SUPERANNUATION BOARD

Dominion, Volume 7, Issue 2150, 16 May 1914, Page 13

SUPERANNUATION BOARD

QTJARTEItLY MEETING,

The quarterly jaeoting of the Public Service Superannuation .Board was aelri at the board-rooni. on Thursday. Ihe members presort wef-e: — r tte Hon., BD. Bell, K.C. (elißinaap), , Messrs. Allport, Bishop, Blow, 1.5.0.. Combs, Ellison, Hugguis, MaodoHald, nild Bi«n* ardson. The secretary announced, the eleetlon of Messrs. Combs mi Macdonafd fis new members of the board, A letter was received from a ee&tnbutor suggesting that powsf should bo j given to the board to invest a portion | of the accumulated fund in tlw pwr-i chase of house properties occupied 6y contributors earning £200 or less per annum, repayment to be. made by instalments. It TVas Tosolved that "the board could not- agrfia to'the proposal. It was resolved to recommend the Government to amend the Act so as to allow contributors who may leave tho sen'ico and afterivarfs-re-entcr to a (raw contribute to the fund, as the law does not permit this to bo done at present. It was resolved to recommend . the Government to amend tie Act so that allowances in ilie natwe of permanent remuneration erald be ijicliwled as salary for superannuation purposes. A committee consisting of Messrs, Allport, Hnggius, Alacdonald, and Richardson was" set tip to consider any amondmnnts of the Act or new legislation which may bo proposed during the coming session, nnd to confer with the Government and the Government Actuary thereon. Superintendent Ellison was appointed a member of the Claims Committed. A committeo consisting of Messrs. Allport, Campbell, Huggins,' and Richardson was appointed to prepare the annual report to Parliament. On the motion of tho chairman of the Claims Committee (Mr. Allpart), retiring allowances wore granted to IS contributors by reason of age and length ■ of servicoj amounting to £2436 IDs. per annum: to one 'contributor retired as medically unfit, for tho amount of £134 Ds. per annum; and to nino aiitj' six children for a total of £2fO per annum. The average allowanco griWtwL oxcluding widows and children, is £133 ss. Bd. per ann-um, TIkS atnmmt of accrued.comTienstttiwi duo to officers retirrvd is £5400 7s. 3d. Tho question of β-malgomation with the' Teachers' SupofAMiu-atien Pun<} in tho investment of the. surplus revenue wns : i-e'ferred'.'fo the Committee.

Tho secretary reporfwl ftftfc tlie amount to the ercclit of tho .fimd in tlw hands of thr Public. Trtstoo «n < April SO was £(30-4,372, aii inoro.iwa' during tho preceding year of £116,865.