RAILWAY SUPERANNUATION FUND.

Evening Star, Issue 21219, 28 September 1932, Page 9

RAILWAY SUPERANNUATION FUND.

TO THE EDITOR. Sir, —Let me assure “Retired Railway Servant ” that I am quite aware that Government officials all have a moral agreement with the State to pay them their allowance on retirement. Let me, however, also inform him that thousands of other people had equally as good contracts with the same party, but last session all those agreements (which were considered inviolate) were set aside. Not only did the Government repudiate its own obligations, but legislated for the compulsory reduction of rents and interest on mortgages, etc., thus reducing the superannuation, built up by the private employee and business man. This legislation was very drastic, but was considered necessary owing to the financial crisis. The only persons not affected were the superannuated Civil servants. They have not yet been called upon to suffer any of the “cuts” and reductions imposed upon everyone else. Your correspondent says they are in the same position as members of friendly societies or policy holders in life insurance offices, etc. I wish they were; then there would be no necessity for Government subsidies. That is exactly the point I wished to make. It would put the Civil servant in the same position as other people. Now, one word in reply to the letter signed “ Justice.” He says; “ I would howl if my employer compelled me to contribute to a superanmiation scheme on the promise of a certain annuity on retirement and then repudiated his promise.” Perhaps I should, hut if he repudiated his other obligations I should certainly not be surprised if he treated me in a similar manner —especially if he had been foolish enough to enter into a lop-sided agreement to subsidise my contributions by approximately 50 per cent. “ Justice ” blames the Coates Government, but we have to take things as we find them, and all should be prepared for “ equality of sacrifice,” and. as I have shown, the retired Government officials have sacrificed nothing.—l am. etc., . Citizen. September 26.