THE STATE TAKEN TO TASK
USE OF SUPERANNUATION FUND. EX-M.P.s EVIDENCE AT INQUIRY. By Telegraph.—Press -Association. Wellington, Last Night Evidence was given before the Government Superannuation Fund? Bill’ Committee to-day" by Colonel’ T. W. McDonald, former M.P. for Wairarapa, who said the chief object of the Bill appeared to be to compel annuitants and contributors to pay shortages in the funds caused by default on the part of the State over a period of years when it over-taxed the people by millions of pounds and squandered millions of pounds on unnecessary undertakings. Instead of conserving contributors’ contributions to meet their retiring allowances, Mr. McDonald said, the State used .them to meet current retiring allowances instead of ’meeting those allowances out the State subsidies for back service in accordance with its contract with those who joined the funds.
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Taranaki Daily News, 16 February 1933, Page 4
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137THE STATE TAKEN TO TASK Taranaki Daily News, 16 February 1933, Page 4
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