SUPERANNUATION.

Dominion, Volume 1, Issue 151, 20 March 1908, Page 5

SUPERANNUATION.

. ~ • THE REGULATIONS GAZETTED. The regulations' mode under and for the purposes of the "Public Service Superannuation Act, 1907, wero signed by His Excellency the Governor on March 14, and ap- , pear in tho current week's Gazette. The following extracts will bo found of interestto tho members of the Service: — THE BOARD. All meetings of the Board shall bo held in Wellington. Ordinary meetings shall bo held quarterly, on the second Tuesday in January, April, July, and October. Special meetings may bo hold at such times as tho Board considers necessary. At all meetings the chairman shall have a deliberative, as well as a casting, vote. The Board shall keep a correct record of tho business transacted at its meetings. _ „| Every member of the Board shall receive notico of the business to be transacted at the ordinary meetings at least one week prior to the date of any such meeting, and a notice concerning the business to' bo transacted at any special meeting at least three days prigr to the holding of such meeting. 1 Mombers of the Board shall not be entitled to or bo paid any remuneration for their services, as members, but shall, whilst travelling on.tho"bu3inoss.of the Board, be entitled to travelling allowance' in accordance with tho ]scala'prescribed by the regulations for tho timo.being in force relating to officers travelling on tho public service. Every member shall bo allowed by tho head of his Department such special leave (exclusive, of any leavo Which ho might otherwise bo entitled to), as.will bo necessary to enable hini to attend all meetings of tho Board. CONTRIBUTIONS TO THE FUND. (1.) Tho. sum to bo paid under subsection (3) of section 10 of the Act by-any person who becomes, a contributor to tho Fund under tho provisions of that subsection shall bo a sum equal \to tho total contributions he would have paid up to. the'date when ho becomes a contributor had ho elected to become a contributor on Juno 30, 1908, plus interest thereon computed at the. rate of five, pounds per centum'per annum compounded in accordance With the Public Trust Office Regulations: Provided that if tho option 13 not exercised on or before June 30, 1909, tho Board may require the person to bo medically examined, and proscribo scch other conditions as may be deemed liccessary before admitting him as' a contributor, arid such person shall bo deemed to be a contributor from June 30, 1908.

In the case of- aiiy such person being entitled under the Civil Service Act, 1866, to rcceivo '• compensation for loss of office there shall, in addition to the sum to bo paid by him under subclause (1) hereof, be paid into the Fund, when the same becomes payable, tho amount of compensation which would otherwise bo payable to such contributor or his representatives for: the period between Juno 30, 1903, and the date when ho becomes.a contributor. ■

AH persons who are first employed on or after January 1, 1908, in permanent positions on probation under agreement that, if *■ their appointment : is made permanent, ; t is to dato from the time of their entering the Service shall 'becomo contributors as from the date of their appointment- on probation. If tho appointment 'is not .made permanent tho contributions will be refunded on tho termination of tho service on probation, but without interest. v In'respect of pti'sons applying to join tho Fund undor scction 10 of tho Act, it shall be tho duty of tho bead of every' Department to satisfy himself that each such person is eligible to join the Fund under Section 10, and that the dato of birth and length of continuous service given in tho application for enrolment are correct, and furnish a certificate to the Secretary to tho Board accordingly, setting forth tho correct particulars in. any case where: these are, incorrectly given. The head of each Department shall sup-' ply, the Secretary to the Board with a statement showing tho annual salary of each contributor in his Department at the' date of joining tho Fund, and shall also adviso tho Secretary to the Board immediately tho salary of a contributor is-altered, giving particulars of alteration, and dato from which it takes effect. It shall bo the duty of tho head of every Department to notify' tho. Secretary .to the Board of each person in his Department who becomes a contributor under ■ section 11 of the Act, giving the following particulars (as to tho correctness of which he shall first satisfy himself) in regard to each such person.— \ : v 1 Full name, data of birth, name of Department, dato of appointment, salary per annum,;'' Whether bachelor;'spinster, husband, wife, widower,- or widow, date of birth of wife '(if living;, date of birth of each child then living and under the age of fourteen years.. In each such caso'it shall bo the. duty of the head of the Department to make tho proper deduction provided for under - section 12 of tho Act,.'and tho Controller and Auditbi'rGeneral shall not pass tho salary of any such officer unless . tho deduction is made. This regulation shall also apply to all payments of salaries in advance. Tho Secretary to the Board shall keep "a .register of contributors, setting forth* in iegard to each contributor: —Registered number, name, Department, date of joining fund, section of Act under which joined, dato of birth, rato of contribution, other benefits to which entitled, remarks'. ' / 'AU payments made to tho Public Trustee to the credit of the Fund on account of contributors' contributions shall be accompanied by a detailed schedulo, signed by tho officer making the payment, and sotting forth in respect of each contributor- concerned tho following particulars:—Registered number, liamo, Department, amount of. contribution. On receipt of any such payment tho Public Trustee Shall forthwith p'laco tbo amount to tho credit of tho Fund, and forward tho schedule, with his receipt for tho total amount indorsed at foot thereof, direct to tho Secretary to. the Board. ■ The Public Trustee shall similarly indorso and forward to the Secretary to tho' Board advices received, with payments under sections 32 and 33 of the Act, and shall also adviso tlio Secretary to tho Board whenever any interest is credited to tlio Fund, and the amount of such interest.

Every contributor whose pay is temporarily stopped owing to ill-health,- or who is on leave of absence without pay, shall (a) Contribute to the Fund monthly so ' long as his pay is stopped at one-third of the rate otherwise payable by liim, - and • thereafter at the ordinary rate of contribution ; or .(b) Ceaso to contribute to tho Fund .while his pay is so stopped, and thereafter contribute. by way of deduction from pay an additional amount .equal to one-third of his ordinary contnbu- " tion for a period as long as that dur-

ing which his pay was so s'topped. The head of a Department shall report to the Board whenever tho salary of a contributor employed in his Department is temporarily stopped on account of ill-health, and again when payment thereof, is rosumed. He shall also similarly report as to a contributor on lcavo of absence without salary.

In each case he shall state under which' paragraph of the preceding regulation the contributor has elected to contribute.

In'tho event of a contributor who has retired ' from tho public service on a retiring allowanco boing re-omployed as provided under subsection (1) or (2) of section 20 of the Act, it shall be the duty of tho head of the Department in which he is re-employed to .immediately report the samo to tho Secretary to tho Board, giving full particulars as to such re-employment (period, remuneration, etc.). It shall bo tho duty of tho Public Trustee to furnish tho Secretary to the Board with a'return of all contributors having moneys placed to their credit under subsections (1) and (2) of section 14 of the Act, sotting forth the namo of the contributor, Department, and amount placed to credit, anu-the Secretary shall duly record the samo. . In addition to the foregoing there are regulations for tho' government of tho election of members of tho Board. Tho Public Trustee is given power to invest the moneys of tho Fund on freehold securities at curront rates of interest, and all expenses incidental to the administration and management of t-ia Fund skill he jjaid out of the Fund.