SUPERANNUATION.

Dominion, Volume 7, Issue 1880, 14 October 1913, Page 4

SUPERANNUATION.

THE PUBLIC SERVICE FUND. Tho quarterly mooting of tho Publio Service Superannuation Board was held at tho board room last week. Retiring allowances totalling £8847 •14s. por annum were granted to 44 contributors by reason of age or length of sorvico; 4 contributoi s retired as medically unfit wero granted allowaucos aggregating £167 4s. per annum, and 12 widows with 11 children were granted the statutory allowances of £18 and £18 per annum respectively. The average annual allowance granted, excluding widows and children, is £79 9s. 6d: Accrued compensation amounting to £6033 13s. 9d., which would otherwise! bo payable out of tho Consolidated; rund in respect of tho above retire-! ments, now becomes a liability of tho superannuation Fund, and merges in pension rights. It was reported that an ofiicer of thai Post aud Telegraph Department, who! has been in receipt of a retiring allow-1 auco as medically unfit, has so far re--' coverod his health as to bo reinstated, !. An officer of the Public Trust Department, who is in receipt of a retiring allowance as medically unlit, and is now sufficiently recovered to undertake outsido duties, will be offered a suitable position, and will therefore cease to be a charge upon tho fund. The enso of an ofiicer of tho Defence Department, whom it is proposed to retire as medically. unfit, was reconsidered, and it 'was decided to grant him thd ullowanco to which ho is entitled under • tho Act. It was reported' that tho amount to! the credit of the fund in tho hands of! the Public Trustoo on September 30 lastwas £505,511 ss. Id., not including interest accrued since March 31 last.