TEACHERS’ PENSIONS
GROWING LOSS OF FUNDS. DECREASE IN CONTRIBUTORS. <> Wellington, Dec. 13. A net loss of £106,524, compared with £53,982 in the previous year, is shown in the annual report of the Teachers’ Superannuation Fund for the year ended January 31, 1933, which was presented to the House to-day. Contributors on the roll at the end of the year numbered 9355, a decrease of 609 from the previous year. Their contributions amounted to £113,764, and the Government subsidy and interest made the total income £221,901, compared with £235,560 in the previous year. The total expenditure was £328,425, including £283,738 for retiring and other allowances, £33,478 for contributions refunded or transferred, and £7500 as provision for loss on investment. The previous year’s expenditure was £289,542. The balance at the credit of the fund stands at £1,111,642, compared with £1,218166 for the previous year. The report mentions that payment of the cost-of-living bonus has been continued in necessitous cases.
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Taranaki Daily News, 19 December 1933, Page 5
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157TEACHERS’ PENSIONS Taranaki Daily News, 19 December 1933, Page 5
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