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THE PUBLIC SERVICE.

SUPERANNUATION BILL. The Public Service Superannuation Bill, which has just been introduced into Parliament, applies to every department -of the Government service except the Railways Department, so much of the Police Department as is included in the Police Provident Fund Act, 1899, and so much of the Education Department as is included in the Teachers' Superannuation Act, 1905. The ballots for the first election of the elective members shall be taken on the first Monday in July of next year, and on the first Monday in March of every third year after the Minister shall be Chairman of the Board. Persons who, on the coming into operation of the Act, are permanently employed in the public service, or who have been continuously employed in a department for five years or more, may become contributors to the fund. Persons not electing to become contributors at that time may not join later on, except on payment of sums to be computed according to regulations, and on conditions determined by the Board. After the Act comes into operation, contribution to the fund shall be a condition of employment. Persons temporarily employed may also join after completing five years' continuous service. The contributions shall be at the following rate: — (a) Five per cent, if the contributor's age does not exceed thirty at the time when the first contribution becomes payable; (b) six per cent, if his age then exceeds thirty years, but does not exceed thirty-five years; (c) seven per cent, if his age then exceeds thirty-five years, but does not exceed forty years; (d) eight per cent, if his age then exceeds forty years but does not exceed forty-five years; (e) nine per cent, if his age then exceeds forty-five years but does not exceed fifty years; and (f) ten per cent, if his age then exceeds fifty years. When a contributor is liable to deductions of salary under other Acts, such deductions shall cease on joining the fund under the | new Act, and amounts to credit of contributions shall be invested for their benefit by the Public Trustee. Existing life insurance policies under the Civil Service Insurance Act, 1893, may be kept alive independently of the new Act, or surrendered at the option of contributors. If surrendered, the value may be invested through the Public Trustee, or exchanged for a paid-up policy. Persons entitled to compensation for loss of office under the Civil Service Act 1866, will have their rights in respect to such compensation safeguarded in respect to the period of his employment up to the time of joining under the new Act. Every male contributor - whose length of service is not less than forty years, and whose age is not less than sixty years, and every female contributor whose length of service is not less than thirty years, or whose age is not less than fifty years, may retire from the service on three months' notice, and shall then receive a retiring allowance at the rate of one-sixtieth part of the annual salary, but in no case shall the allowance exceed two-thirds of such salary. Every contributor who, with the consent or by the direction of the Minister, retires from the service on the ground of being medically unfit, shall receive a retiring allowance for the rest of his life, computed as mentioned above. A contributor may elect to receive a refund to his contributions instead of his retiring allowance. In that event, he shall receive such sum without interest, and no further sum shall be payable at his death. For the purpose of computing the retiring allowance to be grafted to a contributor, his salary shall be deemed to be the average rate of salary received by him during the three years nevt preceding his retirement, or if his service has not continued for three years, then during the period of his service.

* A contributor voluntarily retiring from the service, or dispensed withy shall be entitled to a refund of his contributions without interest. On-the death of a male contributor, whether before or after becoming entitled to a retiring allowance, his widow may' elect to receive either £lB a year during her widowhood. Ox the amount of the contributions less any sum received by the contributor from the fund. For each child under 14, five shillings a week shall be paid until such child attains the age of 14. If the contributor leaves no widow, the amount of his contributions, less sums already received and sums payable in respect of children, shall be paid to his personal representatives in trust for the persons entitled thereto under his will or in- { testacy. Where a female contributor dies similar provisions apply in respect of her children or persons entitled to benefit under her will or intestacy. Compensation paid by the Government to a contributor under the Workers' Compensation for Accidents Act shall to the extent thereof be deemed to be received in satisfaction of his retiring allowance. Compensation received on the death of a contributor is placed on a similar footing. On the coming into opsration of the Act, and in January of every year thereafter, £20,000 shall be paid into the fund from the Consolidated Funu. Any deficiency in the fund is also to be made good by payment from the Consolidated Fund. Provision is made for the cases of persons transferred from the public service to the Railways Department and for transfer from one branch of the service to another.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/WAG19071108.2.21

Bibliographic details
Ngā taipitopito pukapuka

Wairarapa Age, Volume XXX, Issue 8875, 8 November 1907, Page 6

Word count
Tapeke kupu
914

THE PUBLIC SERVICE. Wairarapa Age, Volume XXX, Issue 8875, 8 November 1907, Page 6

THE PUBLIC SERVICE. Wairarapa Age, Volume XXX, Issue 8875, 8 November 1907, Page 6

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