SUPERANNUATION BILL

Taranaki Daily News, 21 November 1932, Page 7

SUPERANNUATION BILL

THE MEASURE TO PROCEED

PROPOSALS OF GOVERNMENT

making the funds secure

CHANCE SHOULD BE SEIZED

By Telegraph.—Press Association.

Wellington, Last Night.

An indication that the Superannuation Bill will be put through this session was given by the Rt. Hon. G. W. Forbes to a reporter. He thinks the opponents of the measure would be very unwise to hold it up. While the Bill entails some sacrifices it also contains proposals which will make the funds secure, said Mr. Forbes. Even at a time like the present the Government is prepared to do more than has been done in the past, and if this opportunity of putting the funds in . order is not availed of the occasion might not arise again. Mr. Forbes’ explanation of the Bill was that it followed the lines of the report of the National Expenditure Commission, with two exceptions. . One of these was the period of service taken into consideration for the purpose of assessment of superannuation. The commission had recommended that payments should be computed on the average salary over seven years prior to retirement, but the> Bill proposed that payments should be based on the average salary over ten years prior to retirement.

The other exception was that no provision had been made in the Bill for the setting up of a hardship tribunal. It was proposed to leave it to a committee (which would be appointed) to decide whether this tribunal would be necessary. The Bill has been before a committee which has been hearing evidence from organisations concerned.