SUPERANNUATION
A SUGGESTION,
(Per Press Association — Copyright.)
WELLINGTON.November 16.
Payment of a debt 6f £3,000,000 by tbe issue of inscribed stock to provide three. Government' superannuation funds with an assured income, was advocated by the Public Service Association, when registering a protest against the Bill fco-flay, to the Select Committee of the 'House of Representatives. The. statement says. “We submit the only Tight and reasonable step for the existing administration to take, is to immediately pay the present debt by the issue of inscribed 'stock' to that extent, to be allocated to each fund in the proportion to the dteficiency therein. This would provide funds with an assured annual income of £164,250, calculated at four and a- half per cent. Incontrovertably, such a course, we contend, is the only one that can be followed with honour to the State, and its adoption would mean that the State would meet its financial liabilities to the funds to-date. In practice this transaction would involve book entries only, as between, the Government -and the respective funds, the State’s casti. liability being confined to meeting the annual int©rest on ’ the stock issue.
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Hokitika Guardian, 16 November 1932, Page 6
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188SUPERANNUATION Hokitika Guardian, 16 November 1932, Page 6
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