SOCIAL INSURANCE

Dominion, Volume 10, Issue 2907, 20 October 1916, Page 6

SOCIAL INSURANCE

ANNUITIES AND BABY BONUS

SCHEME IN DETAIL

REGULATIONS GAZETTED

: Regulations arc gazetted to givo effect to tho Social Insurance Scction of tho Finance Act qf last session. This part of tho Act made certain concessions to friendly societies, by providing for the payment of maternity bonuses, and for tho establishment of a pension or annuity schemo by arrangement between the societies and tho National Provident Fund. ; Tho regulations empower a society to pay maternity bonuses to the wifo of a member, or to a mother who, being a- married woman, .is herself a member. There arc certhin forms prescribed on which application is to bo made, but tho society may pay if the claim has been made in proper order, and then recover from the National Provident Fund the amount paid. The bonus allowed under the Act is £4. A declaration must be made by every applicant for a bonus that the joint income of husband and wifo during the year preceding the birth of tho child did not exceed £200.

In accordanco with tbo scheme »s pronosed in the Finance Act, friendly societies are permitted to make contributions to the National Provident Fund 011 behalf of their members, and fo collect contributions in turn from' the members who wish to become entitled to benefits under the National Provident Fund. The subscriptions re-ceived-by, societies on behalf of members must be accounted for by the society to the Superintendent of the National Provident Fund. The. regulations covering details of the scheme run as follow:— ' As regards any member who joined the society before January 1, 1917, and whoso age exceeds forf/v-fivo years, but does pot exceed fifty-five years, an approved friendly, society may, within twelve, months after that date, elect to contribute on behalf of that member at tho followinc rates: — Weekly Contribution required ■ ■' secure at Sixty Years ? c g §. of Age a Pension ■S-Mtd ' Per Week of

An approved friendly society may, within twelve months after January 1,

1917,' elect to contribute on behalf of any member .who joined tho society before January 1, 1917, notwithstanding

that the income of that member would prevent him becoming a contributor to

the'fund under tho National Provident Fund Act, 1910. The amount to bo paid over by such society in respect of a member becoming entitled to the pension shall bo such sum as the actuary of friendly societies reports upon actuarial-com-putation to be tlio equivalent of a sickness allowance of £1 per week cfuring tho first six months' sickness, 10s. per week during the socond sis months' sickness and ss,.per week during tho remainder of his sickness, and which in his opinion could be paid by such society t\ itliout loss; and, in consideration of such payment, the society shall accordingly be relieved from liability' to that extent from the timo of such, member hecoming entitled to the pension.

Any society or branch which pays higher sickness allowances. than herein mentioned may provide in its rules for the payment during sickness of an al-

lowance representing the difference be-

tween such higher rates and the values relinquished as provided herein, or provide for the commutation of such difference into an equivalent sickness allowance or a reduction of contributions, or both, as may be certified by the actuary for friendly societies.

The society shall each month adviso "the superintendent of the death, withdrawal, lapse, or transfer of any of its members on behalf of whom contri-

butions are made to the fund. On receipt of such notice any 'return of contributions duo from the fund shall be paid through the society to the member or his representatives.

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