THE RAILWAY SUPERANNUATION SCHEME.

Taranaki Daily News, Volume XXXXV, Issue 166, 17 July 1903, Page 4

THE RAILWAY SUPERANNUATION SCHEME.

Ah. but seventy-two of the employees of the Government railway service have become contributors to the railway superannuation scheme. The report and balance-sheet for the three months which ended on 31st March, 1903, were laid before Parliament yesterday. The Act became operative on the let January last, and up till 31st March no fewer than 3586 of the employees, representing 57 per cent, of the whole - permanent staff, had joined ths fund. The report states:—" The Board is of opinion that this is most creditable to the service, and that it augurs well for the success of the fund." Sinco that time practically tho whole of the mem • bers of the permanent staff have become contributors to the fund. Payments from the fund commenced on the 30: h April, 1903. The balancesheet showed that the receipts amount to .£7075 8s 3d, comprising £3606 7s 9cl transferred from the Railway Servants' Fines Fund, £3433 5s id con tcibutions from subscribers to the fund, and £35 15a 5d interest; the disbursements were £lB 16s 61, leaving a balance of £7056 lis 9d to the credit of the fund. " The condition of the fund," says the report, " is highly satisfactory, and the Board has every confidence as to its stability and future prosperity."