NATIONAL PENSION SCHEME.

Otago Daily Times, 27 April 1906, Page 5

NATIONAL PENSION SCHEME.

THE GOVERNMENT PROPOSALS.

Further reference to his scheme of national pensions was made by the Premier in opening the Ronall-Sokwy Old lien's Homo at on the 23rd insl.

The Premier prefaced liis remarks by stating that the amount paid in pensions during the past financial war was £254.364, and ho also repeated the arguments which have on many occasions been brought forward liy Ministers in favour of a change in the system of representation of the general hotly of the taxpayers on charitable aid ami hospital boards. He wished, he Mid, to place flic reoipicnts of pensions beyond the reac'i of criticism. In regard to national annuities lie wanted to lead. The scheme was not original. Germany and Belgium were doing something in the matter, but in the British Empire lie wished New Zea'and to lead. His scheme was that anyone should be able to deposit a certain sum monthly, say at the post ollifo. and that the amount would he subsidised by the Government in proportion to the means of the depositor. A poor person's deposit he proposed should lie subsidised to the extent of 25 per cent., and the subsidy would lie increased in proportion to tin; means of the depositor. .Interest and compound interest would lie paid on the deposit, and the whole amount, would provide an annuity for old age. II the husband paid in sometlu'wr ho would not lie allowed to touch it without the consent of his wife, and a. wife making a deposit would not be allowed ro touch it without the consent of her husband. He honestly believed that 90 |K"r cent, of the people of the colony would take advantage of this method of providing for their old-age pensions and for charitable aid. and after all the public purse was the p'nrfo of the i>oop!e, and he hoped the scheme wo"ld lie participated in by all classes of the community, young and old. married and single. They must endeavour to get. the young people to take up the jelienip. All his spare moments were being devoted lu an elaboration of the scheme, so as to make the legislation as perfect as possib'e.