CIVIL SERVICE SUPERANNUATION.

Taranaki Daily News, Volume LI, Issue 245, 9 October 1908, Page 4

CIVIL SERVICE SUPERANNUATION.

KILL -BERUiE THE HOUSE. By "Iciegraph.—Press Association. I Wellington, October 8. ' At au early hour this morning, in ! the House of Keprescntatives, the Pro-; mier moved tlic second reading of the Public Service Classification and Superannuation Hill, to make amendments to 1 the Public Service, Teachers and Police Superannuation Acts. The Minister requested that the clauses referring-to the police should be struck out. It was impracticable to include the teachers in the same scheme. An annual subsidy of £7OOO was provided for, corresponding to the subsi'lv of .€20,000 provided for by the Act of 1007. Various amendments were introduced in the Bill, mainly to obviate abuses. Clause 57 gave power to the Hoard to determine the rate of the contribution payable by a contributor reappointed to the service. The clauses relating to broken time were struck out. Mr. W. Frascr considered the (lovernment's contribution would reach over CIiIMHM) in twenty years. Mr. Massey said this was the variety of Bill the (Jovernment brought down in i the dying hours of the session, resulting in hasty and ill-considered legislation. Sir Joseph Ward, replying, referred io the fact that for years the country bad paid hundreds of thousands in superannuation and compassionate allowances without building up a fund. He went on to quote at great length from the evidence given by an actuary on the present Bill to show that the funds proposed were actuarially sound tor three years, with a maximum increase ,of contribution at the end of every three years of £BIOO. lie quoted from a letter received from the Education Institute expressing approval of the Bill, and expressed regret that the police had elected to stand out. became (here could be no doubt that their present fund was not sound. The Bill was committed on the voices. Clause I was passed. Progress was then reported.