Petition on retiring allowances

Press, Volume CXI, Issue 32701, 2 September 1971, Page 9

Petition on retiring allowances

(From Our Own Reporter > WELLINGTON, September 1. A petition to Parliament by an individual Royal New Zealand Air Force officer on improvements to retiring allowances for members might result in the capitalisation factor in such allowances being reviewed.

The Minister of Finance) (Mr Muldoon) said this in answer to a question asked] I in Parliament by Mr R. P. B.| iDrayton (Lab., St Albans). ) Mr Muldoon said that dur-i | ing consideration of the petition by the Petitions Comjmittee, the Treasury had re-1 (Ported on the matter. The)

| petition was referred "for consideration.” i The Ministry of Defence had asked that the question ibe reviewed when further consideration was given to | the possibility of revision of I the basis of the cost-of-living adjustment scheme in its application to the armed forces.

“Shortly, I shall be discussing the two issues with my colleague, the Minister of Defence, in the light of the advice given by our two departments,” Mr Muldoon said. “Various organisations have included capitalisation in submissions made to the Government on superannuation, and there could be considerable difficulty in reviewing the provision in relation to any single group. A change in its whole structure might well prove to the detriment of contributors under various parts of the Superannuation Act.”