EXCESS EXPENDITURE
RAILWAY SUPERANNUATION. YEAR’S TRANSACTIONS REVIEWED. (By Wire—Parliamentary Reporter.) Wellington, Last Night. The Government railways superannuation fund expenditure . last year was £lOO6 in excess of its income, thougi' there was an improvement in the receipts owing to the special subsidy of £87,000 from the Treasury to compensate for the compulsory reduction in interest, in addition to which the annual subsidy from the working railways of £170,000 was paid. The partial restoration of salary cuts and increases in staff resulted in a rise of £3BOO in contributions, but the interest earned was £7226 less. There are 3328 beneficiaries on the fund, including widows and children, and the balance carried forward this year, £1,239,705, is £1125 less than in the previous year.
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Taranaki Daily News, 5 September 1935, Page 5
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121EXCESS EXPENDITURE Taranaki Daily News, 5 September 1935, Page 5
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