PREMIER’S PROMISE

Wairarapa Times-Age, 30 April 1938, Page 6

PREMIER’S PROMISE

PRESENT SUPERANNUATION SCHEMES. TAX EXEMPTION NOT INTENDED. (By Telegraph—Press Association). WELLINGTON, This Day. A recent promise by the Prime Minister, Rt Hon M. J. Savage, that no one, by the Government’s social security proposals, would be placed in a worse position than they were in at present, and that the rights of superannuitants and contributors under the present schemes would be safeguarded, was recalled by Mr H. P. Mourant, secretary of the New Zealand Bank Officers’ Guild, during the cross-examin-ation, which followed the submission of bank officers’ views to the Select Committee on National Health and State Superannuation yesterday. “Yes, that is quite right,” said Mr Savage, when reminded of his assurance, “but I did not say that they would be exempt from taxation. What I was referring to was the undesirability of closing up existing funds and making people feel that they had been dragged into something else.” Mi’ S. G. Holland (Opposition, Christchurch North), said at a later stage that in 1937 the Prime Minister had stated: “Our job is to make superannuation universal and to see every person in New Zealand is covered. Those who are contributing to existing funds will have the option of coming into the State scheme voluntarily if they wish to do so, but there will be no compulsion in their case.” Mr Savage: “I say that now.”