SUPERANNUATION PLAN

New Zealand Herald, Volume LXXI, Issue 21951, 7 November 1934, Page 16

SUPERANNUATION PLAN

TRANSPORT EMPLOYEES MATTER BEING CONSIDERED OVERSEAS INTEREST QUESTION A superannuation scheme for the omplovecs of the Auckland I ransport Board, who arc not already provided for under the grading system was discussed at a meeting of ilie hoard yesterday. "ft is essential that we should do something in the matter for the nton," said Mr. E. H. Potter. "If wo adopted a scheme by which the men paid in -{ per cent of their wages, and we paid a similar amount, it would cost us about CooOO a year.'' "The board is unanimously of the opinion jhat a superannuation scheme is desirable,'' said the chairman. Mr. •f. A. C. Allum. "The hoard is greatly di.-turhed because (he older men are going out of the service without proper provision being made for them. '1 he employees' club, however, is at present considering a scheme and the idea is to discuss all the suggestions at a committee meeting. Wo have also the question of securing a reduction in our overseas interest bill, and wc hope that a settlement in this connection will make the other project possihle. It is only a question of finding a scheme which will he suitable to both the men and the board."

Mr. G. Grey Campbell expressed the opinion that the hoard had been placed in a very unfair position by Mr. Potter raising the question at the present moment. The matter had previously been very thoroughly discussed by the board and a report had been received from the men stating that they could not afford to pay the proportion suggested. On the other hand, the board could not afford to meet the whole cost of the scheme. "I do not think the men could contribute both to the club and to a superannuation scheme until some of their 'cut' is restored to them,' said Mr. W. H. Xagle. Mr. Potter said that some time ago he had asked for the secretary to resubmit the report on superannuation brought down in 1932. The report had been deferred for six months, but the time for its re-submission had long expired. The proposals were definite and in the interests of the men.

Mr. A Hum said the whole question was really out of order, but as no other members had objected he had allowed it to go on. "As a matter of fact, the whole board is unanimous on the subject," he added. "The men themselves know, however, that the board can do little until it is in a better position. The question of overseas interest bills has not been lost sight of, and I hope that in the next few weeks the board will be called on to discuss very definite proposals in an endeavour to meet the situation. It will then be possible. I hope, to proceed with the consideration of the superannuation scheme for the men."