NATIONAL PROVIDENT FUND

Dominion, Volume 10, Issue 3028, 15 March 1917, Page 6

NATIONAL PROVIDENT FUND

LOCAL BODIES' SUPER ANNUATION'. The Hou. Arthur M. Myers, in conversation with a representative of The Dominion regarding the operations of the National Provident Fund Office (of which he is Minister in Charge), mentioned the fact that for some years past the question of providing a satisfactory! scheme of superannuation for employees of local authority's has been a very pressing one. In this connection he regards tlie recent decision of the Wellington City Council to adopt the scheme furnished by the Department as highly satisfactory, and likely to give a most important lead to the movement for the superannuation of the employees of local bodies throughout the Dominion. The scheme which Is now being considered by the various local bodies is based on the National Provident Fund Amendment Act, of 1914, which laid down the procedure by which local authorities may, by agreement with the National Provident Fund Board, become contributors to the fund on behalf of their employees. Tho system of benefits and contribution tables, as varied from the original Act, has now been ratified by the board after consideration of the actuary's report and recommendations. During tho last two years the Department lias issued preliminary tables to most of tho local authorities throughout New Zealand, and in several pases these have already been formally adopted in conformity with the Act. The Wellington City Council, being one of the largest local authority employers in the Dominion, the inclusion of this group will, it is anticipated, do much to bring about the introduction of this much-needed reform throughout local authorities' staffs in general.