RESTRICTED
HKA 016/1
-3 DEC 1992
to Richments, KKD
مني
has
The miniar content. Telegram
dafted.
issued as
Mr Hum
6.J. Dorey '3/12
PS/Mr Goodlad
Minister
2
FROM: P F Ricketts
Hong Kong Department
DATE: 3 December 1992
cc: Mr Broadbent,
Economic Advisers
Mr Davies, FED
Ms Everett, News Dept
возмаль
Am 3112.
HONG KONG: LOCAL PENSION SAFEGUARDS
Problem
Cilin
1. HKG want to inform civil service staff associations that
a decision on establishing a pension reserve fund for
local civil servants will be taken in 1994.
280
Recommendation
2.
Despite doubts expressed by Mr Galsworthy, I recommend that we agree HKG's decision. I submit a draft telegram.
Background
3. The Hong Kong Government (HKG) have been considering for some time whether there were any ways in which they could meet
the concerns of local civil servants for some additional
reassurance about the future security of their pensions, going beyond the undertakings in the Joint Declaration and the Basic
Law. ExCo have now concluded that the only feasible option is a pension reserve fund which would finance civil servants pensions if HKG/SARG were unable to do so from general
revenue. On ExCo's advice, the HKG have decided to consider
Loc.pen.PET
SLM
RESTRICTED
103
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