E.-14,

2

Employed after Commencement of Act.

The total number of contributors to the Fund at the 31st March, 1907, is shown in the Table 1 of the Appendix. Particulars of retirements from the Fund are given in Table 2 of the Appendix. Six contributors died before entering upon pension, and their contributions to the Fund, amounting to £57 4s. 5d., were paid to their legal personal representatives, and, in addition, pensions amounting to £155 per annum were allowed to their widows or children. To thirty-five contributors who left the service contributions amounting to £276 3s. Bd. were returned. Of those retiring as medically unfit, two original members whose service did not exceed fifteen years received an allowance equal in each case to one-twelfth part of the total salary paid during all the years of their service prior to the Ist January, 1906, the total amount being £137 35.; and six original members, of service exceeding fifteen years, were granted pensions (each at £52 per annum) amounting to £312 ; seventy-eight retired at pension age with pensions (seventy-one at £52 per annum, and seven at over £52 per annum) amounting to £4,207 3s. 3d. There appears to be no means of enforcing compliance with the provisions of the Act that every male contributor on attaining the age of sixty-five, and every female contributor on attaining the age of sixty, shall retire from the service. The following is a statement of the number of members who, having attained the statutory age of retirement, are still in the service: —

The balance to the credit of the Fund is £34,733 16s. 2d., and of this sum £28,000 has been invested on mortgage—£l4,soo at 4£ per cent., and £13,500 at 5 per cent. Geo. Fowlds, Wellington, 19th April, 1907. Chairman of the Board.

APPENDIX. 1. Statement of Membership for the Period commencing 1st January, 1906, and ending 31st March, 1907.

Number. Age at Entry. Contribution per Cent, of Salary. M. F. Total. lot more than 30 years •ver 30 but not more than 35 „ 35 , 40 . 40 „ 45 „ 45 „ 50 . 50 5 per cent. 6 7 „ 8 9 „ 10 „ 48 8 13 6 7 3 94 16 12 5 6 1 142 24 25 11 13 4 Totals 85 134 219

Number. Age : Years. M. F. Total. 65-66 66-67 67-68 68-69 69-70 60-61 61-62 62-63 2 4 1 2 2 2 4 1 2 2 1 1 i l 11 13

Number of Members. Annual Rate of Salary.* Annual Rate of Contributions.* Members. M. F. Total. M. F. Total. M. F. Total. Entered during the period letired during the period 1,603 1,436 76* 51 2,939 £ 284,953 £ 159,997 £ 444,950 £ £ 21,367 12,285 965 639 £ 33,652 • 127 10,535 7,560 18,095 1,604 'otals at 31st March, 1907 1,427: 1,38, 2,812! 274,418 152,4371 426,855 20,402 11,646 32,048 * At 31st March, 1907, or at date of retirement,