Value of Combined Effort

Rotorua Morning Post, Volume 3, Issue 682, 7 November 1933, Page 6

Value of Combined Effort

"The value of combined effort by persons who individually could have done nothing on the same lines, is shown in the figures in connection with railwaymqn's superannuation," said ,an ex-railwayman to the "Post." "The fact that 93 per cent. of the superannuitants draw under £300 per nnnum, only 2 per cent. receive allowance exceeding £500 per annum. and less than 1 per cent. draw allowances of over £600 per annum, shows that the superannuation scheme is distinctly a community effort. Since the fund was established in 1903, the life allowances to annuitants paid out to date total £3,757,677, a figure that emphasises the effect of pooling savings over a number of years, as regards the participants. The country, on the other hand, has assured the content of a large section oi the community, who are- comfortably selfmaintained, and it saves old age pensions and large sums by way of compassionate grants. It w,as th'e fact that the Government found the payments of compassionate grants so large which formed one of the factors inducing it to start the existing scheme. The widows of deeeased contributors are now paid a small allowance during their widowhood, and their children small allowances until they reaeh the age of 14. Under these headings alone £390,800 has already been p.aid out."