SUPERANNUATION FUNDS

Press, Volume LXXVII, Issue 23224, 10 January 1941, Page 4

SUPERANNUATION FUNDS

PROVIDING ANNUITIES FOR DEPENDENTS

NEW REGULATIONS GAZETTED'

WELLINGTON, January 9,

Legislative authority was given by the Finance Acts Nos. 2 and 4 of 1940 to enable contributors and superannuitants of the Public Service Superannuation Fund to surrender part of their retiring allowance to make better provision for their wives and other dependents of the Government superannuation funds. Regulations governing annuities for dependents were gazetted to-night and set out the detailed procedure to be followed. Before actually making an election to surrender, the person concerned may apply to the secretary of the Superannuation Fund Board for an actuarial statement of the amount which can be provided for. his wife by the surrender of part of his retiring allowance. There are three types of election which can be made, and a contributor may make his choice. The regulations also provide for medical examination of contributors, who are entitled, if they so desire, to nominate their own medical practitioner in addition to one appointed by the Superannuation Board. There ’is also provision for appeal if a contributor or the board is dissatisfied with a medical report. The regulations provide the necessary forms of election which a contributor must make. .