PROVIDENT FUND.

New Zealand Herald, Volume LXIX, Issue 21099, 5 February 1932, Page 12

PROVIDENT FUND.

WILSON AND HORTON STAFF. The first annual meeting of contributors to the Wilson and Horfon Staff Provident Association and Pension Fund was held yesterday, the chairman of the trustees, Mr. H. llorton, presiding. The report expressed the gratification of the trustees at tho excellent response by tho staff to the scheme introduced by the directors of the company, over 90 per cent, of thoso eligible having joined t he association. Tho first year's contributions by the staff and the firm's subsidy had been invested in Government and local body securities worth ,1:5090, and there was now standing to the credit of'tho contributors £5002. Under the pension scheme, £963 16s had been paid to a number of employees who had retired from tho service during tho year. In moving tho adoption of tho report and balance-sheet, Mr. Horfon said the trustees and directors wcro suro they now had in working order a scheme which would bo very beneficial to tho contributors in years to come. Tho appreciation of the staff was expressed by Mr. R. M. Hacket, editor of tho New Zealand Herat,n, at whose instance a resolution was carried congratulating the trustees on the successful establishment of the fund and expressing to the directors the staff's appreciation of the generous contributions mado bv the company. Mr. Hacket said it must give every contributor great satisfaction to know that against the day of his retirement there was a substantial, well-secured fund liberally subsidised by the company.