SUPERANNUATION.

Greymouth Evening Star, 9 October 1908, Page 4

SUPERANNUATION.

THE LOCAL AUTHORITIES’ SCHEME. [i'Eli PRESS ASSOCIATION.] WELLINGTON, This Day. In the House of Representatives last night, The Premier moved the committal of the Local Authorities’ Superannuation Bill, which is designed to enable local bodies to establish superannuation funds for their employees. Sir Joseph Ward said the scheme was. financially sound. In committee lie would move amendments to enable local authorities to establish a united fund. Mr Massey approved of the principle of the bill. He was not sure it was financially sound, but at any rate it was sounder than the Government’s superannuation scheme. Mr Davey urged that the fund should have a State guarantee. Messrs Wilfoid and Laurcnson thought the pensions should be nayable to old employees, and the latter" hoped to sec all funds merged in the great scheme of national pensions. Mr James Allen said there was absolutely no guarantee in the bill that the scheme established by the local authorities would ho actuarially sound, while he approved of the principle of the bill he held the hill was ill considered, there being no provision in case the local authority could not meet the guarantee. Ho protested against important financial measures being hurried through at the end of the session. After further discussion, the Premier, replying, said it was absurd to declare that hills had boon brought down without proper consideration, as every important bill, except the old age tensions, bad been referred to a committee. As to Mr Allen’s strictures on (lie soundness of tlic scheme, the hon. member was putting himself against the opinion of the actuary, who had given evidence on the bill. The motion was agreed to, and in committee the Premier moved a new clause to enable local authorities to unite to establish a feud. This was agreed to without discussion. Another clause was added to enable a local authority to grant additional retiring allowances in respect of services prior to the Act. Both superannuation bills were then put through their final stages. Amongst the measures which passed the : House of Representatives yesterday was the Ross Goldfields Electric Power Transmission Bill, which Mr Seddon piloted.