SUPERANNTATION FUNDS.

Hokitika Guardian, 8 July 1924, Page 4

SUPERANNTATION FUNDS.

(To the Editor). Sir.—The other day the Prime Minister stated that lie understood a further £170.000 would be required from the public pur.se this year to reinforce the Hnilwov Superannuation Fund. Of course lie will hand over the easli and the unhappy taxpayer’s chance of obtaining some relief from the grievous louden he is hearing will be correspondingly reduced. AA’bat arc our politicians going to do about the matter? ;

The public is carrying three of these superannuation Ponds on its isaillv grilled hack, the Public Service Soporanimation Fund. and tbe Teachers’ Superannuation 'Fund being in just tbe same position its is the Hail way Supoinnnuathm Fund. Tbe demands of all three of them for assistance are growing in volume and in intensity as their subscriber?! im ivase in numbers. l"p to March 31st, 1023. as far as I <an make out from the available figures, the Public Service Fund had boon, bolstered up by £032,300 from tbe public purse, the Teachers’ For.d by £335,583 and tbe Hailwav Fund by £330,000. a total of £1,810,083. AYns this policy of spoon-feeding contemplated when the Funds were instituted? 1 remember nothing of the kind mylself, and 1 have been following parliamentary proceedings fairly closely for thirty odd years. But whatever may have been the blunders of previous Parlimneiils the duty of the present Parliament is to see that justice is done to the public as well as to its servants.

Public servants have a more of advantages over private employees which no ono grudges them. But adding to these a substantial subsidy every year is carrying the role of the ideal employer it little 100 far, particularly when the employer happens to bo v.urso off than are bis employees. They are paid at least a> veil as other workers in .similar positions are paid, and they have the assuramo of continuous employment under lavonralje conditions. More thpn this, it would lie ia their own ultimate advantage to have their superannuation funds made actuarially sound—as they certainly a:e not at the present time- and to be freed themselves from dependence upon the annual doles from Parliament, which should not be required and plainly arc not justified. ( hope that w lien this matter comes up in the House this session, as it must for the Minister of Finance to secure bis appropriations. Air Massey will be able to announce that henceforth these superannuation funds will lie self-supporting.—T am etc.. PHIYATK. KMPI.OYEE. AA'ellingtpn, July 3rd., 102-1.