SUPERANNUATION FUNDS

Evening Post, Volume CXI, Issue 130, 4 June 1931, Page 10

SUPERANNUATION FUNDS

(To the Editor.) Sir,—-The Public Service Superannuation Fund was investigated by the Into Prime Minister (Sir -Joseph Ward) and was shown to require strengthening. Since then many senior oflicers have been, retired. They are not now paying in, but all drawing on the fund, and we understand many more are to follow." What, then, must be the contributions to be paid into the fund per annum by the poor taxpayer to assist to pay out these good salaries? This tax must come on all, the poor worker with very little work, all those with 10 per cent, reductions, and many unfortunate families who have not enough to keep themselves. Some of these superannuated members drawing large salaries are taking on jobs in the Government and elsewhere, • and' the smaller salaried men are also taking on work with private firms at nominal rates at the expense of the unemployed. : Do not these exceptional circumstances require some special provision and revision, and has the time not arrived when a limit should be put on the retiring allowance of any Government servant, say, £500 a year, and graded down according to scale ? There is a limit to what'the: public funds, otherwise taxpayers, can pay to superannuated servants, and for men holding good positions for years to retire on £1000, £1500, and £2500 a year is simply more than-a young country like ours can altor,d.-I am, etc.,. TAXpAyEI^ , [There is.at present a limit of £300 a year on the pension payable to persons who entered the fund after 24th December, 1000.-Ed.] ■ ,■ , ■ 1