SUPERANNUATION FOR TEACHERS.

New Zealand Herald, Volume XLII, Issue 12930, 28 July 1905, Page 5

SUPERANNUATION FOR TEACHERS.

STATEMENT BY THE PREMIER. t . ' • SURPRISED AND DISAPPOINTED. [by telegraph.—own corespondent.] Dunedin, Thursday. The secretary of the Otago Education Institute has received the. following telegram from Mr. Seddon, in answer to the resolution passed at the meeting of teachers held in the normal school on Monday evening:— , ' "Your telegram respecting teachers' superannuation scheme received. lam surprised and disappointed at the attitude taken. To give a minimum of £52 per annum means a capital of £78,000 ; to allow back service to count would require a capital of £225,000; to make the funds under existing proposals actuarially sound would require an annual contribution from the State of from -£7000 to £10,000. At the year 1931 it would require, according to actuarial calculations, £3 per head per teacher to be paid into the fund by the Government. The annual contributions under the present proposals would, after the first year, amount to £30,000,' and our proposed increase to teachers is £26,000, so that all the teachers would have to • find would be £4000 a year to get the advantage of the superannuation. Owing to the objections now taken, I think it is only just to the Government and all concerned to submit the Bill to the Education Committee, who will no doubt take evidence, and what I have herein stated will no doubt be demonstrated. Whether Parliament is prepared to gc further than • we have proposed is problematical." Wellington, Thursday. Mr. Seddon received a deputation from the New Zealand Educational Institute tonight, which placed before him the views of the institute on the Superannuation Bill. The deputation expressed the opinion that the Bill was good for members tinder 30, but the £52 minimum under the Bill was too low. Mr. Seddon, in reply, said the proposals under the Bill were really very generous. Those receiving low salaries would get the advantage of the £52 minimum. The capital value of the minimum pension was £45,316 for males, and £33,770 for females. If they made it £104, it would take for males' £121.521, and for females £111,783. In fact, allowing for back ser--vice, it would cost £255,000. With subsidiary benefits, and the £104 minimum, the total capital value would be £503,352. In regard to decreasing the age of retirement for females, lie could not take a leap in the dark. The teachers had a strong claim on the colony, but, unfortunately for the scheme, too many of them were advancing in years, whereas relatively in the railway service the employees were of a Jb much^ouns&r Age.,