“NO NEED FOR FEAR.”

Star (Christchurch), Volume LXIV, Issue 925, 21 November 1933, Page 9

“NO NEED FOR FEAR.”

Position of Superannuation Funds. STATEMENT BY MINISTER. Per Press Association. WELLINGTON, November 21. Confidence that the question of superannuation'' would be settled to the satisfaction of all concerned was expressed by the Hon J. A. Young in opening the annual confernece of the executive council of the Public Service Association. The Minister said it was a matter of honour and principle to see that the contract entered into was carried out as fully and faithfully as possible. He reminded the conference that it was necessary at all times to try and see the other point of view, and to endeavour to reach a compromise. He felt sure that they need have no fear for the future, and that things would be all right.

Speaking afterwards, the president, Mr Burgess, said that they wanted the Government to recognise, so far as the public servants were concerned, that there was a definite contract with regard to superannuation. So far as the association was concerned, the important point to bear in mind was that the funds must be conserved on a stable basis. He thought it would be an eminently desirable thing if they could get the Government to point out where it would agree, not necessarily to pay in the back subscriptions it should have paid during the past few years, but to give them some tangible assurance that the interest these funds would have earned would be paid, and that in future it would pay its reasonable share of what it was liable for.