Superannuitants
Jiir, —1 paid superannuation, 1914-1954, and am now getting it back. The Government had the use of my money free of interest. It offers 5 per cent for money lent to it; so my contributions should at com-
pound interest double every 15 years. The Minister of Finance claims he pays superannuitants two and a half times what they pay in. Oh my reckoning he pays back no more than paid in plus compound interest. He completely ignores the fact that the £1 I paid in 1914 was worth £l, but the £1 he now pays back is worth probably ss. The officer who took over my job 10 years ago receives how several hundred a year more than I did, with consequent higher retiring allowance. I will get the 6s increase in my universal superannuation, but I paid for that, too. All my career I paid tax on my gross salary, including superanuation deductions, and now pay tax again on the superannuation and the universal.—Yours, etc., SUPERANNUITANT. September 6. 1964.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19640909.2.146.2
Bibliographic details
Press, Volume CIII, Issue 30541, 9 September 1964, Page 16
Word Count
172Superannuitants Press, Volume CIII, Issue 30541, 9 September 1964, Page 16
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in