THE PUBLIC SERVICE
SUPERANNUATION FUNDS. IN A SERIOUS POSITION. STATEMENT BY MR COATESi. (By Telegraph.—Press Association.) WELLINGTON, Thursday. Addressing a conference of contrlbutors to superannuation funds and superannuitants to-day, the Hon. J. y* Coates said the funds were in a serious position, which will become impossible at an early date unless dennite steps are taken immediately to stabilise the funds. Already the income is insufficient to meet the outgoings. If the funds are to be made solvent the contributors and annuitants must make sacrifices. The bulk of the funds were invested in mortgage securities, which are practically unrealisable at present. Mr Coates said the funds could be made sound if the contributors and annuitants accepted the lesser benefits recommended by the National Expenditure Commission and embodied in last year’s bill.,
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Waikato Times, Volume 114, Issue 19117, 30 November 1933, Page 8
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130THE PUBLIC SERVICE Waikato Times, Volume 114, Issue 19117, 30 November 1933, Page 8
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