SUPERANNUATION.

Sun (Christchurch), Volume V, Issue 1340, 30 May 1918, Page 9

SUPERANNUATION.

A TRAMWAYS SCHEME. Proposals for the establishment of a superannuation fund for employees are at present being considered by the Christchurch Tramways Board and the Tramways Union. Yesterasy afternoon Mr E. E. Hayes, superintendent of the Provident Fund, conferred with the Works and Traffic Committee of. the board, on the subject. Meetings of the employees have also been held this week. Questioned as to the men's views on the scheme, Mr Hiram Hunter, secretary of the union, told a Sun representative that the views which he had heard expressed were unfavourable, and he was convinced that the present scheme would not be taken up by a majority of the employees. The reason for this opposition Mr Hunter attributed in the main to the high rate of contributions to the fund which it was proposed to charge. Motormen 's wages, for instance, varied from 1/1] to 1/3j per hour. The scale of contributions would vary from 4 per cent, on wages for men under .3.0 years of age to 9 per cent, for men 60 years of age. A man of 35, with a wage of £3 per week, would pay 3/- per week in contributions. A man of 40 years of age, with the same wage, would pay 6 per cent., or 3/7 per week; and a man of 45 would pay 7 per cent., or 4/2 per week. These rates were almost prohibitive on men on small wages in times like these, when the cost of living was so high. There were other features of the scheme, which he regarded as inequitable. Personally, he looked forward to the time when there would be a truly national scheme in existence that would have none of the objectionable features which he had in mind.