2).
Basically, staff are seeking funding of pensions and pay ment
of their accrued pension benefits before 1997. Their worries
are indicative of a lack of confidence in the future. We
to give
understand the staff
concernTS and therefore propose to
their proposals careful consideration to see to what extent,
their concerns
11 any,
thesel
these can be met.
First,
however,
economical,
practical
and
we must assess the financial,
political implications
of
each
of
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