E.—B.

1942. NEW ZEALAND.

EDUCATION: TEACHERS' SUPERANNUATION FUND.

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

THIRTY-SIXTH ANNUAL REPORT OF THE TEACHERS' SUPERANNUATION BOARD. For the Year ended 31st January, 1942. The Hon. the Minister op Education. g IE Wellington, Bth September, 1942. The Board has to submit the following report for the year ended the 31st January, 1942 : —■ The Board. —The usual quarterly meetings of the Board were held in February, May, August, and November. Payment of cost-of-living bonus amounting to £396 6s. sd. was made by the Government in certain necessitous cases. The following statements show the transactions, &c., of the fund for the year ended 31st January, 1942. For the Teachers' Superannuation Board, A. E. McKinnon, Secretary.

(A) REVENUE ACCOUNT for the Year ended 31st January, 1942. £ £ Balance 31st January, 1941 .. .. .. 974,885 Retiring and other allowances .. .. .. 350,188 Contributions of members (including transfers) .. 173,126 Contributions refunded— £ Additional contribution from Fijian and Tongan Go- On voluntary retirement .. .. 21,733 venmients .. .. •• 382 On death of members .. .. .. 8,979 •Government subsidies ■■ •• •• •• 155,627 On lapse of membership .. .. 1,358 Interest — £ 32,070 On investments and contributions in arrears 42,187 Rebate of contributions under National ExpendiLess investments written down (pro- ture Adjustment Act, 1932, section 9 (2), to portion of premium on purchase of annuitants .. .. .. .. .. 391 investments) .. .. 317 Contributions transferred to other funds .. .. 4,964 Administration expenses .. .. .. .. 3,599 41,870 Loss on mortgage security acquired .. .. 530 Plus investments written up (proportion Balance at 31st January, 1942 .. .. .. 954,640 of discount on purchase of investments) 492 42,302 £1,346,382 £1,346,382