THE SUPERANNUATION BILL

New Zealand Herald, Volume LXIX, Issue 21332, 5 November 1932, Page 15

THE SUPERANNUATION BILL

gj r ,—As one of those likely to suffer loss if the Superannuation Bill as drafted becomes law, I have read with inteiest the letters on the subject that have been published in your paper. I quite agree with the writer of the letter signed "Justice." in that. I cannot see the equity of singling out a section of superannuitants and trying to squeeze the "missing millions"'out of them. We all know that something must be done to put the fund on a sound footing, and the something will entail scraping up every penny that can be withheld from pensioners, plus a substantial contribution from the Consolidated Fund. That being so, why not deal with us as with old age and other pensioners—cut us all back. Although I paid hundreds of pounds (at the rate of 7 per cent of my salary) into the fund, and on the higher scale during the lean years when salaries were cut. and although I am a "sick man" owing to war disabilities and can ill-afford any loss at present, yet I would have nothing to say against it if I felt that all of us were getting a fair deal. To my mind there are two ways of dealing fairly with the problem, viz*., either cut all pensions back on a graduated scale or on an actuarial basis, giving credit to those of us who had contributed most to the fund. Son Of a Pioneer.