E.—9

Session 11. 1921. NEW ZEALAND.

EDUCATION: TEACHERS' SUPERANNUATION FUND. [In continuation of E.-9, 1920.]

Presented to both Houses of the General Assembly by Command of His Excellency.

No. I.—EXTRACT FROM THE FORTY-FOURTH ANNUAL REPORT OF MINISTER OF EDUCATION. Teachers' Superannuation Fund. The position of the fund at 31st December, 1920, and the principal figures concerning the year's transactions, as compared with those for 1919 are given below:— 1919. 1920. £ £ Balance at credit of fund at 31st December .. .. .. 526,702 599,303 Increase over balance at end of previous year .. .. .. 68,646 72,601 Income for the year — Members'contributions .. .. .. .. ..72,561 87,526 Interest .. .. .. .. .. .. .. 26,686 30,295 Government subsidy .. .. .. .. .. ..43,000 43,000 Total income .. .. .. .. ..£142,247 £160,821 Expenditure — £ £ Eetiring and other allowances .. .. .. .. 57,489 66,589 Contributions refunded, &c. .. .. .. .. .. 14,735 20,142 Administration expenses .. .. .. .. .. 1,377 1,489 Total expenditure .. .. ... .. £73,601 £88,220 Number of contributors at 31st December .. .. .. .. 5,019 5,174 Number of members admitted during year .. .. .. .. 533 619 Number retiring from the fund during year . . .. .. 408 464 Net increase in membership at 31st December . . . . . . 125 155 Number of allowances in force at end of year . . . . . . 784 836 Representing an annual charge of .. .. .. .. .. £63,448 £70.208 Ordinary retiring-allowances .. .. .. .. 400 £40,493 437 £46,269 Retiring-allowances under extended provisions of section 12 of the Act .. .. .. .. .. 75 £10,533 76 £10,487 Retiring-allowances in medically-unfit eases .. .. 94 £9,029 99 £9,902 Allowances to widows .. .. .. .. 117 £2,119 125 £2,263 Allowances to children .. .. .. .. 98 £1,274 99 £1,287 Funds invested at 31st December— £ £ At 41- per cent. .. .. .. .. .. .. 59,000 58.900 At 5 per'cent. .. .. .. .. .. .. 26,161 14,601 At 5| per cent. .. .. .. .. .. ..38.460 38.460 At 5| per cent. .. .. .. .. .. .. 385,812 471,612 Total .. .. .. .. .. .. £509,433 £583,573 Average rate of interest on investments at 31st December , . 5-34 per cent. 5'37 per cent.

I—E. 9.