SUPERANNUATION

Otago Daily Times, Issue 23517, 3 June 1938, Page 14

SUPERANNUATION

A COMPULSORY SCHEME BENEFITS TO ALL CONTRIBUTORS (Per United Press Association) CHRISTCHURCH, June 2. A superannuation scheme with benefits to all contributors regardless of their incomes is desired by the North Canterbury district of the New Zealand Farmers’ Union. The annual provincial conference passed the following resolution: —“ That this conference recommends the Government to establish a compulsory superannuation scheme, the benefits to apply to all contributors regardless of income on reaching the age of 60 years or previous incapacity, and contributors or their beneficiaries’ interest in the fund to be inconvertible for any purpose whatever. It is recognised that it may be necessary to increase the contributions or limit the benefits payable to contributors according to the age at which they commence paying into the fund. It is recognised, also, that below a certain minimum income an old age pension might still require to be paid as at present to certain persons commencing contributing to the fund at a late age.”