NATIONAL PENSIONS.

Marlborough Express, Volume XXXIX, Issue 113, 16 May 1906, Page 2

NATIONAL PENSIONS.

MR SEDDON'S SCHEME

[PRESS 4SSOCIATION.]

WELLINGTON, May 15

■ The " Post", says that the details of the scheme of national pensions which the Premier announced in his recent speeches, are being worked out by Mr Morris Fox, actuary to the Government insurance Department, in connection with Air F. W. Frankland, a foimer actuary of the Department, but now resident at Foxton. ■ i '

Mr Seddon's scheme is that anyone should bo able to deposit a certain sum monthly, say at the Post Office, and that amount would be subsidised by the Government in proportion to the means of the depositor. Poor persons' deposits, he proposed, should be subsidised to the extent of 25 per cent., and the subsidy would bo decreased to 10 por cent, in proportion to the means of the depositor. Interest and compound interest would be paid on the deposit, and the whole amount would provide an annuity for old age. If a husband paid in something he would not be allowed to touch it without the consent of his wife, and a wife making a deposit would not be allowed to touch it without the consent of her husband.