VICTORIAN PUBLIC SERVICE
SUPERANNUATION FUND MEETING DEFICIT IN FUND. A higher scale of contributions from members of the public service, including the railways, is recommended by the Victorian State Superannuation Board in a report to the Ministry. The increases, it ig claimed, are necessary to meet the deficiency of £360,000 which, according to the report of an actuary who made an investigation recently, exists in the Superannuation Fund. The increases, it is understood, are Id a unit a fortnight at the' age of 16 years, lid a unit at the age of 35 years, and up to 6d a unit at the age of 60 years. If the Ministry adopts the recommendation the higher rates will operate from March 1, instead of from January 1, as suggested by the actuary. The recommendation, however, must, also be approved by Parliament, either in the form of a Bill or by a resolution of both Houses. This will probably be done before the session ends next week.
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Bibliographic details
Otago Daily Times, Issue 21530, 30 December 1931, Page 3
Word Count
164VICTORIAN PUBLIC SERVICE Otago Daily Times, Issue 21530, 30 December 1931, Page 3
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