SUPERANNUATION.

Waikato Times, Volume 114, Issue 19052, 16 September 1933, Page 3

SUPERANNUATION.

PUBLIC SERVICE FUNDS. ANXIETY AT SITUATION. Telefrrapfa*—“-PrGss association.) ■ WELLINGTON, FTlday. A statement regarding the Government Superannuation Funds Bill was made ‘by the acting-Prime Minister, the Rt. Hon. J. G. Coates, this evening. The Parliamentary Select Committee last session, recommended that the bill be not proceeded with during that session. Mr Coates said a .comprehensive statement of the position into which the funds had since moved was at present receiving the close attention of the Government. The situation was causing anxiety. In view of the fact that members of the Public Service had contributed over £8,000,000, twice as much as the State, to the funds, the Government had a sincere desire to meet its reasonable liabilities and to keep faith with its servants to the .greatest extent possible. Nevertheless, it appeared to he clear that public servants themselves should be acquainted with the present position, which might require that they should accept some modification of the existing and prospective benefits. Prompt action was neoessary, and to accelerate progress Mr Coates said that it had been decided to Invite two representatives of each of the service organisations affected to confer With representatives of the Government, with the object of securing their views and, if possible, reaching an agreement upon some concrete proposals which would lead to results and would'toe satisfactory to all panties- In the light of the necessity of placing the superannuation funds on a permanently sound basis.