COST OF PENSIONS.

Press, Volume LXVII, Issue 20181, 9 March 1931, Page 16

COST OF PENSIONS.

TO TUB EDITO* Of. TU* PRESS. , Sir,—lt is to be hoped that some of New Zealand's politicians bave and pondered ever the statement made reoently by the Commonwealth Audiin his annual report to pointing out the enormous burden inflicted upon the taxpayer? of Australia by an over-generous system of all kinds of pensions, and urging a thorough revision of the matter. > It can be said that this boot is on New Zealand's right foot also, as the amounts paid out in pensions in this country ..js assuming alarming figures and would be - further increased .if some of our aspiring politicians had their way. What is wanted is .a com* ptilsory scheme of superannuation for aU adult wage-earners, as obtains in. all well-managed business houses, local bodies, the Public, Service, etc., where .the r employees compulsorily put by as much as' five per cent.'of their earuin§s for the'rainy day. , Unfortunately, we all 'grow old and none have any guarantee tbat;infirmity will not overtake us; but.it musti be said that in thid country the epbnd- j thrift,' by not making -provision for these two contingencies, is getting: a. full . share of-the taxpayer? .money, and more. —Yours, etc., . , FIVE PER CENT, 1 March. 6th. 1981.