SUPERANNUATION

Waikato Independent, Volume XXIX, Issue 3160, 9 November 1929, Page 5

SUPERANNUATION

CONSIDERED BY POWER BOIARD. Mr W. Harbutt, on behalf of the committee set up by the Cambridge Electric Power Board to go into the matter of a proposed superannuation scheme for the board’s employees (Messrs W. Harbutt, J. S. Fisher, J. W. Garland and W. Moore), presented the following report to yesterday’s meeting of the board:— ‘/The matter was discussed at some length, the committee’s contention being that at the retiring age an employee engaged on electrical line work would in all probability be incapable of performing efficiently the duties required on this particular work, and that in view of the fact that an entirely new personnel of the board would no doubt then be in office his services would probably be dispensed with long before he was in a position to take advantage of the scheme. The committee were of opinion that under the circumstances it would be in the interest of the employees to take up individual insurance policies. On the motion of Mr Harbutt, seconded by Mr Fisher, it was resolved to defer this matter for the time being, the secretary in the meantime to interview the staff and discuss these questions with them.” Mr Harbutt stated that the committee had gone very carefully into the matter, but could not get much further with the scheme at present, for the reasons explained.

Other members of the committee spoke briefly on the question. It was stated that the board's position was quite different to that of some of the local bodies. The chairman said the committee had given the matter very careful consideration, which the importance of the question demanded. The report was adopted.