SUPERANNUATION.

Dominion, Volume 6, Issue 1863, 24 September 1913, Page 4

SUPERANNUATION.

POSITION 01? THE FUNDS.

STATE CONTRIBUTIONS.

A statement showing tho total amounts paid out of tho Consolidated! Fund into tho different superannuation funds-of tlio .State Departments was laid, upon the-table of tho Houso o( •Representatives yesterday afternoon by*, tho Minister of Financo ttho Hon/ / James Allen). 1 The following aro'tha details given:— . Teachers' superannuation fund: 1903 to 1800, £5000;' 1908 to 1909, £7000; 1909 to 1910, £7000; 1910 to 1911, • £7000; 1911 t0'1912, £7000; 1912 to 1913, £17,000; total, £50,000. , . llailways superannuation fund: 1910: •to 1011, £25,000: 1911 to 1912,1 £25,000; 1912 to 1913, £25,000; 1913 to'. 1914, £25,000; total, £120,000. Public Service: 1907 to 190S, £20,000; 1908 to 1909, £20,000; 1909 to 1910, £20,000; 1910 to 1911, £23,000. Noto.—Tlio Police Provident lfunci was merged in this fund on April 1910: 1911 to 1912, £23,000; 1912 to 1 1913, £48,000; total, £154,000. . The Railways Fund. Tho annual report of tho Government Railways Superannuation Fund Board/' which was tabled l , shoivs that tho superi animation allowances actually paid duM ing tho year ended March' 31 lastfl amounted to £55,408 2s. sd;, represent*/ ing grants to 807 members of tho rail-i way scrvico who liave either voluntarily resigned 1 or beon retired as medically 1 unfit. Allowances amounting to £0483 16s. 2d. were v paid. in. respect to 179 widows and 275 children, dependents' of deceased members of tho service who had not retired on superannuation at tho timo of their death. Payments totalling £731 2s. lid. wero made to: the legal representatives of tho ceased members. Tho" balance 1 to tlio credit of tlio fund l on March 31 was! £264,455 ss. 4d. Tho total annual al4 lowances grafted by tho board up to' tlio end of tlio' year amounted to £50,496 4s. 6d., as follow?:—On account of voluntary retirements, £62,897,; 12s. 4d.; on- account of retirements arf medically unfit, £8657 12s. 2d.; allows, ances to 207 widows and 400 children/ £8941. i' There wero 1187 persons actually oitj tho fund at March 31, involving an> annual liability of £63,803 3s. Id. Tha Teachers' Fund, . The annual report of the Minister ofl 'Education on the Teachers' SuporaiK nuation Fund,' which was also laid on the taible, states that at tho end oi? 1912 tlio number of contributors was 3641. T'ho annual rate of contribution paid as at tho end of the year was over £40,000.' Tho number of allowances force at the ciul.of tho'year was 376, representing ail annual dharge of £23,635. This hitter sum is made up! as follows Ordinary retiring' allowances (240), £19,332; retiring allow--ances in medically .unfit cases (39) t £2769; allowances to widows (52), £949; allowances to children (45), £585. The balance at the credit of tlio fund and invested by tlio Public Trustco at l "the end of the year was £212,174.