SUPERANNUATION FUND.
MINISTER OF EDUCATION EXPLAINS. WELLINGTON, Aug. 11. Replying to criticism, when presenting the annual report of the teachers’ superannuation fund in the House of Representatives to-day, the Minister of Education said he agreed that teachers who joined the service 40 years ago were suffering an injustice through not beings able to compute for superannuation purposes the two years spent in training. It would, however, require a very largely increased financial contribution from the State to meet this position. The present state of tho fund was that the teachers’ contributions amounted to £96,409, the interest on the accumulated funds £35,000, and the Government subsidy £43,000, a total of £174,409. The actuary’s report was that the fund, which was strengthened some years ago, needed further strengthening now to the extent of £25,000 yearly.
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https://paperspast.natlib.govt.nz/newspapers/MH19220815.2.35
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Manawatu Herald, Volume XLIV, Issue 2467, 15 August 1922, Page 4
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133SUPERANNUATION FUND. Manawatu Herald, Volume XLIV, Issue 2467, 15 August 1922, Page 4
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