PROVIDENT FUND
PREFERABLE TO PENSION Daily Times Special Service WELILNGTON. Dec. 4. The creation of a provident fund instead of a pensions scheme to enable former members of Parliament “to rehabilitate themselves as taxpayers” was suggested by the president of the Wellington Chamber of Commerce, Mr Gordon Stewart, at this week’s meeting. Under the provident fund, the amount payable to each member on retiring, either voluntarily or involuntarily, from political life would be determined by the number of years he had been in Parliament, he said. He did not oppose superannuation schemes properly financed by employers and employees, but in tjie Superannuation Act there was no actuarial basis fof the politicians’ scheme. Some politicians who had been members for 15 years could secure up to £9OOO each for a payment of £250. An independent commission should have been appointed to inquire into the proposal and . bring down a report, which could have been submitted to the electors. < .
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https://paperspast.natlib.govt.nz/newspapers/ODT19471205.2.27.3
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Otago Daily Times, Issue 26636, 5 December 1947, Page 4
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157PROVIDENT FUND Otago Daily Times, Issue 26636, 5 December 1947, Page 4
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