CIVIL SERVICE SUPERANNUATION.

Otago Daily Times, Issue 13421, 23 October 1905, Page 2 (Supplement)

CIVIL SERVICE SUPERANNUATION.

THE GOVERNMENT PROPOSALS.

WELLINGTON, October 10.

Tho Government's proposals ill rcspcct to a superannuation scheme (or tho civil ecrvicc wero laid beforo Parliamont jo-day, when tho Civil Scrvieo Superannuation Bill was reintroduced. The bill proposes to establish a fund to consist of contributions from members, all moneys, already accrucd from fines imposed for breaches of any regulations mado under the act relating tu tho service, and all fitfes and penalties here, after imposed for breaches of tho regulations, moneys at any timo paid into tha fund by way of Government guarantee, and interest from time to timo accruing from tho investment of tho fund. Any person employed in any capacity in tho service, and who has been continuously employed in any department for a period of five years or upwards, mav\ at any timo within six months after tho commencement of tho act elect to become a contributor to tho fund. If lie so elocts lie is to be entitled to all tho benefits of tho fund, subject lo tho provisions of the act, and no further deductions are io be made from his salary under "Tho Civil Scrviee Roform Act, 1856," "Tho Post and Telegraph Classification and Regulation Act, 1830," and "The Civil Service Insurance Act, 1893." If lie does not so elect, he is not at any future timo to become a contributor to the fund or participate in its benefits, but he is to continue to be entitled to any rights to which, but for tho passing of the act. ho would havo been entitled. Every person who docs not elect to become n contributor, and who has hitherto had a deduction made from his salary under the acts mentioned, is to continue to pay the deductions as before. After the commencement of the act contribution to tho fund is to be a condition of employment. Contributions to be deducted from pay are to bo bused—As to perron* who aro members employed at the commencement, of tho act, if bis age is not more than 40 years at the time when the first contribution becomes payable. 5 per cent.: 40 years, hut does not exceed 45 years. 6 per cent.; 45 years, but docs not exceed 50 years, 7 per cent.; if his ago then exceeds 50 years, 10 per cent.; persons who are appointed after the commencement of the act, 5 per cent.

Every person who Ims offccted a policy on his life undor the Civil Service Insurance Act, and who clods to become n contributor, is to ho enlillcd, at his option, either to k«>p tho policy alive independently of this act, or have the surrender value of the policy paid to the Public Trustee to his credit, to he invested independently of this fund for his benefit, or receive a paid-lip policy of an amount according to scale fixed by regulation, but subject to the fame terms and conditions as the original policy. Tim fund is to be administered by a board consisting of nine members—namely, a Minister of tlio Crown, the Solicitorgeneral, secretary of the Post and Telegraph Department, Undersecretary of tlio Colonial Secretary's Department, two members to bo elected by the Tost and Telegraph Department, and three by the other departments of the service.

Every male contributor whoso length of service is not less than 40 years, or whoso ago is not less than 60 years, may retire from tho service- at three months' notice, and his retiring allowance is to be computed as follows:—For every year of servico ho is to receive one-sixtieth part of his annual rate of pay, but in no case is the rotiring allowance to exceed two-thirds of tho annual rate of pay. The board may extend these provisions to any case wliero tho contributor's serviV, is not less than 35 years, but does not ifmount to 40 years. Every female contributor whoso length of service is not less than 30 years, or whoso age is not less than 50 years, may, in like manner, retire. For every year of Eorrico sho is to receive one-sixtieth part of her annual rate of pay, but in no case is tho retiring allowance to exceed two-thirds of tho annual salary. In every case where any retiring allowance granted to a member is computed on the basis of his pay, the pay is to l'p deemed to lie the rate of pay he is receiving at the time of his retirement, unless within tlio previous five years he has served in any grade lower than that held by hint at the timo of retirement, jn which case the pay is to bo deemed lo be the average into of pay received by him during the seven years lioxt- preceding his retirement. In no caso is any retiring allowance to bo in any way assigned, transferred, or bo capable of being alienated from ,tho grantee either by his own action or by operation of law. ' Tho Government guarantees any deficiency in tho fund. Tiio provisions of tho act are not to apply to persons entitled to superannuation under " Tlio Civil Servico Act, 1886." Special provisions are made to enable tho Police Force to come under the act. A majority of votes at a ballot shall decide tho point. If a majority favour the scheme tho Police Provident Fund shall bo abolished, and the amount then standing to its credit shall be paid by the Public Trustee into tho fund established under the act. All contributors to the Police Provident Fund shall bo deemed to be contributors to tlio fund established under this act, ami shall thereafter contribute thereto at tho rato prcscrilicd by this act for the ago of each such contributor at the date when his first contribution became payable tinder "Tho Polico Provident Fund Act, 1899." All retiring and other allowances then payable under tho last-mentioned act shall, from timo to time, be payablo out of the Civil Scrvico Superannuation Fund. All persons thereafter appointed to tho Polico Forco shall become contributors to the Civil Servico Superannuation Fund The Commissioner of Police for the time being and one ]>orson (to bo elected by the members of tho Police Force from among their num- • her) shall be added to tho Civil Service Superannuation Board. There aro alsD special' provisions in the bill to onablo the employees of the Wellington aud Maniwatu Railway Company to join tho fund.