PUBLIC SERVICE

New Zealand Times, Volume XXXVIII, Issue 8734, 16 May 1914, Page 5

PUBLIC SERVICE

SUPERANNUATION BOARD DECISIONS. At the quarterly meeting of the Public Service Superannuation Board this week tho members present were the Hon. r. IL D. Bell (chairman), and Meesra Allport, Bishop, Blow, 1.5.0.Combs, Ellison, Huggins, Macdonald, and Richardson. The secretary announced tho election of Messrs Combs and Macdonald as new members of 'bhe board. f A letter was received from a contributor suggesting that power should be given to the board to invest a portion of the accumulated fund in the purchase of houso properties occupied by contributors earning £2OO or less per annum, repayment to be made by instalments. It was resolved that the board could not agree to tho proposal. It was resolved 'to recommend the Government to amend tho Act.so as to allow contributors who may leave the service and afterwards re-enter to again contribute to the fund, as the law does not permit this to bo done at present. It was resolved to recommend tho Government to amend tho Act. so that allowances in the nature of permanent remuneration could be included as salary for superannuation purposes. A committee consisting of Messrs Allport. Huggins, Macdonald, ' and Richardson was set up to somader any amendments of the Act or new legislation which may be proposed during tho coming session, and to confer with the Government and the Government Actuary thereon. Superintendent Ellison was appointed a member of the claims committee. . A committee, consisting of Messrs Allport, Campbell, Huggins, and Richardson, was appointed to prepare the annual report to Parliament. Qri the motion of the chairman of tho claims committee (Mr AUport). retiring allowances were granted to eighteen contributors; by reason of ago and length of service, amounting to £3*135 19s por annum; to one contributor, retired as medically unfit, for the amount of £134 9s per annum; and to nine widows and six children for a total of £240 per annum. The average allowance granted, excluding widows and children, is £133 5s 8d per annum. Tho amount of accrued compensation duo to officers retired is £5460 7s 3d. Tho question of amalgamation with tho teachers’ superannuation fund in the investment of tho surplus revenue was referred to tho legislation committee.

Tho secretary reported that the amount to tho credit of tho fund, in the hands of tho Public Trustee, on the 30th tilt., was £604,372, an ■ increase during the preceding year of £116,865.