RAILWAYS SUPERANNUATION

Dominion, Volume 13, Issue 305, 18 September 1920, Page 12

RAILWAYS SUPERANNUATION

POSITION OF THE FUND. "The total amount standing to the credit of the Uovernraent Railways Superannuation Fund at the end of tin financial year was .CtfS.233, nil increase of £M,V£& on the bajinco to tho credit of tho fund on March 31, 1919," says ths Minister of Railways in the annual Kailways Statement. "The gross income foi the year was i19G,G15, mid the outgoing amount Of the latter amount, represents grants to 1117 members of the service who have retire*] voluntarily or have been retired medically unfit, 391 widows and 517 children dependants on deceased contributors to the fund who were members of tho service aj: -tho time of their death. The income from tlie actual contributions of members totalled .£104,13(1, or ,£11,677 less than tho estimated annual liability. The receipts are, however, augmented by a Government subsidy of and amounts received by way of interest on funds, invested and fines, imposed under the regulations. These amounted to .£17,7J59. "The financial position of the fund is such as tp entirely preclude any possibility of its being able to bear any increase in the liabilities already imposed under existing statutes; but, having regard to the disabilities suffered by beneficiaries of the fund owing to the increase in the cost of living, consideration is being given to proposals having for their object the granting of temporary nllowaneesi which will not, however, be a charge against the Superannuation Fund."