Page image
Page image

H— 26a

TABLE 111. The Contributions and Benefits prescribed by the Act. Contributions. Contributors pay contributions varying with the age at which the first contribution becomes payable, as follows : — Age. Contribution. Under 30 .. .. 5 per cent, of salary. 30 to 34 .. .. 6 ~ 35 to 39 .. .. .. 7 40 to 44 .. .. 8 ~ 45 to 49 .. .. .. 9 50 and over .. .. .. 10 ~ Benefits. I. On Retirement, because of Age or Service: — An annual retiring-allowance of one-sixtieth of the average salary received during the iitial three years of service for each year of service, subject to a maximum of forty-sixtieths. Entrants since 24th December, 1909, are subject to a maximum retiring-allowance of £300 per annum. A contributor may retire — (i) After completion of forty years' service (males), thirty years' service (females). (ii) On attainment of age sixty-five (males), age fifty-five (females). The Minister in charge of a Department may retire a contributor earlier as follows, and may in such cases impose such conditions as to payments into the Fund or otherwise as he thinks fit — (i) After completion of thirty-five years' service (males). (ii) On attainment of age sixty (males), age fifty (females). (iii) After completion of thirty years' service and attainment of age fifty-five (males). In all cases the contributor may elect to accept a refund of contributions in lieu of a retiring-allowance. 11. On Retirement at any Time on the Grounds of being Medically Unfit for Further Duty: — A retiring-allowance calculated as in I or a refund of contributions, at the option of the contributor. 111. On Retirement before becoming entitled to a Retiring-allowance:— (i) Compulsory retirement for any reason other than misconduct after completion of twenty years' service—a refund of contributions with 3| per cent, interest. (ii) Voluntary retirement or dismissal for misconduct—a refund of contributions. IV. On Death while contributing or in Receipt of a Retiring-allowance:— (i) Leaving no widow: A refund of contributions less any benefits paid during the contributor's lifetime, or payable in respect of children. (ii) Leaving a widow: — (a) An annuity of £31 per annum during her widowhood ; or (b) A refund of contributions less any benefits paid during the contributor's lifetime. (iii) Leaving children : 10s. per week to each child until age fourteen.

6

Log in or create a Papers Past website account

Use your Papers Past website account to correct newspaper text.

By creating and using this account you agree to our terms of use.

Log in with RealMe®

If you’ve used a RealMe login somewhere else, you can use it here too. If you don’t already have a username and password, just click Log in and you can choose to create one.


Log in again to continue your work

Your session has expired.

Log in again with RealMe®


Alert