IF you have a reasonably good income but wonder where all the money has gone and do not feel secure because of a lack of cash in hand, there is a way raising your standard of living in retirement without having to rely solely on your lump sum and pension.
By saving on a regular and consistent basis (starting right now!) you will see your balance sheet grow and allay fears of having to count every dollar upon retiring.
Here's how to do it.
If you start to save $1,000 per month from the age of 20, at an interest rate of 6 per cent per annum (which is approximately the interest rate given by the Police Credit Union), you will have a total return of $1.53 million at the age of 55. And that's in addition to the lump sum of your pension.
Furthermore, if the average interest rate during your period of regular saving goes up to 8 per cent per annum (which occurs as banks increase their interest rates to over 8 per cent per annum from time to time in accordance with market conditions), you will be able to accumulate $2.51 million still by only saving $1,000 per month.
Projecting further, if you save $2,000 per month for the same period of 35 years, the return on your savings will be $3.07 million (at an interest rate of 6 per cent per annum) and $5.03 million (at an interest rate of 8 per cent).
With the present basic salary of a police constable, and with a little determination and self-discipline, it should not be that difficult to save $1,000 to $2,000 per month.
Even if you are now 30 to 40 years old, you can still accumulate $1.53 million if you are determined enough to start saving at a higher amount per month immediately. For instance, saving $2,038 per month at the age of 30, or $4,749 per month at the age of 40, will add up to $ 1.53 million (at an interest rate of 6 per cent) by the time either group reaches the age of 55. Of course, $1.5 million 20 to 30 years down the road may depreciate because of inflation. However, accumulated cash at hand can afford you options to make a profitable investment when the next opportunity comes along. Lacking money means more lost opportunities. So, think about it. But act now!

Blue Cross (Asia-Pacific) Insurance Limited is offering a voluntary healthcare insurance scheme exclusively for full-time Hong Kong civil servants aged 60 or below. Their spouses and children (aged from 15 days to 18, or full-time students up to age 23) can enjoy the medical coverage as well.
There are three benefit levels to this tailor-made "Civil Servant Healthcare Plan" covering basic hospital and surgical expenses.
There are also Optional Major Medical Benefits, Optional Outpatient Benefits, Optional Maternity Benefits and Optional Dental Benefits available.
A comprehensive check-up programme is offered at a very competitive price.
Brochures and application forms are available at all Staff Relations Offices, District Staff Relations Offices and Regional Welfare Offices.
For general enquiries about the scheme, contact the Customer Service Representatives of Blue Cross (Asia-Pacific) Insurance Limited at 2850-3030.

THE Wong Chuk Hang Police Training School is celebrating its 50th anniversary this year. One of the celebration activities is to publish an anniversary booklet which shows the changes of the school over the past 50 years (1948 - 1998). However, existing records do not contain any information on the Deputy Commandants from 1948 - 1980.
We now wish to seek the assistance of our colleagues in helping us to complete this booklet by supplying information on the Deputy Commandant in PTS in Wong Chuk Hang while they were under training.
Please phone Amy Cheng, IP Support I PTS, at 2814-4336 (fax to 2814-1783) with your recollections.