A SUPERANNUATION SCHEME.

Dominion, Volume 3, Issue 685, 9 December 1909, Page 8

A SUPERANNUATION SCHEME.

: .'v'."- BY TB3I UNION COMPANY. :--'' : -\..{X V(Br TolccraDh.-I'rcjs iosoclatlod.! •'. ■■'.'.. Duriedin, 'December 8. / : A superannuation soheme for masters,'offi« , cers, and engineers-in. the employ bf,tho-.tJnioa;: ',;,;. Steam' Ship' has been formulated and adopted, the company-undertaking to! subsidise:.' . the :schcmo'to the' extent..of J!2O,O0O—JE10,000; . in cash, and £1000. annually fox ten : years. \ .. The age of retirement for men who haveibcen ';.'■'■ ten years or; moro in■.- the, company's, service: : ■ is to Ibe' sixty-three-years. -The'' trustees, ap-.y, ...< pointed' art Captains D.e J. : Watson and : A«'' \Vallis, representing th<| -deck officers, Messrs.' .■.■:'■ A.' K. Histop and' H. Si-Baldwin, representing; y , tho engineers, and Messrs. ;C.-Holdsworth (goa-;. eral manager) aud T. W. Whitson (secretary): .'; representing the company.'. : .•■■.-.■-.'■ The rates of contribiitioii'iiindor the clerical scheme,.. which .includes, -pursers" and.. assistant-, . ■.. pursers,' wharf managers,, and superintendents -':' of. outdoor departments, 'are-.as follow :—Offi-,:•< oers under,' forty years .of joining .'tho' ■, V association, 5 per ,cent...upon '.annual salary;•'■•■■'■'.. forty years of ago and. under, forty-five, GJ per. :•',■,. cent.; forty:five' and:under fifty, 7J-per.cent;;:. fifty, and under, fifty-three, ton. per cent.,' fifty-.'.' '■■:. throe!..and under .fiftjveight,:: 12J .per cent.)'. . fifty-eight, and:under.sixty,,.ls,per, cent. .:')'';,.:'.' Contributions will.continue,to bo';payable at;: '. the: rate, applicable to ago ,on joining, ThV . maximum salary on ; which ..cdntributlohs.aro.;') levied or .supcrantiuation calouloted 'is JC7S(L ■' '~., andtho pension during life is: one-sixtieth ;ol\the .average ,annu'al ; salary...for,- each year. '-x>t■'■■■';'■" service, • limited' to two-thirds .of-, the:' average.; ',''■■ annual salary,' with'a maximum of :.£3bo;, ':,.-,'.'-'