RAILWAY SERVANTS

Southland Times, Issue 21835, 12 October 1932, Page 7

RAILWAY SERVANTS

SUPERANNUATION FUND. IMPROVING STABILITY. (Per United Press Association.) Wellington, October 11. A statement has been issued by Messrs Nash, Connelly and Elliott of the A.S.R.S. who also are members of the Railway Superannuation Fund, regretting that when the question of improving the stability of the railway superannuation fund was considered by the Economy Commission opportunity was not afforded the representatives of Division Two or the railway service to tender evidence, as had this been done they believed the finding of the Commission would have been more acceptable to the great bulk of contributors and superannuitants. After referring to a number of points they say: “Whilst reiterating the contracts should not be broken, we unhesitatingly say that if they must be interfered with, there is no reason why those in receipt of large annuities could not be similarly treated and the maximum pension payable reduced to £3OO a year. This would involve a considerable saving to the fund and make its possible retention more justifiable and benefit the great bulk of contributors.”