RAILWAY ANNUITIES
SUPERANNUATION FUND. WELLINGTON, Aug. 19. A total of 1014 members, 523 widows and 397 children—in all, 2534 persons —were on the Government Railways Superannuation Fund at March 31, 1931, according to the annual report of the fund presented to Parliament. This involved an annual liability of £299,489. The balance of income over expenditure for the year amounted to £116,540, a decrease of £16,705 compared with the previous year. Members’ contributions decreased by £5187, the total under this head being due to the staff reductions owing to the depression and the fact that vacancies in the permanent staff had not been filled. The sum of £170,000 was paid into the fund from the working railways account. Interest earned amounted to £80.049. The expenditure on account of life allowances to members amounted to £269,602, an increase of £20,366 as compared with the previous year, the average amount of the 183 allowances granted during the year being £207,
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Bibliographic details
Manawatu Standard, Volume IV, Issue 221, 19 August 1931, Page 3
Word Count
157RAILWAY ANNUITIES Manawatu Standard, Volume IV, Issue 221, 19 August 1931, Page 3
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