NATIONAL PROVIDENT FUND.

Dominion, Volume 4, Issue 952, 20 October 1910, Page 5

NATIONAL PROVIDENT FUND.

A NEW BILL. PENSIONS.AND ACCIDENT INSURANCE. ASSISTANCE TO MATERNITY. '. The National Provident Fund • Bill, wliich was introduced by Governor's Message last night, has a very wide scope. It .makes provision against destitution j arising from old age, sickness, widowhood, j and orphanage by means of a fund guaranteed and subsidised by the State. It.l provides for pensions at the age of sixty, for allowances for incapacitated contributors, and for the widows -and. children of deceased contributors, and for assistance to maternity (which is intended, to take the place of the proposal made in the same direction by. the Hospital and Charitable- Aid Amendment). .. The Bill, which it is proposed should come into operation, at the beginning of 1911, establishes a national provident [fund to be vested in the Public Trustee, I and administered by a board. . The benefits provided bv the Act • are guaranteed to every ■ contributor by the Government. The Minister for Finance shall in each year, commencing with the year 1912, pay into, the fund by way of subsidy' out of the Consolidated Fund, a sum-equal- to one-fourth of the total contributions during the last year ending on December 31, together with such further amount (if any) k is . deemed by the Governor-in-Conncil, in accordance with the report- of the actuary, to b® required to meet the charges, on: the fund during -the cuireni financial year. .. . . ; - The Weekly Contributions. .' The following table shorn tin Weekly contributions required to secure the pensions mentioned at the age of - sixty, the "age" column meaning tho age of contributor when firet contribution Tis. made Pension Pension Pension Pension Age.' :of 10s.> of 20s. of 80s., of 40s. , s. d. s. d. s. d. s.d. 17. 0 9 I t . 2 3 3 0 IS 0 10 1 8 2 6-3 4 19 0 10 1 8 2 6 3 4 20 ...... . 0 11' 110 2 9 , 3 8 21 1,0 2 0 3 0 i 0 22 ,1 0 2 0 3 0 4 0 23 ._. 1 1 2 2 3 3 4 4 , 21—122 4 3 6 4 8 25 ...... 1 3 2 6 3 9 5 0 ' 28. 1 i : 2 8 4 0 5 4 27 1 5 2 10 4 3 5 8 28 ...... 1 G 3 0 4 6 6 0 20 ..... 1 7 3 2 4 9 6 4 30 ...... 1 8 3 4 5 0 6 8 31 1 0 3 6' 5 3 7 o;' : 32 110 3 8 . 5 G - 7 4 33—204 0 6 0 8 0 34 2 2 4 4 G G 8 8; 352346 ■ 8 9 9 0 , 36 ....i 2 5 ,4 10 7 3 9 8 37 ...... ,2 7 5 2 7 9 10 4 38 210 5 8 8 6 11 4 39 3 0 G 0 9 0 12 0 10 3 3 6- 6 9 9 . 13 0 41 ...... 3 6 -7 0 10 6 14 0 42 310 7 8 11 6 15 4 43 ...... :4- 2 8 4 12 6 16' 8 ~44 ,4 6 • 9 0. 13 6 18 0 45 ....... 411 / 9 .10 14 9-' 19 8 ■ Each, age referred .tb: is the ago of tho contributor on his next succeeding birthday. ' .• ' \ For; Widows and Children. If any .person who has been a contributor for not less than' five.- years - dies, or if. any person dies while in receipt' of a pension, and' leaves a child or children under, tho age of fourteen years; the following allowances shall be made1. In respect of every child of a deceased or - incapacitated "contributor, so long as. that child is under: the age of fourteen years,"an allowance at the rate of .seven ■ shillings' arid sixpence a week. t',2. In respect of the.widow of a deceased contributor; if and sb long as any child of that contributor/is under tho age of' fourteen years, an allowance ait the rate of. seven "shillings andsixpence a week. 3. The above-mentioned allowances.shall bo calculated, from -time to. time in accordance with the number o£ children for tlia time being under " the .age. of .fourteen : years, aiid shaU .cease'when'there is no. longer' any. child under that age.. 4.;N0 allowance, shall be payable for a longer aggregate period than fourteen years, whether in.respect, of the incapacity or 7 the'death: of a. contributor, or partly in respect of his ' incapacity and partly in respect, of his death, and whether in respect of the same or of different periods of incapacity. .." , The allowance payable out of the fund be paid to the, widow, divided between the widow and children, or exp-cna-ed by the board or some-person authorised by-it for.their benefit/.' -If/owing to the death of children or; to their attaining : the aee bf' fourteen years, or through any other pause, the allowance' ceases to be nayablei'beforo the aggregate payments are" equal to the contributions. made to .the fund by. tho contributor in' his 'lifetime' (Jess any, moneys received ;by .' the contributor-. out" of - the fund in his lifetime),- the difference between those two amounts shall thereupon be payable out of the fund'to ;the, widow of the deceased contributor, ; or to. the children (if . any) 'in equal .snares./ !If a contributor dies, under ".such; circumstances that no .allowance is'payable out of the "fund,in jrorsnance of'fee last section, all the.contributions..made tothe fund by that contributor (less the moneys received by' him "-from the' fund :in his lifetime) shall .be paid out of the fund to the personal of the deceased contributor in trust for the person entitled thereto. Allowances for Incapacity. . There: are several limitations concerning the. payment, of benefits during incapacity. Benefits 'shall not. be. pa3d,- if. the incapacity, is due to the: serious misconduct of the -contributor; if'"tl» incapacity': does not. last three, months, 'and if it extends over -that period : ho allowance shall ;be/paid for the first three months, if .the contributor had not been paying .into, the fund for five years be-, foro the accident happened or' -illness commenced., No. allowance shall exceed the pecuniary loss of contributor, , and if ■ the income of contributor [hiring in-, capacity exceeds. i! 4 a w'eek no allowance shall be made. If . the. wife of any contributor, or if anj; contributor/(being a married woman) gives birth to! a child, and the joint income. of wife .md husband does r.ot exceed two hundred pounds, suoh contributor shall, bo entitled to' recoive the sum of sia: pounds or such less sums as the 'board'directs; The board may. - reduce the said! - sum to the. amount of the expenses actually incurred in respect of -medical attendance.-

> Who May Contribute. Any person may become a contributor to the fund who. : at tho : .timerwlioJi his first contribution' thereto is pawl— "(a) Is resident in New' Zealan d;. '■ (b) Is over sixteen- years of age; (c) Is under forty-five years of age; and (d)~Is . in receipt ,of an incomornot exceeding two-hnndred pounds a pear. Contributions shall be. paid weekly." -Any person jmay cease to bo a com-: tribntor, and may on the -expiration of twelve months thereafter' be; entitled to receive from the fund a return' of- oil contributions made by Him, less any sums which he has received from the fund. 'Similar provisions apply ii' a contribution. is in arrears more than) 18months, or if a contributor. leaves NewZealand. . '~

A contributor may. while under the age of 45,. increase his contributions so as to receive -the higher rate of pension, and he ma.y at imy time lower, his contributions 60. as to ijeceivo ft. lower rate of pension. contributor who. becomes imtitled to pension nwiy accept, in lieu thereof a return of all'contributions made by him to the fund, less all sums received from' the fund. ; . ■ . •

All', the provisions of the Act with .re-" spect to a child under tho age of 11 years shall apojjr to ft child lvhoii is under the age of eighteen years, and who by reason of bodily or mental infirmity is «ii!>tl-e to, maintain himself. ' ..Benefits -ire not .assignable.. :! . Moneys payable of the. 'fund shall not he deemed to be incomc or nfionmnlated property within the meaning: of tile Old Age Pensions Aot, 1908.