PUBLIC SERVICE SUPERANNUATION BOARD (FIRST ANNUAL REPORT OF THE), FOR THE YEAR ENDED 31st DECEMBER, 1908.

Appendix to the Journals of the House of Representatives, 1909 Session II, H-26

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1909. NEW ZEALAND.

PUBLIC SERVICE SUPERANNUATION BOARD (FIRST ANNUAL REPORT OF THE), FOR THE YEAR ENDED 31st DECEMBER, 1908.

Presented to Parliament pursuant to the Provisions of " The Public Service Classification and Superannuation Act, 1908."

REPOET. The Board has the honour to submit the following report upon the transactions in connection with the Public Service Superannuation Fund. The Eevenue Account, Balance-sheet, and statements regarding membership and retiring and other allowances will be found appended. Board. —The Board established under the Act to administer the fund consists of ten members —namely, the Minister of Internal Affairs; Colonel E. J. Collins, 1.5.0. ; Messrs. W. C. Kensington, 1.5.0., J. W. Poynton, and J. H. Richardson, appointed by the Governor in Council; Messrs. H. A. E. Huggins and W. McNiekle, elected in July, 1908, by contributors in the Post and Telegraph Department; and Messrs. G. Allport, H. W. Bishop, and H. E. Spence, elected at the same time by contributors in other Departments of the public service. The Minister of Internal Affairs is Chairman of the Board. Contributors. —The Act came into operation on the Ist January, 1908. All persons permanently employed in any capacity in the public service of the Dominion at that date, as well as those who had then been continuously employed in any one or more Departments for a period of five years or more, had the option of becoming contributors. All persons permanently appointed to the public service after the coming into operation of the Act are contributors as a condition of their employment. The following table contains particulars of the public servants who, being eligible to join the scheme on the coming into operation of the Act, did so during the year:—

Bate per Cent, of Contribution as provided by the Act. Number. Annual Salary. Annual Contributions. Male. Female. Total. 5 6 7 8 9 10 2,796 695 599 492 478 919 357 77 51 28 21 38' 3,153 772 650 520 499 957 £ s. 299,329 18 131,651 17 125,518 15 114,919 11 123,128 6 239,973 13 d. 4 6 0 8 8 4 £ s. d. 14,966 9 11 7,899 2 3 8,786 6 3 9,193 11 4 11,081 11 0 23,997 7 4 Total ... 5,979 572 6,551 1,034,522 2 6 75,924 8 1

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The following table contains particulars of the new contributors who were not eligible at the time of the coming into operation of the Act, or were not in the public service at that date, and who joined the scheme during the year : —

The. following table contains particulars of the public servants who were contributing to the fund at the end of the year (after allowing for deaths, retirements, and withdrawals), grouped according to their respective rates of contribution : —

Full particulars regarding contributors, including those who have retired from the Government service and are now on the fund, will be found in the statements appended, Retiring and other Allowances.— Pensions for £8,950 18s. 10d. per annum were granted during the year, as follows: For age or length of service, £6,657 9s. 9d. per annum, to 74 members (72 male and 2 female members). For medical unfitness for duty, £1,836 9s. Id. per annum, to 20 members (17 male and 3 female). To widows and children of deceased members, £234 per annum to 13 widows, and £221 per annum to 17 children. The largest retiring-allowance granted to a member was £445 ss. 7d., and the smallest £3 13s. per annum, while the average was £90 7s. Bd. One retiring-allowance was discontinued by death, and one child reached age 14, and the allowance consequently expired. The annual amount payable at the close of the year was £8,880 18s. 10d., as shown in the statement attached. Incom-e.— The total income for the year was £76,211, made up as follows :— £ Members'ordinary contributions ... ... ... ■•• 54,730 Members' contributions to enable previous service to be counted, as provided by the Act ... ... ... •••• ■■■ 103 Contributions from Government ... ... ... ... 20,000 Fines ... ... ... •■• •■• ■•• 83 Interest ... ... • ■ ■ ■ • • •• • • • • l> 295 Total income for the year ... ... ... 76,211 The members' ordinary contributions given above do not relate to the whole year, owing to the fact that many contributors delayed joining until the last day allowed by the Act—viz., the 30th June, 1908. Had all those eligible on the Ist January, 1908, joined on that date and contributed for the whole year this item of the revenue would have amounted to approximately £75,000. Two contributors availed themselves of the provisions of section 50 of the Amendment Act enabling them to count previous service by paying five years' contributions. The amount so paid was £103.

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Bate per Cent, of Contribution — as provided by the Act. Male. Number. Female. Number. Total. Annual Salary. Annual Contributions. 5 6 7 8 9 10 557 65 41 34 20 33 202 18 10 12 3 759 83 51 46 23 33 £ 8. 46,591 15 10,639 3 7,745 0 7,543 2 4,019 11 6;038 0 d. 0 4 0 6 8 0 £ s. 2,329 11 638 7 542 3 603 9 361 15 603 16 d. 9 0 0 0 3 0 Total ... 750 245 995 82,576 12 I) 5,079 2 0

Bate per Cent, of Contribution as provided by the Act. Male. Female. Number. Total. Annual Salary. Annual Contributions. 5 6 7 8 9 10 3,249 738 623 520 484 855 522 92 57 37 24 34 3,771 830 680 557 508 889 £ s. a. 359,586 13 4 143,064 11 8 131,938 6 8 123,259 9 7 126,725 16 8 227,660 10 10 £ s. d. 17,979 6 8 8,583 17 6 9,235 13 8 9,860 15 2 11,405 6 6 22,766 1 1 Total ... 6,469 766 7,235 1,112,235 8 9 79,831 0 7

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Outgo. —The pensions paid to retired contributors or to the dependants of deceased contributors during the year amounted to £3,355 lis. 7d.—viz., £3,141 14s. 9d. to members, and £213 16s. lOd. to widows and children. This represents payments for portions of the year only. Eefunds of contributions to contributors who have left the service amounted to £421 ss. Bd., while the refunds to personal representatives of deceased contributors amounted to £40 19s. 4d. Two contributors were transferred to other funds in accordance with the provisions of section 48 of the Amendment Act, and their contributions, amounting to £21 175., were accordingly transferred to such other funds. The salaries of the staff (excluding that of the Secretary, paid out of the Consolidated Fund, as provided under section 25 of the Act) and other office expenses were £407 16s. Bd. and £111 14s. Id. respectively. Expenses (mostly postages) in connection with the election of the representative members of the Board amounted to £24 9s. lOd. The travelling-expenses of the elected members of the Board amounted to £21 ss. 4d. Such expenses do not cover a full yearly period, as these members were not elected until the latter half of the year. The Public Trustee's charges for commission (at the rate of £ per cent, on all contributions received, excluding the Government contribution of £20,000, and 5 per cent, on all interest collected, excluding interest paid by his own office), including that accrued due, amounted to £324 12s. 4d. Accumulated Funds. —These amounted at the end of the year to £71,481. The Balance-sheet. —On the 31st December the total assets of the fund, which include provision for the outstanding accounts, shown as liabilities, amounted to £71,993. The balancesheet appended gives full particulars as to the assets. In terms of the Act the moneys received on account of the fund are placed with the Public Trust Office for investment, and at the close of the year were invested by the Public Trustee as follows: — £ s. d. On mortgage at 5 per cent. ... ... ... 15,700 0 0 4i per cent. ... ... ... 88,000 0 0 In common fund at 4 per cent.... ... ... 10,660 8 1 64,360 8 1 General. —ln concluding its first annual report, the Board desires to draw attention to the manner in which the scheme has been appreciated by the members of the public service of the Dominion, the great bulk of whom have become contributors. The benefits to the members and their dependants are so obvious that there is no occasion to enlarge upon that aspect of the matter. It may, however, be pointed out that the tendency that a fund of this nature, giving a pension increasing with the time employed, must inevitably have of binding men more closely to the service, and therefore of preventing the loss of trained and experienced officers, must be of great advantage to the Dominion. The services of such officers will be retained during their period of greatest usefulness, and, when the time does unfortunately arise when, through age or infirmity, they can no longer efficiently perform their duties, the scheme provides for their retirement with an assured future, and thus obviates the possibility of the service not being maintained in some directions on that efficient and vigorous footing so necessary to the satisfactory conduct of the public business. D. Buddo, Wellington, 13th July, 1909. Chairman. Public Service Supebannuation Fund. Revenue Account for the Year ended 31st December, 1908. £ s. d. Retiring-allowances— £ 8. d. Amount of fund at the beginning of the To members .. .. .. 3,141 14 9 year .. .. .. .. .. To widows and children .. .. 213 16 10 Members' contributions— Contributions returned— Under section 29 (ordinary) .. .. 54,729 12 0 Under section 41 (left servioe) .. 421 5 8 Under section 50, Amendment Act .. 103 10 0 Under section 42 (deaths) .. .. 40 19 4 Transfers from other superannuation Transfers to other superannuation funds .. .. .. .. .. funds .. .. .. 21 17 0 Government contribution .. .. 20,000 0 0 Compensation (seotion 32, (f)) Fines .. .. .. .. 82 12 9 ExpensesInterest .. .. .. .. 1,294 18 6 Salaries .. .. .. .. 407 16 8 Office expenses .. ... .. 11l 14 1 Election expenses .. .. .. 24 9 10 Board members' travelling-expenses 21 5 4 Publio Trust commission .. .. 324 12 4 Amount of fund at the end of the year .. .. .. .. 71,481 1 5 £76,210 13 3 £76,210 13 3

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Balance-sheet at the 31st December, 1908. Liabilities. Assets. £ s. d. £ s. d. Fund as per Revenue Account .. 71,481 1 5 Amount invested with the Public 'Retiring and other allowances due, in Trustee— .. .. .. 64,360 8 1 course of payment— * Contributions due, in transmission— Members .. .. .. 83 18 9 Members'ordinary .. .. 7,047 1 5 Widows and children .. .. 15 11 4 Under section 50, Amendment Act, ♦Refunds of contributions due, and in 1908 .. .. .. 31 0 0 course of payment— Transfer from other funds Under section 41 (left service) .. 119 2 0 'Fines due, in oourse of transmission .. 8 6 3 42 (deaths).. .. 24 14 4 'InterestTransfers to other funds .. 21 17 0 Due, in course of transmission .. 015 0 •Compensation due, and in course of pay- Accrued, but not due .. .. 545 12 9 ment 'Expenses due, in course of payment— Office expenses .. .. .. 10 6 3 Board members' travelling-expenses 5 15 0 Publio Trust commission (accrued but not due) .. .. .. 186 7 7 Suspense Account (contributions paid in advance and in error) .. .. 44 9 10 £71,993 3 6 £71,993 3 6 * Included in tbe corresponding items in the Revenue Account. Amelius M. Smith, Secretary. M. Pbaseh, Book-keeper. Public Service Superannuation Office, Wellington, 30th March, 1909. Examined and found correct. — Jas. B. Heywood, Assistant Controller and Auditor. 12th May, 1909.

Public Service Superannuation Fund. Statement of Contributors for the Year ending 31st December, 1908.

Particulars of Contributions discontinued during the Year.

Progress of Contributors since Date of Establishment of the Fund to 31st December, 1908.

Wellington, 31st May, 1909. Amelius M. Smith, Secretary. M. Fbaser, Book-keeper. Compared with the books of the Board and found correct.— J. K. Warburton, Controller and Auditor-General.

M. N Number. dumber P. r. Total. Annual Salary. Annual Contributions. £ s. d. £ a. d. Contributors at the beginning of the year New contributors entered during the year Contributors transferred from other funds .. Increase by promotion during the year 6,729 817 7,546 1,117,098 15 0 37,767 19 7 81,003 10 1 2,80i" 7 0 Total .. 6,729 817 7,546 1,154,806 14 7 83,304 17 1 Contributions discontinued during the year .. 260 51 311 42,631 5 10 3,473 16 6 Total contributors at end of year .. 6,469 766 7,235 1,112,235 8 9 79,831 0 7

Number. Retiring and other Allowances granted. How discontinued. Annual Salary. Annual Contributions. Amount paid on Retirement. M. F. Total. Sy death before retiring-allowance entered upon (sees. 42 and 43) Sy retirement before retiring-age (sec. 41) iy retirement medically unfit (sec. 36) .. Sy retirement at retiring-age or for length of service (see. 35) Sy transfers to other fuDds Sy reduction 23 147 17 72 2 43 3 2 25 190 20 74 £ s. d. 4,394 2 6 17,019 3 4 4,244 5 0 16,384 5 0 £ s. a. 359 4 5 1,057 13 1 364 12 6 1,638 8 6 £ a. d. 40 19 4 421 5 8 £ s. d. 437 0 0 1,838* 9 1 6,657 9 9 1 1 2 390 0 0 199 10 0 39 0 0 14 18 0 21 17 0 Total 260 51 311 42,631 5 10 3,473 16 6 484 2 0 8,932 18 10

M. N Number. dumber F. r. Total. Annual Salary. Annual Contributions. 'otal entered 'otal discontinued 'otal existing at 31st December, 1908 6,729 260 6,469 817 51 7,546 311 £ s. d. 1,154,866 14 7 42,631 5 10 £ s. d. 83,304 17 1 3,473 16 6 766 7,235 1,112,235 8 9 79,831 0 7

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Amelius M. Smith, Secretary. M. Feasee, Book-keeper.

Public Service Superannuation Fund. Statement of Retiring-allowance List for Year ending 31st December, 1908.

Wellington, 31st May, 1909. Examined and found correcc.— J. K. Wabbubton, Controller and Auditor-General. 9th June, 1909.

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Section 35: On Attainment of Ketiring-age or for Length of Service. Section 36: Medically unfit. Section 42: Widows. Sections 42 (c), and 43 (a): Children. Total Betiring-allowances. Number. M. F. I Annual Amount. Number. M. F. I Annual Amount. Number. Number. Annual Amount. Number. M. F. I EH Annual Amount. Amount. M. F. I F. Retiring-allowances at beginning of year New retiring-allowances granted during year at retirement New retiring-allowances granted after retirement .. & s. d. 6,657* 9 9 20 £ s. d. 1,838 9 1 £ s. d. 216 0 0 '■7 17 £ s. d. 221 0 0 24 123 £ s. d. 8,932 18 10 72 ■2 74 17 '3 12 i° 99 I 1 18 0 0 •• 18 0 0 li 1 I •■ ■• •• •• Total Betiring-allowances discontinued during year 1 2 74 1 6,657 9 9 57 0 0 17 3 20 ! 1,838 9 1 13 234 0 0 10 1 1| 221 0 0 13 0 0 99 25 124 1 2 24 122 8,950 18 10 70 0 0 8,880 18 10 Retiring-allowances existing at end of year 71 2 73 6,600 9 9 17 3 20 •• 1,838 9 1 13 ! 234 0 0 I •• — I 10 6 16 208 0 0 98 Particut \ars of Retiring-allowances discontinued during the Year. How discontinued, — By death .. By expiry .. 1 1 57 0 0 •• - - 1 l 18 0 0 1 1 1 1 57 0 0 13 0 0 Total 1 1 57 0 0 — 1 1 13 0 0 1 1 2 70 0 0 •• •• •■ •• Progres, of Retiring-allowances » Ince Establi; \ment of the Fund to 31st Dece: her, 1. 08. Total granted Total discontinued Total existing at 31st Deoember, 1908 72 2 74 6,657 9 9 1 .. 1 57 0 0 71 2 73 6,600 9 9 17 3 ! 20 17 3 20 1,838 9 1 13 234 0 0 1,838 9 1 13 234 0 0 10 7 1 10 6 17 221 0 0 j 99 25 124 8,950 18 10 1 13 00J112 70 00 16 208 0 0 98 24 122 8,880 18 10

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PUBLIC SERVICE SUPERANNUATION FUND. List of Retiring-allowances current on 31st December, 1908. Under Section 35 (Age or Length of Service).

Examined and found correct.—J. K. Waebueton, Controller and Auditor-General.

Under Section 36 (Medically Unfit).

Examined and found correct. —J. K. Wabburton, Controller and Auditor-General.

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Registered No. Name. Annual Amount. 85 64 65 6 40 7 66 48 9 10 11 12 13 49 70 14 83 15 16 67 50 68 51 52' 53 78 43 17 18 19 82 3 20 55 113 79 69 Alfrey, Alfred Anderson, J. J. Austin, Thomas Barron, John Beasleyj Kate Beere, George A. ... Bell, James Bentley, W. H. Bloxam, A. R. Brock, Sarah Burrows, P. F. M.... Cameron, James Campbell, Duncan ... Christie, Walter Clough, Thomas E.... Cox, 0. C. Dick, John Donovan, Edward ... Douglas, Charles E. Douglas, Thomas ... Evans, William B— Fraser, Alexander ... Fullarton, B. Gibson, Joshua Graham, C. C. Grant, John Greenwood, G. L. ... Hargood, H. H. Harlow, W. B. Hodge, Henry Jacobs, N. . ... Janion, Charles Kent, Samuel Kilfoyle, F. King, W.J. Larchin, Thomas ... Lawton, James £ p. d. 17 13 10 74 10 8 23 9 6 96 5 0 12 9 9 48 6 5 46 7 2 41 2 10 207 16 8 66 9 2 47 13 4 86 17 9 77 13 8 126 13 4 142 9 3 81 6 8 20 18 0 35 9 6 85 0 0 92 11 2 90 8 4 150 6 3 120 9 11 13 0 10 180 0 0 76 4 7 247 10 0 36 5 8 42 0 0 76 13 4 47 11 7 53 6 8 80 12 0 -78 1 5 3 13 0 204 16 2 83 5 0 Carried forward ... 3,015 8 5

Registered No. Name. Annual Amount. 22 24 47 44 56 87 45 57 21 81 89 58 75 5 25 59 26 27 28 30 31 34 33 32 46 80 35 36 60 37 90 61 38 62 76 63 Brought forward ... MacGoun, D. M. ... MacKenzie, George March, John E. ~ ... Mason, Henry Miller, Robert Mills, Alfred Monaghan, Charles Moore, John Morcom, George Morrow, Arthur McKay, Alexander... McKellar, John O'Oallaghan.W.G.P. Oxner, B. E. Parlane, William ... Raymond, J. W. Read, E. K. Reade, George A. ... Revell, F. W. Rodger, James Sage, Clifford Schwartz, A. J. E.... Shanks, C. B. Shirley, T. E. Smith, Llewellyn ... Sutton, W. A. P. ... Taylor, H. S. Thompson, Henry .. Thomson, James E. Tole, William Turnbull, R. Valentine, James ... Weaver, J. H, Williams, W. H. ... Witheridge, J. Wood, Charles £ s. d. 3,015 8 5 48 0 0 82 10 0 265 3 8 51 2 0 13 10 1 61 5 4 104 0 0 125 0 0 81 15 7 199 10 9 240 4 5 71 13 11 210 10 0 19 14 9 86 17 10 58 11 8 75 12 10 233 6 8 41 14 8 46 9 7 89 8 11 69 7 8 231 5 0 77 12 6 246 13 4 19 18 5 47 2 0 170 0 0 75 0 0 79 12 1 43 16 4 29 6 8 56 18 8 63 18 10 100 17 2 67 10 0 Total ... 6,600 9 9

Registered No. Name. Annual Amount. £ s. d. 41 39 86 42 74 96 8-1 54 72 99 Beasley, R. T. N. ... Bell, John Clegg, Albert J. Connell, Alex. Cutler, A. H. Dow, David Gentles, James Jones, Thomas Kilvington, W. Luckie, D. M. 98 16 4 155 0 0 63 12 10 90 13 4 34 11 2 74 16 2 83 11 5 51 15 1 • 55 13 5 445 5 7 Carried forward ... 1,153 15 4

Registered No. Name. Annual Amount. 1 71 97 23 73 29 2 77 91 4 Brought forward... MacKellar, M. J. ... Mundy, E. J. McCabe, Kate Mclsaac, W. R. ... Ready, Lizzie Richardson, T. E. ... Samuel, Fredrick ... Smyth, James R. ... Wall, W. P. Wheeler, J. M. £ s. d. 1,153 15 4 34 0 0 55 8 3 22 18 8 71 11 2 28 3 4 104 3 4 153 0 0 119 12 7 45 3 1 50 13 4 Total ... 1,838 9 1

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Under Section 42 (Widows and Children).

Amblius M. Smith, Secretary. Wellington, 31st May, 1909. M. Feasbe, Book-keeper. Examined and found correct. — J. K. Warbubton, Controller and Auditor-General.

Approximate Cost of Paper. —Preparation, not given ; printing (1,500 copies), £Q 6s.

Authority : John Maokay, Government Printer, Wellington.—l9o9

Price 6d.}

ieg. o. ame. .nnual .mount W. 1 W. 12 W. 13 W. 2 W. 14 W. 10 W. 7 W. 3 W. 4 W. 8 W. 11 W. 15 W. 5 W. 9 W. 6 Biddell, Mrs. Susannah... Blandford, Mrs. Elizabeth Budge, John Archibald (child) Burgess, Mrs. Maria M., and 4 children ... Burns, Clements Nisbett (child) ... Butler, Mrs. Mary A., and 1 child Cleland, Mrs. Annie M.... Horwood, Mrs. F. E., and 1 child Houchen, Mrs. Mary and 1 child Hurrell, Mrs. S. C, and 2 children Johnstone, Mrs. Mary ... McLean, Mrs. C. E. Bamsay, Mrs. Elizabeth, and 5 children ... Sparrow, Mrs. Mary J. ... Summers, Mrs. Elizabeth M. £ 18 18 13 70 13 31 18 31 31 44 18 18 83 18 18 s. d. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 % Total ... 442 0 0