SUPERANNUATION AND CLASSIFICATION.

Greymouth Evening Star, 8 October 1908, Page 4

SUPERANNUATION AND CLASSIFICATION.

THE BILL BEAD A SECOND TIME. I I'EH I'KIiSS ASSOCIATION’-J WELLINGTON, This Day. In the House of Bep resent a lives last night, the Premier moved the sec oud reading of the .Public Service Classification and Superannuation Mill to make amendments in the Public Service Superannuation, Teachers Superannuation, and Police Superannuation Acts. The Minister, at the request of the police proposed that clauses referring to the police be struck out iu committee. With regard to the Teachers Superannuation, ho (minted out that it was impracticable to include them in ilw same scheme of Superannuation but the two schemes were assimilated as far as possible. The fund had been declared actuarially sound. An animal subsidy of £7OOO was provided corresponding to a, subsidy of £20,000 provided by the act of 1907 for the Public Service Superannuation fund. With regard to the latter service, the Bill contained a provision to include the Bust and Telegraph. Depart incut under sect ions of the Public Service Classification Act. Various amendments of the existing law were embodied in the Bill mainly to elucidate clauses and obviate the possibility of certain abuses. Clause 57 gave power to the Board to determine 1 lie rate of contribution payable by a. contributor who is re-appointed to the public service after retirement, fie would ask in committee that, clauses relating to broken time he struck out. Hon Mills advocated the including of members of Parliament in (he Bill. Sir .Joseph, in replying referred to the fact that for years the. counlry had paid hundreds of thousands in sii} )Oi*ci 11 ii 11 til i oi) and rnin pnssioiinfo allowances without building up a fund. He went on to quote "at; great length from evidence given by an actuary on (lie present Bill to show the funds proposed were actnarllv sound for three years and the maximum increase of contribution at. the end of every three years was £B,IOOO. He quoted'from a letter received from (ho educational institute expressing approval of (lie Bill and expressed regret. that (lie police had elected to stand out because (here could bo no doubt that (heir present fund was not ■sound. The Bill was committed on the voices. The clauses were passed and progress reported.