SUPERANN FUNDS

Hokitika Guardian, 16 September 1933, Page 5

SUPERANN FUNDS

UNDER REVIEW STATEMENT Br ! MR : COATES. (Per Press AssdcktibhL-Copyright). WELLINGTON, September 15. An important?., statement in cgimeo tiem with the Government Superannuation Funds Bill was made by Mr Coates to-night. This Bill r was the subject of voluminous and conflicting evidence before a Parlainehtary; select committee last session, and, as a result, .the committee recommended'that the Bill be hot proceeded 1 with during that session.' . '. .•

Mr Coates said . that-a • comprehensive- statement 'of : the,; jpoiitioii /into; which ■ these funds havepsiufie moved I .was at present receiving.; -the* dlose attention , of thq Government. “The situation,” he' said,' “has caused anxiety. In: view'of thp fact that the members of service : havd contributed over eight 'millions' sterling, or twice as much as tlie State," to the; funds, tbo. Government' haS a sincere desire to meet its - reasonable liabilities, and to keep faith with its servants. to . the greatest extent- possible.” Neverthless, he went 6u, :; it appeared' to be clear that the public servants themselves should ho acquainted 'with the present portion,' which may require that they accept- some modification of tlie existing and the prospective benefits. 'Prompt action was necessary, and to accelerate progress; Mr Ooates said, it hftd been decided to invite two representatives’ of; -each of the service organisations affected to confer, with representatives of the Government with the object-of. securing -their views,iand, if possible, -of } reaching .an - agreement upon some concrete* ;proposals : '.which would lead to. results, and • would be satisfactory to-all- parties,-in;.the, light of the necessity.- of'placing the superannuation funds :;oa--;avperipaH|ntly sound financial .basis.' ■ A