TWO NEW BILLS.

Press, Volume LX, Issue 18149, 12 August 1924, Page 14

TWO NEW BILLS.

WAR FUNDS ANp LOCAL BODY SUPERANNUATION. : (special to "the press.") WELLINGTON, August 11. A Bill amending the War Funds Act, 1915, was circulated to-night following a meeting of Cabinet. The incorporation of the National War Funds Council is the object of the hew measure. The Council was set up by the Act of 1915, and was empowered to take over the administration of local war funds if requested to do so by the trustees of the latter. The Act was amended in the three succeeding years, and the process is carried still further by providing machinery for contracts, the vesting of property in the Council, and the administration of trusts. A Bill amending the Act passed in 1908 to establish a superannuation fund for employees of local authorities was also ■ circulated to-night. ■ In., consideration of an increased annuity to his widow on his death a contributor may make an agreement with the local authority under which he may accept a reduced retiring allowance. The rate and terms of the annuity are also a matter for agreement. The annuity shall be additional to the existing annuity of £lB per annum, with 5s a week for each child until attaining the age of fourteen. Provision is made for applications, which must be lodged within six months of retirement, to be submitted to an actuary appointed by the GovernorGeneral, and the local authority may nbt. grant an annuity in excess of the amount recommended by the actuary unless on terms approved by him.