A MODERN SCHEME.

Gisborne Times, Volume XXVI, Issue 239, 12 October 1908, Page 1

A MODERN SCHEME.

NATIONAL PROVIDENT FUND

NEW BILL CIRCULATED

[SrEciAL to “Times,”]

WELLINGTON, Oct. 10.

The Bill draftqd with a view to providing a National Provident Fund was circulated last night. The Bill embodies a scheme for the establishment of a National. Provident Fund, contributors to -which are thereby enabled and encouraged to make provision for old age and' sickness, and for tho maintenance of their widows and orphans. The fund is subsidised and guaranteed by'the- Government in the same' manner as the Public Service (Superannuation Fund. All persons may become contributors who -are resident in New Zealand, who are between 16 -and 45 years of age, and whose incomes do not. exceed £2OO a year. The contributions to the fund are weekly payments, the amount of which depends (1) on the age at which the contributor first joins the fund and (2) on the .amount of the pension for which lie'elects to contribute. Thus, for a pension of 10s a week the weekly payment - varies from 9d at the age of 17 to 4s lid a week at the age of 45. Provisions are made for the .payment of contributions by lump siinis in advance, and for the benefit of contributors who fall into arrears, a contributor may ah any time elect to withdraw from the fund, and is then entitled t 0 ■ a .return of .all his contributions, less any payment ..already received. The benefits secured by contributors are the following: (1) a pension at tho age of 60, varying m amount from 10s per week to 40s per week, according tlio i\itc of contribution; (2) Widows and orphans pensions: if an3 r contributor dies .after lie has been a contributor for not less than 5 years, having children under the age of 14 years, a sum of is 6d a week is payable to'each child. Until the age of 14, and also to the widow so long as she’ has any, child under 'l4 dependent,upon her; (31 Sickness and accident insurance: it any contributor becomes, after five years, incapacitated by sickness or accident for a period of more than three months while he is under the age of 60 years, and has children linden 14 dependent oh,fiiim, he receives an allowance of 7s 6d a week for each of those children during the subsequent perior of his incapacity. As illustration of the -operation of ‘the scheme, a man who joins the fund at .the age of 25 and elects to contribute at the rate of Is 3d a .week, and who subsequently marries and has four children, secures for himself the following benefits: (a) A pension of 10s a week ait- 60 for the rest of his life; (b) An allowance of 30s a week during a period of incapacity exceeding three months, so long as lie is under 60 years of age and his children are under 'l4; (c) An allowance for his wife and children on his death of £1 17s 6d a week so long as his children are under 14; (d) the right at -any time, on giving .12 months notice, to obtain a refund of all his contributions less any benefits already received from the fund. BABY’S LITTLE TROUBLES. Baby’s cough, if not attended to,, often results in croup and other serious troubles. Always keep a bottle of Dr. Sheldon’s New Discovery handy, and be prepared. Every bottle guaranteed. Obtainable at A. W. J. Marin, Chemist, agent..