POLICE PROVIDENT FUND

Gisborne Times, Volume XXIV, Issue 1917, 29 October 1906, Page 2

POLICE PROVIDENT FUND

ACTUARIAL EXAMINATIONS.

■W"—N ‘ A HUGE DEFICIENCY.

(Special to Times) 3 Wellington, last nighf, Mr Morris Fox, tbe oapable and well, known aotewry to the Government In. eurance Department, has submitted a report on tho Polioe Provident Fund to show—(l) the state of the fund at the close of the period, and its expectant state at the close of next ensuing triennial period having reference to the prospective receipts and charges dnriDg suoh period, The net results of the valuation are summarissd in a vslaa'ion balance sheet Tbn valuation ia required to determine whether the accumulated fund of L 271 221 is sufficient together with future reoeipts from interest aod from members’ contri* buiions to discharge various claims as they arise as far as existing members are con* oerned.

The balance sheet prepared shows that r9 B ii°Z“ Ula u ea fu ’: d * Bbou,d amount to D 241 289 to be Bufhoient for fch« purpose liSS’ thUS BhoWins a defi o»enoy of

i p T ts ont —O) the aooumnand funds will stnl continue to increase S" •i V WO ° r * hree yeara longer. They will then attain their maximum, and afterwords will diminish year by year in an increasing ratio until ihey osase *•» exist. The actuarial dtfioienoy will oera.Dly be found to have increased when ‘he Dext valuation oomes to be made three years beuoe, ;