LEGISLATIVE COUNCIL.

Stratford Evening Post, Volume XXXIV, Issue 30, 28 September 1912, Page 5

LEGISLATIVE COUNCIL.

(Per Press Association.) Wellington, September 27. The Council met at 2.30. Local Belies Superannuation Bill. Mr. Jenlunson resumed tlie debate on tne second reading of cue .Local Authorities ouperannuaiion bnl, wbizh ne said local autnoHtnis desired, and nu saw no reason ivhy it s.iouid not go, Drirougii with a tew amenaii;en.s..j 'these he proceeded to indicate, uno objectionable feature of tne liiil was., that upon an employee eiecung toj retire lie could claim only the immey paid in, less interest, wnoreas under: me Public Service Superannuation; Act the money paid by a wiumrawing) contributor was refunded wibii compound' interest. He thought Uiis pdl should make similar provision. ide suggested that local authorities should be asked to contribute so inucn of, ciieir funds to a national provident fund. Where was all the machineryj for providing pensions for tneir work-! erjsr" That course would do away with.' the necessity of small bodies amalgamating, and increase the benefits ofj participants. The system should oc entirely altered, and retiring based, "on the average salary receivedduring tlie period oi service, and notupon the salary at the end ci me tia.e.! by the present methods, - fortunate in-; dividuals received.'an excessive allow-j ance, which was borne by the man re-, ceivmg 8s or Us a day, which was: entirely wrong. He further urged that as the money paid by civil servants into the fund was their own, a.-con-tributor should be" allowed to borrow money ho had paid in, at any time utter, lie had paid for a certain number ( of years. Mr. Parr agreed thai the scheme should bo altered and extended, so as to practically become a universal system. Tho Bill would not induce municipal bodies to take up a superannuation scheme. There should be a maximum retiring allowance, say of L"2M. or £3OO a year, and no allowance, should be made for years where thorei was no contribution. .

Mr. IJigj? supported the. Bill, because! ho approved of its principles. Mr Boll; in his reply, stated that Mi,3| position of a person on the public slip-, eraniination fund was that lie was en-jj titled, when he retired, to either his; annual allowance or the money lie Had paid in.. If he chose the latter coiirce he got his money, and no interest!.if; he was compulsed ly retired, after, twenty years, he got his monov back, with simple, interest. I j The Bill was read a second time. Land and Income Assessment. The, Land and Income Assessment. Bill was put through its final stages, and the Council rose. ■ j