LEGISLATIVE COUNCIL.

Wanganui Herald, Volume XXXXIV, Issue 12945, 9 December 1909, Page 2

LEGISLATIVE COUNCIL.

(Per United Press Association.)

SUPERANNUATION FUNDS

WELLINGTON, December 8

In the Council this afternoon the Hon. Carncross moved that in the opinion of the Council every trading institution that has superannuation or pension schemes and is carrying on business in the Dominion should be compelled to have in connection with such scheme a system of surrender value for the'uenefit of contributors. He pointed to the unsatisfactory state of affairs in this connection at present, and contended that the time would come when the Legislature should take steps to secure to all contributors some share of their contributions upon retirement-

The Hon. Dr Findlay thought if the State interfered with these superanuation funds they might not be carried on, and it would be unwise for the State to do anything that would give the banks an excuse to abolish such a scheme. There was another reason why the State should not interfere. It^as the duty of the Government to proviue superannuation funds for every honest man in the country, and to see that every man should have an opportunity of providing for his old age, and not be like his master's abs — wear out his life for merely provender, and when he is old be cashiered. This was going to be the law of this country sooner or later. Ihe motion was agreed to.

PROGRESS OF BILLS

The Magistrate's Court Amendment Bill was passed.

The New Plymouth Recreation and Racecourse Reserves Exchange Bill and the Timaru Loans Consolidation Bill were read .i second time.

The New eZaland Society of Accountants Amendment Bill was put through its final .stages.

The Reformatory Institutions Bill was committed, reported with minor amendments, and pas.so(l.

The Attorney-General moved the second reading of the Shipping and Seamen's Act Amendment Bill recently pa&sed by the House. The lions. Paul and Jenkinson generally approved of the Bill, which was lead a sstcond time. The Council rose at o p.m.