NATIONAL SUPERANNUATION

Wanganui Chronicle, Volume 80, Issue 121, 25 May 1938, Page 6

NATIONAL SUPERANNUATION

Sir. —One aspect of the Govern menu, proposals regarding nationa superannuation appears to haw escaped notice, not only by the Pres: generally, but by the various interest: giving evidence before the committei set up for the purpose. Through the years of depression i considerable number of contributor to existing State schemes found th, burden of paying instalments oi homes, as well as the monthly instai ment to the superannuation fund, al most unbearable. In a large numbe of cases people were compelled to sur render the home and to lose whateve equity existed. The superannuatioi payment was deducted from wage: and to that extent the contribute had no choice. In spite of the fore going, the proposals of the nationa scheme as we know them at this dis tance, contain nothing that woul tend Io make some kind of recom pense to the individual who has mad real sacrifices, in order to provide fo the sunset of life. It would appear, too, sir, that i “means test” is to apply to contribu tors to existing funds; on the othe hand no such “test” will be taken inti account with any other form of sav ing, up to a limit of £5OO. I fail, utterly fail, to see any glean ot logic in a proposal of that sort. Ii plain, understandable English i means that one may choose any kin of facility for saving whatsoever, saw an existing superannuation schent and one will not be penalised. Surely this is “Alice in Wonderland” reason ing, but nevertheless that is the pro posal that will in due course tak legislative shape. In closing, sir, one need hardly sa; that the matter is of major import ance to a large number of contribu tors, and is exercising the minds o the public generally.—Yours, etc. SYDNEY G. PEARCE.