Handed over at Briefing for.
Pensions on 10.10.91.
Chumme side in
Forecast of Pension Expenditure as a Percentage of the Government's Operating Expenditure for the period 1990-91 to 2004-05
Year
Pensions
Government Operating Expenditure
% on Operating
Expenditure
(HKSM)
(HKSM)
1990-91
2,490
63,440
3.9
1991-92
2,590
71,610
3.6
1992-93
3,030
81,260
3.7
1993 - 94
4,000
91,930
4.3
1994-95
4,850
104,420
4.6
1995-96
5,400
118,600
4.6
1996-97
6,280
134,710
4.7
1997-98
7,200
151,620
4.7
1998-99
7,900
170,630
4.6
1999-00
8,750
193,870
4.5
2000-01
10,430
220,270
.4.7
2001-02
11,520
250,270
4.6
2002-03
13,970
283,010
4.9
2003-04
15,900
320,030
5.0
2004 - 05
18,720
361,890
5.2
Explanatory notes
1. HKS figures are at current prices (ie. money-of-the-day prices)
2.
In line with the Jan 1991 extended Long Range Forecast, the following assumptions are used :-
Target growth
rate in
operating expenditure
Year
General inflation
Personnel related inflation
Weighted inflation for operating
expenditure
90-91 to 96-97
7.5"
9.5
8.7
4.5
97-98 to 98-99
6.5
.8.5
7.7
4.5
99-00 to 01-02:
6.5
.8.5
7.7
5.5
02-03 10 04-05: 6.5
8.5
7.7
5.0.
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