TEACHERS' SUPERANNUATION.
INCREASED SUBSIDIES REQUIRED. . (t'noii Oun Own Corrcsi'omikxt.) WELLINGTON, August 22. The first actuarial report on the Teachers' Superannuation Fund, which completed five yea in' operation on December 31, 1910, was presented to Parliament to-day. The income during the period amounts to £199.775, of which the principal items are : —Members' contributions, £164,377; Covernment contributions, £19,000; interest. £16,374. The funds at Docomber 31 amounted to £154.212.
The miliary (Mr Morris Fox) shows that the cost of pensions on the lives of te-iche.ns is higher than in the rase of tlie public service, lie estimates that for the years 1911, 1912, ami 1913 the State suhsidies must b? £14.720. £17,090, and £19.520. and he recommends that tlie pro vious subsidy of £7000 should be increased by £10.090 for each year of the current triennium, Mr Fox advises the fiimo caution as in the case of the Public Service Fund in granting any further benefits that may be asked for by contributors or petitioners. He suggests, however, that in the case of a redaction of status owing to advanced age or infirmity the pension should be computed on t.hc higher salary, as is done in the Public Servico Fund.
TEACHERS' SUPERANNUATION.
Otago Daily Times, Issue 15540, 23 August 1912, Page 3
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