SUPERANNUATION

New Zealand Times, Volume XXXVII, Issue 8481, 16 July 1913, Page 3

SUPERANNUATION

MUNICIPAL SCHEME CITY COUNCIL TO HAVE REPORT FROM ACTUARY. Superannuation for municipal employees was discussed by* the City Council last night, when Councillor R. Fletcher moved— That it is desirable that a scheme of superannuation for the employees of the corporation be established on the lines of the Local Authorities Superannuation Act. IhJS, and amendments 1912. and that with this end in view the council hereby- resolves to obtain as soon as possiole an actuarial .report on the whole question, snowing what respective contributions from the corporation and the employees aie necessary to aiford reasonable benefits to the contributors as well as to make the scheme hnanciaily sound.

Councillor Fletcher pointed out that the motion did not commit the countii to anything beyond the pieparatinu of a report whicn would cost between .UtO and TSt). It was time that this council should do something lor its old employees, as many other public bodies bad done and were doing {superannuation was a much bettor way of ueauug old servants than tne plan of giving compassionate allowances. The motion was seconded by Councillor -buokie. who said the plan deserved every consideration. Councillor Tregear supported the motion, saying that the ex-sience ol such a scheme would not only bo a great benefit to the men, but would mean that the ouipoiuliuu would secure much better service from its employees. ' The hope was expressed by Councillor Fuller that the council would not waste money getting a report on the matter, ouporaimuation was a very crude way of dealing with the pro position. vvny snould the employees of the Government or local oouies be placed in so much better a position than men working lor private employers! Superannuation was riskv and unsound in pitnciple. Tne national Provident Fund was ever so much better. Councillor Frost agreed with these sentiments. The proposal, he said, meant taxing the ordinary ratepayer to provide superannuation for men who were in permanent employment. Ho objected to the tiling on pmic-nla-Councillor i'itzgerald spoke in suppoxt of the motion. The council should nrst obtain the suggested report and then discuss the principle of tue thing in the light of fuller information. Several otner councillors spoke briefly to the motion. The Mayor declared that "the sooner the council was able to bring a superannuation scheme into operation the better it would be. The council's emp.oyees should not have to appioach the council asking for compassionate allowances when no longer able to work. He was sure the ralepayeis as a whole would not object to the scheme if it were started on a sound financial basis. The principle was undoubtedly a good one. f ‘What do you do in your own business i" asked Councillor Fuller. "every one of our employees has an interest in making the business a success," replied the Mayor." “Rut w© are not discussing my business or your business either." _ , Councilor Puller; Hear, hear. We ora talking of the principle. ~ jr , lu reply. Councillor Fletcher said that the National Provident Fund was a very good one, but the council had no right to wait till its old servants sore dead and buried before doing something for them. . , ' , . The motion was earned by 13 votes to 3, those voting against it being Councillors Atkinson. Fuller and Frost. On the motion of Councillor Fletcher it was also agreed that Mr Morris Fox. Government actuary, be asked to furnish the report.