SUPERANNUATION

Dominion, Volume 34, Issue 157, 29 March 1941, Page 18

SUPERANNUATION

Wellington Harbour Board’s Fund There are 429 employees contributing to the Wellington Harbour Board’s superannuation fund. There are 68 superannuitants on the fund, in addition to 28 widows and three children under 14. For the last annual period the fund paid £7596 in retiring allowances, £505 to widows and £67 to children. The amount of the fund jn the hands of the Public Trustee was £301,107 for the year reviewed in the report presented at Wednesday’s annual meeting of the board. Members’ annual contributions were £7998, and the board’s subsidy £5198. Interest earned by the fund was £10,014 for the year. Of the board’s 441 permanent 'employees 419 have their lives insured under the board’s scheme, toward the premiums of which policies the board paid in the year under review £2898. The total sum assured is £158,445, an average of £378 per employee insured. Mr. H. Morrison said* he knew of no other body in Australia and New Zealand whose superannuation fund was in such a good state. Long Service. The board has also a lecord for the long service of its officers. During the board’s last financial year these officers retired: Mr. R. H. Rigarlsford (36 years’ service), Mr. William Brown (38 years), Mr. O. A. Everingham (21 years), Mr. H. O'Brien (28years), and Mr. G. D. Lamont (35 years).