RAILWAY RETIREMENTS

New Zealand Herald, Volume LXIX, Issue 21113, 22 February 1932, Page 11

RAILWAY RETIREMENTS

BASIS OF SUPERANNUATION.

AUCKLAND MEN'S PROTEST.

MANY INEQUALITIES ALLEGED,

A protest against the action of the Government in determining on an actuarial basis the superannuation duo to members of tho railway service forced to retire after 30 years' service was made at a meeting of about 100 Auckland railway employees on Saturday evening. A resolution was passed calling on the Government to give effect to the raihvaymen's petition, which had been favourably recommended by the Railways Committee of Parliament and subsequently endorsed by tho House, asking for alleviation from the hardship resulting from tho actuarial basis of calculation.

Mr. R. Carroll, who presided, said it was stated that tho Crown had an inherent right to repudiate a contract. The men affected, however, had joined the service on the understanding they would receive superannuation on a basis of 1 60th of their salaries for each of the 40 years of service.

Mr. W. J. Jordan, M.P., a member of tho Railways Committee, said tho committee had decided in September to refer the petition to tho Government for its "most favourable consideration." It had been endorsed by the House, but nothing moro had been heard of the matter. The speaker quoted from the petition figures which showed that whereas compulsorilyretired members would, on tho l-60th calculation, have received annual superannuation of £134 and £132, they were granted under the actuarial basis only £Bl and £77 respectively. Mr. A. Harris, M.P., said there had been no actual repudiation of contract, as Parliament had decided, as an unavoidable economy measure, to reduce tho railway staff by compelling earlier retirements.

Mr. J. Elliott, who moved the motion, said tho superannuation fund had been inaugurated in 1903, but in 1926 the Act had been amended to limit the superannuation of members engaged after 1909 to a maximum of £3OO a year. He asked why tho alteration was made restrospective to 1909 only, as no large-salaried men, apart from "imported" officers, had joined tho service sinco that . date. Had the approximate 300 recipients who joined the service before 1909 been also subjected to the' limit of £3OO a year, an annual sum of £28,356 would have been saved. The number of recipents drawing over £6 a week was as follows:—Over £6, 129; approximately £7, 76; £B, 47; £lO, 21; £l2, 11; £ls, 9; £l6, 6; £23, 1; £27 10s, 1; £3B 12s, 1. Addresses in support of the petition were given by Messrs. W. E* Parry, J. A. Leo and S. Richards, M.P's. Mr. H. G. R. Mason, M.P., was also present. Tho members of Parliament present were requested to tako the earliest opportunity to ask Cabinet for its decision regarding the petition. A further resolution favoured the superannuation fund being taken over by the employees, no member to receive more than £3OO a year, this restriction to be retrospective.