INEQUITABLE.

Hawera Star, Volume XLVIII, 27 August 1924, Page 9

INEQUITABLE.

.SUPERANNUATION SCHEMES

COST TO THE STATE

WELLINGTON, Aug. 26

Some idea of what subsidies to .superannuation funds are costing the State was given by tlie Prime Minister when the Local Authorities Superannuation Amendment Bill was before the House to-night. Mr. Massey said that the question' had been asked as to whether it was intended by the Bill to subsidise local bodies for superannuation purposes. That was not intended and would not be proposed. He agreed with the opinion expressed by Mr. Wilford that we were moving steadily towards some scheme of general superannuation. There was no question about that, “I have noticed a feeling of discontent growing rapidly in the last year or two,” said Mr. Massey, ‘‘on the part of those people frtr whom superannuation is not provided. They naturally look at it in this way: they see superannuation provided for other men by employers, local bodies and the State, and they say that nothing is done for them, although they have to contribute towards the superannuation' for the other fellow.” Mr. Wilford: “Bring in a Bill, and we will help you.” Mr. Massey: “It i- a big thing.” Mr. Wilford: “it is. indeed.” Mr. Massey added that Parliament would have to do .something in this matter, not this session, but he could «ee it coming. Mr. Massey then gave figures to show what was contributed towards superannuation funds. Last vear the State contributed to the Public Service Superannuation Fund £136,000. the contributions from employees being £928.000. To tlie Teachers’ Fund the State contributed £68.000. and the teachers provided £102,000. To tlie Railway Superannuation Fund the State gave £125,ll> p railwaymon contributed £133,000. The total of State subsidies was £319,000, and the contribuxmco n il 0 1" employees amounted to LdoJ.OOO. >Since the inauguration of the superannuation schemes, the State had paid £2.100,000 while the emcontribution amounted to £0,000,000. The requirements for the current year were as follows: £ Public Service 736.000 Total £371,000