RETIRING TEACHERS.

New Zealand Herald, Volume LXVII, Issue 20597, 23 June 1930, Page 11

RETIRING TEACHERS.

THE SUPERANNUATION FUND.

AMOUNT OF STATE PAYMENTS.

CRITICISM BY HEADMASTER

The position of the teachers' superannuation fund, particularly in regard to the Government contributions, was discussed in several speeches made at the annual dinner of tho Auckland Headmasters' Association on Saturday evening. Mr. F. A. Garry, who introduced the subject, took exception to ill-informed criticism. It was a fact, ho said, that the fund was not in the soundest position actuarially, and that was not in spite of a huge Government contribution, but because the Government had not' given what it had undertaken to give when the fund was instituted in 1906. At that time an understanding was given that the teachers then in the service should be able to join the fund without liability for contributions in respect to past service, the Government to provide a sum sufficient to cover this. That would have been £BOO,OOO, but in the 24 years the Government contributions had totalled about £600,000. Therefore the State had actually contributed £200,000 less than the original undertaking required. The position must become worse as more and more money had to be paid out of the fund, continued Mr. Garry. Succeeding Governments had never met the position fairly and squarely, but had been satisfied so long as there was sufficient money in the coffers to meet immediate expenditure. Mr. H. G. R. Mason, M.P., said he felt that the position of the teachers should be secured. He realised that the instability of the superannuation fund was due to charges that should not fpirly have been laid on it, namely, payments to teachers who had retired before they had paid much into the fund. Mr. G. C. Munns, M.P., commented that, no matter what salary a man was receiving, he should not be given a tremendous amount, some thousands a year, when he retired, as was known to be happening in at least one instance. Mr. Garry: Not among teachers. Mr. Munns added that it wq.s absolutely wrong for a comparatively young man to be able to retire and draw thousands of pounds a year.