SUPERANNUATION.

Colonist, Volume LV, Issue 13645, 10 February 1913, Page 4

SUPERANNUATION.

RAILWAY FRMD! IN GOOD

'■. INOOkE; DAIiAN^ES '^XPEND- ■■,.'• ' ■".■! ■ ; ITURE . ;:;V. r-

(Speciai to j'^he Colonist^")

■'■ vi x ; , we"inBton, Feb! 9. Members of the Railway Superannua^ tioii Board were well, satisfied with the reports of its financial position available at the last meeting. They indicate that th o fund has now reached the point at which its income, plus the annual subsidy -from the consolidated revenue, balances, the liability—present and prospective. ' * . ■'

Last session the Ministor of [Railways announced that an actuarial investigation of the fund would take place, arid it is anticipated that the .result wiil not be any cause of anxiety. The improved position is>due mainly to the largely increased number of members: who have to pay 5 per cent contributions. The original 3 per cent contributors are gradually disappearing. They are, of course, mostly drawing pensions now, but their replacement by 5 per cent contributors imnroves the -prospects for'the future. "

■• At the last meeting of the board allowanced involving an annual liability of £2353 wem granted to retiring members, and £49 in: respect o f two: widows and one child; The resignations of members jnvolved the repayment of £2252 in contributions, and refunds of £23* were made to the widows of superannuated members.

Tiie credit balance of the fund 6tand# at £263,000.