TRAMWAY EMPLOYEES.

Press, Volume XLIX, Issue 14844, 9 December 1913, Page 2

TRAMWAY EMPLOYEES.

PROPOSED SUPERANNUATION s FUXD. Mr J. A. Flesher, chairman of the Tramway Board, made a statement at yesterday's meeting on the subject of providing a superannuation fund for the Board's staff. In July, 1911, Mr Flesher said, the question of, a superannuation scheme for the Board's staff was referred to Mr Leslie, an actuary, who was asked to report as to what contribution would bo necessary on the Board's part in the event of a Aiperannuation fund being established under the provisions of the Local Authorities Superannuation Act. 1908. Mr Leslie, in his • report, stated that a sum of not less •J than £30,000 would be necessary to ■ put the fund on a satisfactory financial basis. As alternatives, ho 'suggested ; that the Board could give a £1 for £1 ' subsidy on all contributions made by members. At that time, Mr Flesher explained, the. salaries paid by the . Board amounted to over £33,000 per • annum. Instead of tho suggested subj sidy, Mr Leslie pointed otit that the Board could contribute £2384, equal to (51 per cent., or Is 4d in the £1 on the total wages paid, and this contriI bution would be equal to the contribuI tions of the employees. Last year. Mr t Flesher continued, Mr Ell," M.P., brought a Bill before Parliament which, if passed, have made it possible I for local authorities and employees to enter into an agreement with the Board !of the National Provident Fund, under j. which the local bodies and the emI ployces would have been aule to avail themselves of the National Provident Fund Act. under which the State subsidised contributions to the extent of 25 per cent. If such legislative machincrv were provided and it were allowable for local bodies to enter into an agreement of the character inufcated, the Tramway Board's position in regard to the proposed. superannuation scheme would be very greatly improved. Mr Flesher added that he did not propose to go into the matter at the present, hut at next meeting he would asked that a committee should be set up to go into the subject and Toport to the Board.