RAILWAY SUPERANNUATION

Greymouth Evening Star, 8 July 1905, Page 3

RAILWAY SUPERANNUATION

[BY ILECTBIO TELEGRAPH.] (Our Parliamentary Reporter.) WELLINGTON, This Day. The report of the Board of Administration of the Government Railways Superannuation Fund was laid on the table of the House yesterday by the Minister, Sir ,T. G. Ward. The balance-sheet shows that for the year ended March 31 last, members of the fund contributed £43,581 19s 6d; tines produced £277 16s; interest, £2IBO 3s lid ; and a donation, £5. The superannuation allowances paid amounted to £14,933 10s, representing grants to 293 members of the Railway Service, who have either voluntarily resigned or have been retired as medically unfit. Allowances amounting to £1484 Os lOd were paid to 46 widows and 67 children, dependents of deceased members of the service, who wore not retired on superannuation at the time of their death. A sum of £BO6 17s 7d, being contributions of members who retired from the service voluntarily or otherwise, was refunded to the members concerned.

The Commission paid to (ho Public Trust Office £257 5s lid. The total disbursements for the year were £17,532 9s, this being below the year’s receipts, which were £45,844 19s sd, by £28,312 10s scl. 1 hero was a credit balance of £40,357 17s 3d, brought forward from the previous year, and the credit balance carried forward is £68,670 7s Bd. The gross receipts of the fund, from its inception on January 1, 1903, to March 31, 1905, were £96,680 10s sd, of which £89,413 7s Id was in contributions. by the staff. £3506 7s 9d was transferred from the Railway Servants Fund, £2990 Is 3d was realised in interest, and £565 14s 4d by fines, and £5 by the donation be-fore-mentioned. The total annual allowances granted by the Board to March 31 last, totalled £20,530 2s sd, of which £15,731 19s 2d was paid in life allowances to 260 persons, who voluntarily retired, while £2741 3s 2d was paid in life allowances to 49 persons who retired as medically unfit, and £2057 has been paid in allowances to 50 widows and 89 children. Since, the inauguration of the fund 15- beneficiaries have died, 13 in the year under review, the fund being thus relieved of anv animal liability of £1229 19s 2d. On March 31 last 416 persons were actually on the fund, involving an annual liability of £19,113 5s 2d. Of the contributions to the fund by the staff, the Huninui-Bluff section came first for the year with £21,628 19s lOd ; the Weliington-Napier-New Plymouth next, with £10,403 15s 8(1; and the Auckland section with £4737 6s 4d.

The heads of departmental offices ntributed £3569 19s Id.