SERIOUS POSITION
’ SUPER ANNUA TION" JONDS LBy Telegraph—Press Association] ' WELLINGTON, This Day. Addressing. a conference of contributors to superannuation, funds and supera.mniitants to-day, Mr Coates said the funds were in a serious .position which will become impossible at an early, date unless definite steps are taken immediately to stabilise tlie fujids. Already tlie income was insufficient to meet outgoings. If tlie funds' were to be made solvent contributors and . annuitants must .make sacrifices. The bulk ,qf the funds were invested in mortgage-securi-ties which were,practicallyunrealisable at present. Mr Coates: said the -funds cou id be made sound if contributors and annuitants accepted the lesser benefits recommended by the National Expenditure Commission and embodied in last year’s Bill.
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https://paperspast.natlib.govt.nz/newspapers/NEM19331130.2.117
Bibliographic details
Nelson Evening Mail, Volume LXVI, 30 November 1933, Page 7
Word Count
116SERIOUS POSITION Nelson Evening Mail, Volume LXVI, 30 November 1933, Page 7
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