SUPERANNUATION.

Waikato Times, Volume 110, Issue 18393, 29 July 1931, Page 8

SUPERANNUATION.

PUBLIC SERVICE FUND. * “ REVIEW OF PAST YEAR. ADDITIONAL PENSIONS. (Special to Times.) WELLINGTON, Tuesday. The Public Service . Superannuation Fund paid out additional pensions totalling £29,618 during the last financial year, according to the annual report of the Public Service Superannuation Board, which was tabled in the House of Representatives this afternoon. For age or length of service the sum of £23,556 Avas paid to 108 members; for medical unfitness for duty, £2219 was paid to 25 members; to widOAvs and children of deceased members, £2387 per annum to 77 widows and £1248 per annum to 48 children. It Avas shown that neAV contributors aaHo joined the scheme during •the year totalled 930, their total, annual salary being '£146,335, and their total annual contributions to the fund, £BISB, thus . bringing the total contributors to 18,197, Avith a total salary of £4,960,187, out of which they contributed £270,316 to the fund during the year.

The total income of the fund for the year amounted to £537,285, of Avliich £101,361 aavis contributed by the Government and £162,888 came from interest on inA-estments. The .accumulated funds at the end of the year amounted to £2,917,153. The total pensions paid during the year to retired contributors and to their dependants amounted to £381,243, of Avhich £34,695 Avas paid to AvidoAA's and children. TAvelve contributors Avho Avere retired elected to accept a refund of their contributions, amounting to £3536, in lieu of retiring allOAvances. The expenses of adminstration amounted to £B4IB.