INSURANCE FOR ALL.

New Zealand Herald, Volume LXIX, Issue 21233, 13 July 1932, Page 6

INSURANCE FOR ALL.

NATIONAL SUPERANNUATION.

FARMERS FAVOUR SCHEME. A national scheme of universal superannuation was favoured by the New Zealand Farmers' Union at its annual conference in Wellington last week. A long remit bearing on the subject was received from the North Canterbury Union. After referring to the risk of loss on ordinary investments or of equity in property, the remit pointed out that many individuals, including farmers, had hypothecated and lost their insurance policies and other lifetime savings. It was suggested that the Government should establish a national scheme of universal superannuation, such a scheme to displace in time the old age and perhaps other pension schemes. The benefits should be paid if possible from the age of 60, artd the contributor's interest in the fund was to be an absolutely unassailable and inconvertible for any purpose whatever. Mr. C. Mcintosh, of Rangiora, who moved the remit, said he thought perhaps an average pension of £2 a week should be aimed at, to be drawn by the wealthy and others alike. The delegates inquired how such a scheme would affect the man already fully insured. Mr. Mcintosh said the scheme would not affect such an individual at all, but unfortunately a lot of-people had pledged their insurance policies to stock and station firms. Such a scheme as he had outlined would really be a retiring allowance, regardless of whether the individual was wealthy or not. Mr. R; D. Duxfield (Horotiu) supported the scheme. It would, he said, encourage thrift, which was unfortunately not the case with the present old-age pension system. The remit was carried.