SUPERANNUATION

Te Awamutu Courier, Volume 56, Issue 4055, 1 June 1938, Page 6

SUPERANNUATION

NATIONAL SCHEME NEEDED. MR ATMORE’S VIEWS. “The need for adequate superannuation for about 90 per cent of the people is obvious, and was clearly stated in the House of Representatives lately in figures issued by the International Labour Office at Geneva,” stated Mr H. Atmore, M.P., in a broadcast address from Nelson last Tuesday evening. “ Here is the statement: ‘ Out of every hundred persons reaching the age of 65 years in civilised countries only one can be wealthy, only three can be comfortably off, and only five can be self-supporting.’ This means that only nine oj,it of every hundred persons will have reason to be satisfied with the present monetary system, while ninety-one will be dependent on someone or something, and have, therefore, no reason to be content with their prospects under world conditions to-day. Yet scientists and engineers have given us unlimited powers of producing real wealthfood, clothing, etc.—but distribution is hamstrung by an aichiac, obsolete financial system; nor can the nine fortunate ones explain the situation by calling the less fortunate ninetyone others scroungers and won’t workers.”