THE OAMARU MAIL THURSDAY, NOVEMBER 6, 1019. JUGGLING WITH SUPERANNUATION FUNDS.

Oamaru Mail, Volume XLIX, Issue 13906, 6 November 1919, Page 4

THE OAMARU MAIL THURSDAY, NOVEMBER 6, 1019. JUGGLING WITH SUPERANNUATION FUNDS.

Not content with having cast an increased burden upon the Railway Superannuation Fund by means oi large increases to already high-salaried officials, the Government made an attempt' to burden the Public Service Superannuation Fund with a. charge that was not contemplated "when the scheme was inaugurated. That attempt was not made openlv by a direct, proposal to amend the Aei". but in a surreptitious manner by the inclusion of a clause to effect trie purpose embodied in the rmance Bill, to which it was absolutely foreign, and" this at the fag end of the session and in the last hours of an expiring Parliament. There was nothing open and frank about the proceeding, hut the suspicious character of the clause arrested the attention of Sir .losepn Ward, who challenged the Minister oi Finance to state what it meant, and Sir .James Alien was constrained to sav that its purpose was to allow sessional bonuses paid to Ministers' secretaries to ; count in computing their .superannuation allowance. Now what did that proposal involve? In the first, place it ! proposed to enable a few favored individuals to retire on larger annua allowances than the scheme contemplated or those to be benefited had paid for. for the percentage contribution levied on salaries of prospective beneficiaries is not chargeable against bonuses of special character granted for specific purposes of a passing nature. The facts fully warranted Sir Joseph Ward s denunciation of the proposal as ''fhe most- iniquitous thing ever done in this ccuntrv." But if it- had passed it would not have ended there. As the Loader of the' Opposition pointed out a precedent .would have hern set, and the. Government: wouid have had "no eliance of withstanding the demand from the whole of the Public. Service to include the two millions of bonuses to be calculated for superannuation. lhat would, of' course, cast- an enormously increased *1 lability upon fund already doubtful actuarial stability. And who would have had to bearthe. responsibility of that increased liability , J The answer to that question needs no searching for. It is exposed in the fact that' these superannuation funds are i o-fiaranteed by the State. The deficiency created would have had to be made ! good out. of the pockets of the taxi payers, ' who are already overweighted and whose only escape would have been found in the repeal of the 1 superannuation business to the geueral injurv of-those who have been of.icouraged' to anticipate provision for the future when t.hev pet-ire from the; ser- | vice. The- people of the Dominion, it must be recognised, have a vital interest in seeing to it. that these superannuation schemes are not. destroycd_ or crippled bv the peculiar pranks of plastic and pliant Ministers. Happily for the taxpayers of the Dominion and fortunately for the stability of the fund, •the persistence of Sir Joseph "Ward and the surrender of the Prime Minister resulted in the disgraceful proposal being struck out of the Bill", where it--should never have been given an inappropriate lodgment. But the thing should not be permitted to end with the denouement enacted in the House in the early hours of yesterday morning. The people, who are vitally concerned,, liave to deter' mine whether or not the administration of the affairs of the Dominion can be. left in the hands of a Ministry guilty of juggling with fluids that should be hold sacred.- They have to. say whether or not new liabilities shall be imposed upon them in order that an aristocracy of superannuated servants of the- State shall be created.