SUPERANNUATION

Evening Post, Volume CXVIII, Issue 57, 5 September 1934, Page 10

SUPERANNUATION

UNIVERSAL SCHEME

PROPOSED BY MR. JULL

A suggestion that Now Zealand might adopt a uniform, compulsory, contributory system of superaunuation was made in the House of Representatives yesterday by Mr. A. E. Jull (Government, Waipawa) during the course of his speech on the Budget debate. He expressed the opinion that tho advantages of superannuation should not bo confined to the Public Service only.

Mr. Jull said that in Great Britain the whole of the payments for superannuation were met out of tho Budget, and he thought that tho Government should investigate the position there before making any decision. Tho British Government was finding that superannuation payments were a., drain on its resources, and if the Government was thinking of adopting a similar procedure, it might first make some inquiries from the British Government. There was no reason why a superannuation scheme should not bo applied to the whole of tho people of tho country, instead of only to the Civil Service, especially as there were numbers of people outside who believed that they were working for the Government. If a universal system were adopted, it would relievo tho expenditure for old ago pensions because the people would bo provided for by superannuation. Mr. Jull said that he did not think that tho civil servants would favour a non-contributory superannuation scheme as that would leave their pensions at the mercy of the annual vote.

Mr. C. 11. Chapman (Labour, Wellington North): It was threatened recently. Mr. Jull said that the Government might adopt the compulsory unemployment insurance scheme in operation in Great Britain as the basis for a superannuation system.