HKMA Pay Review 2004

Press Releases

26 Mar 2004

HKMA Pay Review 2004

The Hong Kong Monetary Authority (HKMA) announced today (Friday) the result of the annual pay review for staff of the HKMA in 2004. The review is undertaken by the Exchange Fund Advisory Committee (EFAC) on the recommendations of the EFAC Remuneration and Finance Sub-Committee (RFSC).

EFAC has, on the recommendation of the RFSC, determined that the Fixed Pay of HKMA staff should continue to be frozen in 2004. EFAC has also determined, on the recommendation of the RFSC, a slight increase in Variable Pay equivalent to about 0.5% of the total payroll of the HKMA for 2004. The Variable Pay will be distributed to staff according to individual performance during the previous year.

Pay for HKMA staff is reviewed annually by the RFSC, taking into account pay surveys conducted by independent external consultants, an assessment by EFAC of the performance of the HKMA during the previous year, and other relevant factors.

For further enquiries, please contact:
Kevin Ip, Manager (Press), at 2878 1687 or
Thomas Chan, Senior Manager (Press), at 2878 1480

Hong Kong Monetary Authority
26 March 2004

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Last revision date : 26 March 2004