Railway Insurance Bill.

South Canterbury Times, Issue 7267, 20 July 1893, Page 3

Railway Insurance Bill.

(By Tblegbaph.) WELLINGTON, July 20. At the Railway Insurance Conference the deputation appointed to wait on the Commissioners to obtain information as to the bearing of clause 5, subsection O, on accident and sick pay now granted to railway employees under the rules and regulations of the service, reported that the Commissioners bad promised to extend the present privileges respecting sick pay to all employees, and had stated that if this clause were deleted it would he equivalent to reducing the retiring age to 60 years at the present contribution, 't was, resolved that this clause be deleted from the Bill, and that a letter bo sent to the Commissioners thanking them for the very valuable concession regarding sick pay which they have promised. As to clause 6, subsection 2, it was resolved that two separate tables of contributions be prepared, one porviding for a retiring allowance, and one for an endowment policy, and employees to be allowed to contribute to either benefit, or both ; the contributions to be reduced to the lowest possible limit. It was agreed that six days constitute a week. On clause 6, subsection 6, it was resolved that the Government be asked to subsidise a fund to the extent of not less than 25 per cent, of the total contributions of the employees. Clauses 7 and 8 were approved. It was resolved that clause 9 be amended so as to reduce the age of retirement to 60 years, and that it 1 be at the option of employees whether they

(retire at that age or not. It was also decided to add another clause providing for the retirement at the age of 55 years of any employee who desire fo do so, by paying a larger contribution, and that in drafting the Bill, the Commissioners be asked to furnish tables showing the contributions which would have to be paid in each case. Clause 10, subsections 1 and were, approved with the exception of age reading 60, instead of 65 years. A further recommendation was made providipg that employees who so desire could by paying an increased contribution provide for half-pay superannuation allowance. It was resolved that clause 11, relating to sick allowance, be cancelled, and that clause 18 be mace to read in conformity with clause 6, subsection A, and that provisions re bonus under clause 22 be inserted. Clauses 18 and 14 were approved, and clause 16 cancelled, as it was considered unfair that an employee should be deprived of the benefit to which he is justly entitled by virtue of having paid contributions to secure it. The conference then adjourned MU to-dav. The Railway Conference have sent a letter to the Commissioners, thanking them for tbe way they received the deputation, and the concession promised that if sub-section O of clause 6 is deleted, the present regulations regarding sick and accident pay shall be extended to all employees. At the Railway Conference it was decided to insert an additional clause providing for a Board of Advice, and that three employees to be nominated by the railway authorities and three elected by ballot, meet in. Wellington and compile rules and regulations ; this board to be appointed annually ; officers required by tbe Act to be appointed by the railway authorities. In clause 19 provision is made to issue an annual balance-sheet to all members. In clause 22 it is resolved to add any surplus accruing which should bo dealt with with as each individual contributor may elect either in the form of increased insurance payable at retirement or death, increased superannuation allowance, or to be applied to a reduction of subscription. Provision was added for quinquennial investigation of funds, and the Bill was finally passed.