RAILWAY SUPERANNUITION FUND.

Te Aroha News, Volume XXVII, Issue 43117, 23 July 1907, Page 4

RAILWAY SUPERANNUITION FUND.

It is not a fact, says the Premier, that the railway superannuation fund is being burdened with a liability of £-30,000 in respect to compensation for loss of office under the Civil Service Act of 1866 and the Government Railways Act of 1887, as suggested by Mr Sidey. Th«» State guarantees the sufficiency of the Government

R/ailways superannuation fund, and although, for a matter of convenience the rights of members of the Railway Service, (who are entitled to com;- 1 pensation under the Civil Service Act of 1866 and the Government Railways Act of 1887 have been reserved,' contingent on. their becoming contributors ,who are entitled to compensation die, the fact must not be lost sight of that the Government Railways Superannuation Fund Act contains provisions whereby demand may be made on the Colonial Treasurer, who, without any further authorisation from Parliament, may pay to the Board from! the Consolidated Fund a sum sufficient to meet any deficiency in the superannuation fund, from whatever cause arising. The intereste of the superannuation fund are! therefore fully safeguarded, and ultimately the Consolidated Fund will! recoup the superannuation fund any moneys that may temporarily be paid from' the fund in'respect to compensation due to contributors for service in the Railway Department prior to the passing of the Government Railways, Act of 1887* t