SUPERANNUATION.

Timaru Herald, Volume XIIIC, Issue 13714, 2 October 1908, Page 7

SUPERANNUATION.

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For every year of the contributor's length of service the contributor shall receive one-sixth of his or her annual salary, and for every fraction of a. year of that length of service the contributor shall receive a proportionate part, of one-six-tieth of that annual salary, but. in no case shall the retiring allowance exceed tiro-lhirda of .that- salary.

Contributors upon retirement, m*? elect. j to take the total amount, of their payi ments in lieu of. (he retiring allowance, ! while peisons retiring voluntarily or dis- | charged are to be entitled to. a refund | of their payments without, interestI If any male contributor or annuitant j die?, the following provision shall apj ply : If he leaves a wife surviving him, i there shall be paid out, of the fund to I the widow at her election cither an auj nuity nf £lB during her widowhood or j the itmount of the contributions made by i the deceased to the fuisd le.-s any sums ! received by him from the fund iu his • life-time. ■

! In respect nf his children under thi- ! age of lourteen year?, a. payment, of 6s i weekly will lis made until that age is : reached. ". - :

! I'LJILIC* SEfiVICt -SCHplfc ; j The fell amending: the L'ivil Service j Classification and S'nperaiinua tion -Wis I provides for (i! S new sthenic of -supcy- | anmtation for tlie education ? service, ! which, as far as practicable, will Be the '■ -ame as that, established -for the .'public • service: (2) placing the ptftce" force- in ! th« same position Ha the rei-). of.,the -public : -.ervice in regard to superannuation; <,Ji . making certain miscellaneous 'ajueiidfoieiils

;in the public service i-Miporauiiuation" = echeinc; and ;;i> making . \>fe?.is ions «-_ j .-p.cling broken tlm-i ill th'<?*, lafhtK.v scri vi,;p; - . - . ." ; . '. , '-'■ j 111: teachers - iiiperanliuatloii SUr.nu ; is to continue to exist separately, but the ■ ieLtrinc allo"aiice for contributors is

j based on their iJnal i-alary instead of ; id their average .salary during the period lof tluir service. Existing contributor. I will count the whole ol their luck ! service instead of only 'one-half of ' it. a.- at present. An . annual aiib- : s:dy "f ii/ 000 is provided for j >he teachers' superannuation fund," cor-. : iv-pouding to the subsidy of_ i;2O,C(XJ j provided "by the Act of 190/ for the Public Service Superannuation Fund. I The Police Provident Fund iilitl ; the • machinery attaching thereto ate abolished, land the liabilities of the fiind ato tians j letted to Iho Public Service Superaunua j tmn Hind. The police dipanuienl- nib ' haie the right tto elect ona member ot I the Superannuation Hoard. All persons j hereafter appointed |o the* police force ate , to bv tome contributors to the Public I nice Superannuation Fund ou the t -jhuk j t etms as other public scivants. All j existing contributors l<> the Police Pruvij dent Fund become, on tlie par-sing of I (h.» Act. contributors to the Public SerI vice Superannuation Fund on "the fcame ! u-niis as other public .servants, save that ■ within six months front tho passing of [ilk- Act any such contributor may elect | to . remain subject to the existing piovi- | sioii.s- governing; polio superannuation. ! The Government subsidy of £20.000 pro vided bv the Public Service. Superannuation Ac!. 1907,' is ■ increased by £3OOO to mift: the additional expenditure, imposed i.u the fund by the inclusion of the po i lice force.

The miscellaneous amendments "to the

: Public Service Superannuation scheme I »iv not of an important character.. It lis made Hear flint- any contributor 'who : attains- the mjuircd age or length of

I service is entitled to a, letiring allowance j whether ha retires voluntarily or nun- : pulsorily. After live year.-*' seivice a temporary servant becomes a. permanent ! nfticiaJ. '■■ This provision, by virtue ol j the Hill, i* 'exk-uded to the post' and ' telegraph service. j,