RAILWAY SUPERANNUATION.

Manawatu Herald, Volume XLVI, Issue 2736, 22 May 1924, Page 2

RAILWAY SUPERANNUATION.

MB JIUHHAND REPLIED TO.

Wellington, Last Night. A "Times” representative subnutted to the Railway Department to-day the reported statement by Mr 11. E. Holland, ALP., at Westport mat superannuation was in reality an insurance fund provision made lor uid age, the premiums of which were honestly paid in by the workers concerned, i’o deprive the men of such a beueht represents a method that no insurance office whether mutual or privately-owned, would think of adopting. "Superannuation is not the same as ordinary insurance at all,” he was informed. "‘lhe superannuation fund was established by the Government and is subsidised and guaranteed by the Government, and tiie employees of the Radway Department join tiie fund under deunite conditions laid down by the Liuveriiment in the Railways Act, and contribute to the fund so long as liiey remain in the service. It is only an insurance for tiiem so long ns Uie.y nne in tile service, being limited to men employed in the Department and if tney determine Liieir connection vvitu the Department or are dismissed they are entitled to receive back what they nave paid into the fund, while if they continue with the Department until noy roach the superannuation age nmiL tney receive their pension Horn me fund. If any men were dismissal or lost their superannuation ngnis Lino ugh the ANJiN., hereafter joining the Alliance of Labour’ or any other outside Labour organisation they would,' the informant presumed; “be entitled and would be .paid buck the amounts that they ,hud paid into the fund.”