RAILWAY SUPERANNUATION

New Zealand Times, Volume XXX, Issue 6494, 14 April 1908, Page 4

RAILWAY SUPERANNUATION

ACCUMULATION OF .£127,000. BOARD'S QUARTERLY MEETING. The Railway Superannuation Fundi has now an accumulation of ,£127,000, This satisfactory position was mads, known upon the occasion of the new Board's first quarterly meeting yesterday. Thoeo present were the Hon. W. Hall-Jonos (Minister of RailwViys), presiding, air T. Ronayne (General Manager), Dr Fitohett (Solicitor-General), Mr W. J. Poynton (Public Trustee),, Messrs A. Qrahanl told 11. M. Isaacs, representing the first division, Messrs W, Pepper, M. Thomas, and J. Dawson, representing the second division, and Mr B. W. ifoVilly (secretary). The income of the fund last year was reported to have been about £51,260, and the payments in respect of benefit ,£35,351. , Retiring allowances amounting to JEB73 3s 9d were toitHorised in respect to fourteen members, thirteen of whom have retired vonntarily and one in. consequence of being medically unfit An allowance of £lB per annum was granted to the widow of an enginedriver, and an allowance of 5s weekly in respect to the posthumous child of a stationmaster, involving an annual liability to the fund of £3l. Refunds of contributions amounting to £4OB 9s 2d were approved in regard to 54 men who htivo left the service.