SUPERANNUATION PAYMENTS.

Hokitika Guardian, 13 March 1925, Page 4

SUPERANNUATION PAYMENTS.

limitation of amount SUGGESTED. DUNEDIN, March 11. At the meeting of the Otago Provincial Executive of the New Zealand Farmers’ Union yesterday, the following remits from the Milton branch came up-for discussion:— (1) That the executive take, steps to bring pressure to bear on the Government with a View to having Government superannuation limited to £2OO, or, in the alternative, to having it based on the average earnings over the whole of the annuitants service, and not on the wages being earned on retirement.

(2) That, in view of the large sum the 'Government has had to pay into the superranuation funds, the executive he asked to approach the Chamber of Commerce with a view to having the funds placed on a more satisfactory basis.

Mr Reid (the representative of the Milton branch on the executive) said this was a matter of trying t.c> reduce taxation. At present the Government had to pay nearly £500.000 into three superannuation funds —teachers’, civil servants and railways. The chief cause of the increase was the rise in wages in recent years. There were li!) retired Civil Servants who were receiving £987. two were receiving £831), one £BOS, one £7OO and six £OOO each. Tremendous sums like that seemed to he out of ail proportion to the scheme. One man had retired from the railway service on an allowance of £BO3, and two at £OOO. Last year the. Government paid £200,500 in subsidies to the Civil Service Superannuation Fund, and its subsidies to the Railway Department amounted to £193.000, making a total of £393,500 to the two branches, whereas is started out to pay £lll,OOO. The teachers’ fund was on a much better basis than the other two. The income from the teachers’ fund was £211,190, and the expenditure was £135.103. leaving a credit balance ol £79,027. The Government provided only £03,833, and the fund came out with a balance of £79,027, leaving a credit of £15,19-1, after allowing for the Government subsidy. Mr Reid went on to refer to the question of widows’ pensions. lie said that a widow received only £l9 plus an allowance of £l3 for every child. His branch recommended that the amount should he increased. Mr Christie expressed his hearty agreement with most of the remit. Mr Murney said he was very much in favour of the remit, hut he thought it was a matter for the Dominion Conference. It was a very important matter. The Minister of Pensions (the Hon ft. ,J. Anderson) had promised to bring in a universal pension or superannuation scheme. __ Clause 1 of the remit was held over till next meeting, and the proposal in 'Clause 2 to approach the Chamber of Commerce agreed to.