Bonuses On Gratuity Account Withdrawals
The last day of March, 1948, will be the second anniversary < of those ex-servicemen’s gratuity accounts opened on March 31, 1946. These comprise by far. the most of the war service gratuity accounts. For the convenience of ex-servicemen concerned, a special arrangement has been operating during those two years for the bonus payment of 5 per cent., as apart from interest accrued, to be allowed in advance on withdrawals for certain purposes, such as the purchase of permanent assets or use in businesses.
This arrangement will not continue in the third year for those exservicemen who at the end of March, 1948, will already have had their accounts credited with two bonus payments. Ex-servicemen whose discharge from, the armed forces took place after March 31, 1946, and whose war gratuity accounts consequently did not open until after that date, will be able to operate on the arrangement until two years from the date on which their accounts were opened.
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https://paperspast.natlib.govt.nz/newspapers/BPB19480217.2.6
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Bay of Plenty Beacon, Volume 12, Issue 22, 17 February 1948, Page 2
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164Bonuses On Gratuity Account Withdrawals Bay of Plenty Beacon, Volume 12, Issue 22, 17 February 1948, Page 2
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