The North Auckland Age TUESDAY, SEPTEMBER 25, 1906. Our Note-book. NATIONAL ANNUITIES.

Northland Age, Volume 3, Issue 8, 25 September 1906, Page 4

The North Auckland Age TUESDAY, SEPTEMBER 25, 1906. Our Note-book. NATIONAL ANNUITIES.

WITH WHICH IS INCORPORATED “The Mangoniti County Times” and “The Bay of Islands Times ”

A verv important measure was laid before the House last Thursday, in the shape of a National Annuities scheme, particulars of which we publish in another column. As a piece of experimental legislation the measure is certainly original, but nevertheless its provisions generally should meet with public approval. The scheme is commendable for the reason that it would encourage thrift and give the greater assistance to those whose circumstances justly entitle them to greater consideration. We think it might well bfe the precursor of a much larger scheme which would provide for compulsory insurance. The Old Age Pensions Bill is regarded as a great boon by many, and the humanitarian principles underlying the scheme are indisputable, but it is not conducive to national thrift. In many ways in fact it has the reverse conception, insomuch that the person who saves a competency may be debarred from participating in the benefits of the scheme and at the same time be contributing to the support of the man who “ went the

pace and went it blind.” Under compulsory insurance there would be a fair and equal distribution of benefits, the individual would himself provide for his old age, and the State would thereby effect-a saving. Of course it is possible that such a scheme is impracticable, but in the process of evolution many obstacles disappear, and we may yet witness the spectacle of the Old Age Pensions being discarded as a State patrimony. As an honest effort to assist the thrifty worker the National Annuities scheme is a step in this direction, and, given that its financial aspect is sound, we trust the bill will become law.