TEACHERS' PENSIONS.

Nelson Evening Mail, Volume XV, Issue 148, 22 June 1880, Page 4

TEACHERS' PENSIONS.

A Bill (says the N.Z. Tsmes) has been prepared to establish a fund for providing pensions and gratuities for teßcberc in New. Zealand, and copieß have been privately circulated, presumably to obtain an expression of opinion on its merits before any fflfort is made to advance it on its Parliamentary etages. > The following extracts show the scope . and intent of the proposed measure :- — 3. There shall be established a fund for making provision for teachers who naay from time to time become inenpa-

oituted from, performing their,duties,, by reason 6( old sgp, ill health, or bjodily injury, and such fund ejiall be called The Teachers* Pension Fond. ' 4. A deduction r>f £6 per centum shall be mode from the pay of all teachers from nnd after the Ist day of January, 1881, aod (he moneye from lime to time accruing from Buch deductions shall, (opether with all floes and penalties which may be imposed upon teachers, end the whole of ths moneys which, under section 5 of this Act are pnyahls out of the Consolidated Fund, ami a'so together with the in'erpst accruing from tta inveelment of tn j receipts of the fuud be paid into some bank appointed by (he Boord to the credit cf an accouut to be called The Teachers' Pension Account. ; and the said account fhall be operated upon by means of cheques signed by the actuary and by surh one or more members o( the Board as the Board may from time to lime authorise to sign el>rques. 5. la order to n je^t Ihe liability brought up'n (he fund by pensions granted on account of services performed before «he passing of this Acf, and to promote the solveucy of the fund, there shall be paid out of the funds of each Education Board on the Ist day of Januory, 1881, and yearly thereafter, to the credit of The Teachers' Pension Account, a sum equiva- j lent to 2\ per centum on the pay of the' teachers employed by each Education Board respectfully ; and whenever any Education Board shall be in receipt of income derived from Ins or other property v.-sted in the School Commissioners undor the Education Roserves Act, 1877, eufficient to pay the sura nbovementioued,'such suth shall be a first charge against Such income. G. Any teacher who shall have attained the a£e of 65 years may retire from the serve 1, or m\y be superannuated, provided he shall hnveserved not less than 15 years, an 1 the said feicher sha'l be entitled to receive a pension on the following scale (that is to say): For each year of service not less than 15, and no!; exceeding 40, oae-aixtieth of the average rate of pay during the lust three years of such service for each full year of service* 7. When a teacher shall have served for 15 years, and shall have become unable to perform his duties any longer, either from mental or bodily incapacity, provided such incapacity obhll not be tha result of irreguiuf or intemporate habits, such teacher sball receive such pension as he would have become en* titled to if he bnd attained the ege oi 6,5 years; and such pension Bhall only be granted on the certificate of a medical examiner that the teacher is unfit for duty. 8. If a teacher be compelled to retire on account of bodily or mental inctpaciiy, not reeulting fiom irreguW oc intemperate habits, before be thall bave seived 15 years, sunh teacher shall receive a gratuity of ono month's pay for each year of feeivice, not exceeding 12 momhs* pay in all, sutj»ct to the ctrnficate of a medical examiner that the teacher is unfit for duty. 9. All pensions granted under Bection 7 of this Act s!;all be subject to be \ revised and reconsidered, and liable to be revoked or ahered by the Board, subject to regulations to be made under \ this Act. 10. If the Board after full inquiry shall be of opinion that the conduct of any teacher by whom or on whose behalf an application for peneion or gratuity under this Act shall be made, has been bad or indifferent during his service, the Board may reduce the pension or gratuity, provided that such reduction shall not exceed one-third of the pension or gratuity, provided by this •Act. 11. Nothing in this Act contained shall prevenj any teacher from being cismißßed or.discharged for misconduct or other sufficient Cause, without penBion or gratuity, provided that he shall be allowed, if he shall have served 15 years, to appeal from such decision to the local Resident Magistrate ; or prevent flnyj^|ducation Board from dispensing with';tbe services of a teacher in consequence of necessary reductions in its staff,"'provided, such teacher shall, as compensation for abolition of bis office, receive out of the funds of such Education Board one month's pay for each year of service, 12. Affer the passing of the Aot no person shall be permitted to enter the service wbese age shall exceed 25 years at his last birthday, and who shall not produce a certificate signed by a medical examiner that he is sound in bodily and mental health. Provided that whenever it is expedient to secure the services of.some person of known ability exceeding the said . age of 25 years, any Education Board may appoint such person ; but he shall only be entitled to such reduced benefit from the fund as the Board may determine. Provided, further, that aucb or

any Education Board on behalf of such pisrs^ri, rnoy sfciire "ihe full benefit provi fed by!tb^ Act on raying, to the fund euch extra contribution sb the ac'uoiy may determine to be necessary. The management of the funds will be vested in tho Secretary, to the Education Department, (he Public, Trustee, the Government Insurance Commissioner, and the chief meacal officer uoler tho .Government Insurance and Annuities Act, such persons to ba called The Teachers' Pensions Board. No pensiou grnoted under the Act shall be assigned or in any way alienated from the grantee, or be subject to any law relating to bankiuptcy. The moneys of the pension fund will be invested either ia New Zetland Go : vemment securities or in such other securities as the Governor-in-Council may direct} the accounts 'ire to benudit:<2 by the Controller and Auditor-G-enrfalj aod an annual report prepared »ud h copy thereof furnished to each t a^er. At the tni of every fifth year an actuarial investigation will be made " for the purpose of ascertaining whether the capital realised, with thevalue of the expectant future payments, be Bufucieotj or more or less than sufficieLt, for the payment of the pensions charged upon the fund and of such pensioos as may be expected to become obargeable thereon, together with the necessary expenses of manage-, tcent.'* If it sh til Bppesr from any such quit qi-uuial iuvesii aun that the fuuJ is insuill '.iaut, it is provided that the Board shall have power to iucrearg the contributions nqiired of the teachers Juader auction 4; ttnd if it shall appear at any t ; mo afier the second qaicqueDnial investigation shall have been made that the fund is more than eufficient, the

Board shall^haverpovfei; to reflace the cjontributidrjCTequired under- BectJion 4, provided that no , alteration Bhall^.be madoib the contributioiis withoutv the recomuiendation of Jbeactuary aDd the approval of; the- GovernbiwrjACouncil.' Ihe Boar^ is; further authorised, from time to time to make) amend, alter^ and revoke regulations for the general management and administration of the fund, subject to the approval of the Governor- in- Council. l"be proposed measure shall hate the serious attention of every schoolteacher in the service throughout the colony. The intention is to make it compulsory on them to subscribe, out of their, stipends,: J.towafds a fund, for the relief of their scholastic brethren and & provision for themselves in old age, or in sudden infirmity. The question for debate will be> whether the advantages assured and contingent will bear, under present proposals,' a just proportion to the annual levy made, or whether the investment of the same money in other channels would, not"produce better results. . Tbisiis a problem which may be well left to the scholastic profession to work out, from the standpoint of each individuals length of service and future prospects. .