SUFERANNUATION

Hokitika Guardian, 16 October 1933, Page 6

SUFERANNUATION

RAILWAY EMPLOYEES’ FUND.

(Per Press lssociution — Copyright j

WELLINGTON, October TO

At a special meeting of flic executive committee of tbe Railawy Superannuilants Association 'held; last Thursday, i t wa s smil'd that a careful examination of the fund disclosed there was no actual deficiency. It is true a ccrta n.iiuln had been taken front the reserve account, but this money was w allied to pay allowances incurred by the very large number of early retire-i, inents. There had thus been thrown on tlio fund ait immediate, heavy liability, which under normal retirements would not have .oeburre'd for sotae. years, in was thought the ' financial position of the iund ./would,, however, improve each year, as there should be comparatively lew retirements in the next five years, or perhaps longer. The 'committee was of the opinion that the loading of the funds with allowances,-: due to- these tdarly retirements .epuldLnot.Che justified on any grounds,, and to interview the Minister of Finance.'on the matter. .

Two trustees were .appointed .to administer the legal defence fund now be-

ing raised.- ' Reports front branches indicated that subscrintions'to this fund were coming

in freely