UNPOPULAR LEGISLATION

Opotiki News, Volume I, Issue 45, 17 June 1938, Page 1

UNPOPULAR LEGISLATION

THRIFT HOT ENCOURAGED ORGANISER’S OPINION The opinion that compulsory unionism and the superannuation proposals in their present form would be sufficient to turn the Government out of office at the general election was expressed by Mr Justin M. Power, sec-retary-organiser of the Wellington division of the National Party, in an address at Akatarawa, recently.

The Prime Minister had stated •that the superannuation scheme waw tor the: benefit of all citizens, said MiPower. It had turned out to be nothing more nor less than an extension of the old-age pension scheme, to which all contributed, but only the few, reaped the reward. It jva s a further encouragement to the thriftless, and was designed to help, shirker and not the worker. .

It had, however, succeeded in turning the votes of all sustenance men away from the Socialist Party to thq National Party, because they strongly resented paying into the fund, until they were 6U'. to be rewarded by only a further 7s (id a week cm-top. of what they were drawing, to-dav7 , -

The speaker mentioned the. case of® 1 a young man of 21 years of age paying into the fund until lie was 6(1. on an average salary of £6 *a week. Compounded at 4 per cent., his total payment would reach about £I2OO, and the contributor would have to live «n-.. til the age of 80 to receive his money" back—based on the full 60s a week. .However, as lie would be entitled to ■ 22s'*6d in any case be would, benefit to the extent of 7s 6d a week, and would have to live until the age of 105 to get liis money back. . As only 10 per cent of the people in' New Zealand lived to the age of 60, the 'odds were stacked against him drawing' ■anything at all.