PUBLIC SERVICE SUPERANNUATION BOARD (TWENTY-NINTH ANNUAL REPORT OF THE), WITH ACCOUNTS, FOR THE FINANCIAL YEAR ENDED 31st MARCH, 1937.

Appendix to the Journals of the House of Representatives, 1937 Session I, H-26

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" 1937. NEW ZEALAND.

PUBLIC SERVICE SUPERANNUATION BOARD (TWENTY-NINTH ANNUAL REPORT OF THE), WITH ACCOUNTS, FOR THE FINANCIAL YEAR ENDED 31st MARCH, 1937.

Presented to Parliament pursuant to the Provisions of the Public Service Superannuation Act, 1927.

REPORT.

The Board has the honour to submit the following report upon the transactions in connection with the Public Service Superannuation Fund : — The Revenue Account, Balance-sheet, and statements regarding membership and retiring and other allowances will be found appended. The Board.—Mr. W. G-. Wohlmann, representative of contributors belonging to the Police Department, retired during the year, and was succeeded by Mr. D. J. Cummings. Contributors. —The number of new contributors who joined the scheme during the year, and other particulars, are contained in the following table : —

The following table shows particulars of the public servants who were contributing to the fund on the 31st March, 1937 (after allowing for deaths, retirements, and withdrawals), grouped according to their respective rates of contribution : —

Retiring and other Allowances.—Pensions for £28,665 Bs. per annum were granted during the year as follows : For age or length of service, £18,289 7s. to 82 members (63 male and 19 female members) ; for medical unfitness for duty £4,817 4s. to 36 members ; additional to persons retired under the provisions of section 14, Finance Act, 1931, £930 17s. per annum ; to widows and children of deceased members, £3,224 per annum to 104 widows and £1,404 per annum to 54 children.

Number. Ra^ontributioi° f Annual Salary. Annual Contributions. Male. Female. Total. £ s. d. £ s. d. 5 2,188 940 3,128 350,369 0 0 17,518 9 0 6 138 21 159 43,941 9 2 2,636 9 9 7 105 8 113 35,937 1 8 2,515 11 11 8 44 5 I 49 16,510 0 0 1,320 16 0 9 32 .. 32 12,360 8 4 1,112 8 9 10 13 .. 13 6,784 15 0 678 9 6 Transfers from other 17 1 18 4,777 0 0 278 7 0 funds Totals .. 2,537 j 975 3,512 470,679 14 2 26,060 11 11 I

tj i , Number. xiatiG por Cent. » , of — Annual Salary. ,, Contribution. | ToU , Co« tt ,b„,„„. £ s. d. £ g. d. 5 15,975 2,779 18,754 4,805,478 3 4 240,273 18 2 6 1,416 141 1,557 506,744 11 8 30,404 13 6 7 855 88 943 310,640 16 8 21,744 17 2 8 415 41 456 152,269 15 10 12,181 11 8 9 141 9 150 53,642 1 8 4,827 15 9 10 28 2 30 12,422 0 0 1,242 4 0 Totals .. 18,830 3,060 21,890 5,841,197 9 2 310,675 0 3

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Under section 114 of the Public Service Superannuation Act, 1927, the statutory allowances to widows and children were incieased from £18 to £31 per annum and from ss. per week to 10s. per week respectively. The additional expenditure on this account is recovered from the Consolidated Fund. Civil Service Act, 1866 : Compensation Rights.—The total amount of such compensation for which the fund became liable since the initiation of the scheme is £561,134. To this amount must be added accretions to the date of retirement, approximately £143,000, for which the Consolidated Fund would otherwise have been liable, and the whole may be fairly set against the total subsidies paid to the fund during the past twenty-nine years, amounting to £2,478,494. One hundred and sixty-nine retiring or other allowances were discontinued by death, and sixtyeight for other causes —viz., 1 pensioner retired as medically unfit recovered in health and reinstated, 6 widows remarried, and 61 children reached the age of fourteen years. The annual amount payable at the close of the year was £499,869 os. Id., as shown in the statement attached. Income. —The total income for the year was made up as follows : — £ Members'ordinary contributions .. .. .. .. .. 306,981 Subsidy, Cook Islands and Samoan Administrations, &c. . . . . 738 Contributions from Government .. .. .. .. .. 163,930 Fines, &c. .. . • •. ■ • • • • • • • 343 Interest .. .. .. •• •• ■■ 142,831 Premium on conversion, local-body debentures . . .. .. 2,208 Total income for year .. .. .. .. .. £617,031 Outgo. —The pensions paid during the year to contributors who have retired and to dependants of deceased contributors amounted to £498,676 10s. 3d.—viz., £455,620 15s. 4d. to members and £43,055 14s. lid. to widows and children. Refunds of contributions to contributors who have left the Service amounted to £28,291 lis. 5d., while the refunds under section 42 to personal representatives of deceased contributors and annuitants amounted to £16,269 15s. lOd. Two contributors who were retired elected to accept a refund of their contributions under section 34, amounting to £1,082 17s. 5d., in lieu of retiring-allowances. Six contributors were transferred to other funds in accordance with the provisions of section 120, and their contributions, amounting to £807 3s. 5d., were accordingly transferred to such funds. The salaries of the staff and other office expenses were £2,409 7s. 4d. and £2,085 12s. lid. respectively. The Board, acting under the provisions of section 77 of the Mortgagors and Lessees Rehabilitation Act, 1936, wrote down investments by £722 16s. lOd. Premium paid on purchase of inscribed stock amounted to £5,072 13s. 9d., and is to be written off during the currency of the stock ; £370 17s. Bd. has been written off this year. The total outgo for the year was £553,372. Accumulated Funds. —These amounted at the end of the year to £2,997,898 9s. Balance-sheet. —On the 31st March the total assets of the fund, which include provision for the outstanding accounts, amounted to £3,116,893 4s. The Balance-sheet appended gives full particulars as to the liabilities and assets. Investment of the Fund. —The total investments of the fund at each rate of interest were as follows :— New Zealand Government inscribed stock— £ s. d. 3| per cent. .. .. .. .. 210,530 0 0 4 per cent. .. .. . . . • 466,560 0 0 £ s. d. 677,090 0 0 Rural Advances bonds — 5 per cent.* .. .. 236,155 10 0 Mortgage Corporation of New Zealand inscribed stock — 3f per cent. .. ■■ 50,000 0 0 Debenture securities — per cent. .. .. •• 174,283 511 4J per cent. .. .. •• ■■ 428,021 13 2 5 per cent.f .. .. • ■ • ■ 1, 980 0 0 5| per cent.| . . • ■ • ■ ■ • 600 0 0 6 per cent.]" .. .. • • ■ • 33,500 0 0 638,384 19 1 Mortgage securities — 3| per cent. •• •• 4,000 0 0 41 per cent. .. •• ■■ 304,954 12 6 4| per cent. .. • • • ■ • ■ 325,468 0 8 5 percent. .. •• •• 29,754 411 5A per cent.s .. -. •• •• 4,225 12 9 6 per cent.J 601,660 7 10 64 per cent, j .. .. •• •• 3,493 9 8 1,273,556 8 4 £2,875,186 17 5

* Subject to an interest-tax at the rate of 20 per cent, charged on all interest on and from Ist April, 1933. Vide section 6, Finance Act, 1932-33. f Interest on and from Ist April, 1933, 20 per cent, lower than the rate prescribed by the securities or to the rate of 4J per cent, per annum, whichever rate is the higher. Section 5, Local Authorities Interest Reduction and Loans Conversion Act, 1932-33. t Subject to a reduction of 20 per cent., but not to be reduced below the rate of 5 per cent, per annum. Part 111, National Expenditure Adjustment Act, 1932.

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A special payment into the fund was made by Treasury (amounting to £24,136), being the amount of the reduction in the interest-rate of the four classes of securities. The above total includes £21,278 15s. Bd. invested on Stipendiary Magistrates' account. The average rate of interest earned for the financial year on the mean funds was £4 18s. Bd. per cent., a reduction of 7s. 9d. per cent, as compared with the previous year. In this connection it must be understood that the amount of interest due and outstanding and interest accrued but not due at the balance date is taken into account in arriving at the before-mentioned rate. Reference to the balance-sheet discloses that the sum of £40,008 is overdue on mortgage securities. The Courts, acting under the powers contained in the Mortgagors and Lessees Rehabilitation Act, 1936, have written off during the year the sum of £472 9s. Id., and £1,314 4s. 2d. was written off by the Board, acting under the provisions of section 77 of the same Act, being arrears of interest. Operations of the Fund.—The following comparative statement shows the operations of the fund (to the nearest pound) as disclosed in the Revenue Accounts and Balance-sheets for the twelve-year period ended 31st March, 1937 : —

Chairman.

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Income. Expenditure. Contributions. Interest on . . Year ' [ t * Arrears of Refunds. Pensions. tration igneous lated^Funds Employees.! ! Sent Ex P enses ' £ £ £ £ £ £ £ ££ £ 1925-26 .. 257,378 102,436 132,993 3,805 277 53,362 316,400 6,920 185 2,317,399 1926-27 .. 246,635 300,669 139,369 899 328 45,341 322,759 7,881 28 2,429,290 1927-28 .. 249,301 100,955 146,351 439 504 50,193 338,138 7,932 2,124 2,528,454 1928-29 .. 253,593 101,130 147,040 332 269 44,234 351,396 8,070 1,176 2,625,943 1929-30 .. 263,424 201,707 154,612 146 405 50,107 367,496 8,158 2,472 2,818,004 1930-31 271,423 102,289 162,888 264 422 40,754 381,243 8,418 8,775 2,917,154 1931-32 .. 190,347 102,757 168,453 238 486 48,552 431,922 8,650 2,277 2,888,034 1932-33 .. .226,420 141,038 166,814 447 302 45,345 472,288 7,620 387 2,897,415 1933-34 .. 228,650 144,129 157,200 651 4,464 37,551 486,925 7,180 1,287 2,899,564 1934-35 .. 238,844 149,766 153,333 185 19,086 40,065 488,836 7,429 6,997 2,917,452 1935-36 .. 256,249 148,512 151,599 176 8,770 44,804 494,988 7,250 1,477 2,934,240 1936-37 .. 306,292 164,668 142,831 689 2,551 45,644 498,677 7,150 1,901 2,997,898 Liabilities. Assets. Sundry Creditors. Sundry Debtors. Other, Investments Year * Accumu- including (including Govern- , at MiscelJated Fund. Pen- Re- Em- Govern- Accrued Em- Govern- men +De- Bank. laneoug. sions. funds, ployees. ment Interest). ployees. ment,&c. Dar t me nts Depart- F menis. £ £ £ £ £ £ £££ ££ 1925-26.. 2,317,399 2,276 3,162 3,286 1,002 2,339,705 5,763 109 34,421 11,320 307 1926-27 .. 2,429,290 3,059 922 1,587 22,075 2,474,867 20,942; 241 23,103 1,691 589 1927-28 .. 2,528,454 3,526 1,983 1,903 19,072 2,577,894 21,305 215 12,253 5,195 2,576 1928-29 .. 2,625,943 3,825 943 2,232 14,739 2,678,470 18,118 255 10,881 4,062 398 1929-30 .. 2,818,004 4,323 1,340 676 17,012 2,862,747 17,267 126 25,067 1,457 246 1930-31 . 2,917,154 4,097 1,735 517 14,178 2,974,146 14,391 277 12,074 1,004 288 1931-32 .. 2,888,034 3,566 1,617 4,725 54,472 2,979,354 16,101 243 20,406 326 483 1932-33 .. 2,897,415 3,056 1,444 398 14,853 2,892,282 24,541 212 61,510 652 2,469 1933-34 . 2,899,564 2,684 1,692 212 3,386 2,882,531 29,191 231 56,922 1,018 2,147 1934-35 2,917,452 3,302 904 288 10,803 2,777,030 13,957 198 73,625 130,378 2,062 1935-36 .. 2,934,240 3,703 1,980 407 22,123 2,861,347 24,919 276 70,801 67,906 1,707 1936-37 2 997 898 3,722 1,517 596 48,386 2,923,232 40,543 1,923 70,555 74,088 6,278

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PUBLIC SERVICE SUPERANNUATION FUND. Revenue Account for the Year ended 31st March, 1937. E> r - £ s. d. Or. £ K d Amount of fund at beginning of year .. 2,934,239 19 9 Retiring-allowances— £ s. d. Members contributions— To members .. .. 435,620 15 4 Under section 19 (ordinary) .. .. 293,734 2 4 To widows and children .. 43,055 14 11 Transferred from other Superannuation Funds 1,773 7 11 498 676 10 3 Mortgage Corporation Superannuation Fund 10,784 10 1 Contributions returned— Interest on arrears of contributions .. 689 711 Under section 37 (left service) 28,291 11 5 Government subsidy— Under section 42 (death) .. 16,269 15 10 Under section 50, Public £ s. d. Under section 34 (retirement) 1,082 17 5 Service Superannuation g Act, 1927 .. . . 86,000 0 0 Contributions transferred to other SuperannuaUnder section 19, Finance tion Funds .. . . 807 3 5 Act, 1934 (No. 3) .. 41,660 0 3 Investments written down by Board, section 77, Under section 23, Finance Mortgagors and Lessees Rehabilitation Act, Act, 1936 .. . . 17,500 0 0 1936 .. .. .. .. .. 722 16 10 Under section 114, Public Premium on stock, proportion written off .. 370 17 8 Service Superannuation Expenses— £ s. d Act, 1927 (widows and Salaries .. .. 2,409 7 4 children) .. .. 18,769 15 3 Audit fees .. .. 75 0 0 163,929 15 6 Contingencies .. .. 15 9 8 Interest on investments .. 120,481 15 0 Legal charges .. .. 150 411 Less amounts written off by Post and Telegraph DepartCourt orders—Mortgagors ment charges .. .. 1,047 14 0 and Lessees Rehabilitation Public Trustee's commission 2,655 8 7 Act, 1936, £472 9s. Id.; Medical fees .. .. 102 15 0 also less amounts written Heating, lighting, and cleanoff by Board, section 77, ing .. .. _ _ 69 1 9 Mortgagors and Lessees Travelling-expenses (Board Rehabilitation Act, 1936, members) 24 11 4 £1,314 4s. 2d. .. .. 1,786 13 3 Rent .. !144 0 0 Printing and stationery . . 160 4 3 118,695 1 9 Postages, telegrams, and Reimbursement by Treasury services .. 219 12 7 on account reduction in Typewriters and other interest* .. .. 24,136 0 0 machines (upkeep) .. 14 8 4 142,831 1 9 Messenger service .. 44 10 6 Subsidy Cook Islands and Samoa .. .. 715 4 9 Furniture and fittings .. 18 0 7 Subsidy Imperial War Graves Commission .. 22 10 0 7 J5O 8 {() Premium on conversion local-body debentures 2,207 16 11 Balance as at 31st March, 1937 .. .. 2,997*898 9 0 Fines, fees, and sundries .. .. .. 299 16 1 Stipendiary Magistrates' Account: Administration expenses recovered .. .. 42 17 8 £3,551,270 10 8 £3,551,270 10 8 en onc P i a / me " t < by H easury °, f ® mollllt ° f statutory reduction of interest on mortgage securities (National Expenditure Adjustment Act, 1932, Part III) £9,895 16s. • interest-tax, rural-advances bonds, and intermediate-credit debentures (section 6, Finance Act, 1932-33). £2,499; statutory rednction of Interest Sif„ ea i an T »o ve / n ' n ™t. msc r n , be d stock (New Zealand Debt-conversion Act, 1932-33), £6,332 7s. ; statutory reduction of interest, local-body debentures (section 5, local Authorities Interest .Reduction and Loans Conversion Act, 1932-33), £5,408 175.: total, £24,136.

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PUBLIC SERVICE SUPERANNUATION FUND—continued. Balance-sheet as at 31st March, 1937. Liabilities. Assets. £ s. d. Superannuation Fund Ac- Amount invested by the Board .. .. 2,853,908 1 9 count — £ s. d. £ s. d. Contributions of members— £ s. d. Balance due from Revenue In course of transmission 36,046 3 3 Account .. .. 2,997,898 9 0 Due and outstanding .. 4,496 16 1 Add value of office furniture, 40,542 19 4 fittings, and machinery .. 274 9 8 Interest on investments — Accrued but not due .. 27,652 0 2 2,998,172 18 8 Due but not overdue .. 1,663 14 11 Less amount due to con- Due and outstanding .. 40,008 0 1 tributors under the pro- 69,323 15 2 visions of section 9 (2), Subsidy— National Expenditure Cook Islands and Samoa .. 129 1 5 Adjustment Act, 1932 69,568 5 5 Imperial War Graves Commis2,928,604 13 3 sion .. .. .. 5 12 6 Retiring and other allowances Section 114, Public Service due in course of payment — Superannuation Act, 1927 .. 1,788 8 7 To members .. .. 3,337 4 7 1,923 2 6 To widows and children .. 384 18 2 Retiring - allowances recoverable (Pensions De3,722 2 9 partment) .. .. .. .. 13 7 10 Refunds of contributions due in Cost-of-living bonus (recoverable) .. .. 214 2 6 course of payment — Rates, fees, and premiums paid on account mortUnder section 37 (left ser- gagors (recoverable) .. .. .. 1,275 15 2 vice) .. .. .. 310 9 0 Premium paid on purchase £ s. d. Under section 42 (death) .. 1,206 10 7 Government stock .. .. 5,072 13 9 —— 1,516 19 7 Less amount written off .. 373 13 3 Expenses due in course of pay- 4,699 0 6 ment — Sundry debtors (Rarotongan Administration) .. 75 17 4 Heating, lighting, and clean- Cash in hand> Public Trustee .. J»»» 1 Printing and stationery .. 3 3 0 — 70,555 1 6 Post and Telegraph Depart- Cash in bank .. .. .. .. 74,087 10 9 ment charges .. .. 239 6 0 Office furniture, fittings, and machinery .. 274 9 8 244 0 11 Contributions paid in advance or in error .. 492 13 4 Public Trustee's charges on accrued interest .. 2,193 19 0 Post Office Account .. .. 45,947 10 11 Unclaimed Account (contributions, &c.) .. 102 18 10 Government subsidy (balance)* .. 64,500 0 0 Amount due to contributors under the provisions of section 9 (2), National Expenditure Adjustment Act, 1932 .. .. .. .. 69,568 5 5 £3,116,893 4 0 £3,116,893 4 0 * The Government subsidy is paid in January of each year ; owing to the change in the date of the financial year, to show the true position of the fund it is necessary to litate this item as a liability. t On deposit at call.

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Stipendiary Magistrates' Account. Revenue Account for the Year ended 31st March, 1937. Dr. £ s. d. Gr. £ s. d. Amount of fund, Ist April, 1936 .. .. 20,882 3 0 Retiring-allowances .. .. .. .. 4,412 2 4 Members' contributions, section 63, Public Service Contributions returned, section 63, Public Service Superannuation Act, 1927 .. .. .. 1,580 4 3 Superannuation Act, 1927 .. .. .. 261 9 5 Interest on investments .. .. .. 1,021 17 1 Investments written down by Board, section 77, Premium on conversion local-body debentures .. 16 11 1 Mortgagors and Lessees Rehabilitation Act, 1936 5 8 5 Subsidy under section 23, Finance Act, 1936 .. 2,500 0 0 Premium on stock, proportion written off .. 215 7 Administration expenses .. .. .. 42 17 8 Balance as at 31st March, 1937 .. .. 21,276 2 0 £26,000 15 5 £26,000 15 5 Balance-sheet as at 31st March, 1937. Liabilities. £ s. d. £ s. d. Assets. £ s. d. Stipendiary Magistrates' Account— Amount invested by the Board .. .. 21,278 15 8 Balance due from Revenue Ac- Contributions due, in course of transmission .. 5 4 6 count .. .. .. 21,276 2 0 Less amount due to contributors under the provisions of section 10 (3), National Expenditure Adjustment Act, 1932 .. .. 471 5 11 20,804 16 1 Retiring-allowances due, in course of payment .. 7 18 2 Amount due to contributors under the provisions of section 10 (3), National Expenditure Adjustment Act, 1932 .. .. .. .. 471 5 11 £21,284 0 2 £21,284 0 2 Subsidiary Account. Cost-of-living Bonus paid to Annuitants of the Public Service Superannuation Fund on behalf of the Treasury. Dr. £ s. d. (Jr. £ s. d. Balance due from Treasury .. .. .. 4 6 8 Amount received from Treasury .. .. 2,280 14 5 Amount disbursed for period Ist April, 1936, to Balance due from Treasury .. .. .. 214 2 6 31st March, 1937 .. .. .. .. 2,490 10 3 £2,494 16 11 £2,494 16 11 R. S. Wogan, Secretary. M. P. Finnigan, Accountant. Wellington, 25th June, 1937. Public Service Superannuation Board. I hereby certify that the Revenue Account and Balance-sheet have been duly compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.—J. H. Fowler, Controller and Auditor-General.

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Statement of Contributors for the Year ending 31st March, 1937.

Particulars of Contributions discontinued during the Year.

Progress of Contributors since Date of Establishment of the Fund to 31st March, 1937.

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Number. | -- : 1 — —7 Annual Salary. Contributions. M. | F. j Total. £ s. d. £ s. d. Contributors at beginning of the year .. 16,711 2,488 4,946,468 3 4 263,076 10 6 New contributors entered during the year .. 2,520 974 3,494 465,90L 14 2 'I»? t ' Contributors transferred from other funds .. 17 1 18 4,787 0 0 278 7 0 Increase by promotion during the year .. ■■ •• 595,162 14 2 ,SI,U-J b ■' Total .. ■■ •• 19,248 3,463 22,711 6,012,320 11 8 320,166 8 8 Contributions discontinued during the year .. 418 403 821 171,123 2 6 9,491 8 5 Total contributors at end of year 18,830 3,060 j 21,890 5,841,197 9 2 310,675 0 3

Number. Annual Amount RetiringHow discontinued. Annual Salary. Contributions. x> on +. allowance __ _ m , , ' Retirement. granted. M. I F. Total. £ s. d. £ s. d. £ s. d. £ s. d. By death before retiring-allowance en- 63 4 67 21,775 5 0 1,365 11 9 14,968 19 2 1,976 0 0 tered upon (sees. 42 and 43) By retirement before retiring age (sec. 258 370 628 101,986 17 6 5,270 6 7 28,291 11 5 37) By retirement (sec. 34) . . • . 2 . . 2 690 0 0 57 12 0 1,082 17 5 By retirement medically unfit (sec. 32) 26 10 36 11,586 16 8 649 5 4 .. 4,817 0 0 By retirement (sec. 61) .. •• •• •• •• m By retirement at retiring age or for 63 19 82 32,838 0 0 2,018 2 1 .. 18,289 7 0 length of service (sec. 26) By transfer to other funds (sec. 120) .. 6 6 1,686 0 0 100 16 0 807 3 o By reduction .. •• •• •• •• •• 560 3 4 29 14 8 Total .. .. 418 403 821 171,123 2 6 9,491 8 5 45,150 11 525,082 11 0

Number. , c , Annual — if, 4 iIIhWI 1 — ~| Annual Salary. Contributions. M. F. Total. ' __ ] , 1 ; £ s. d. £ s. d. Total entered .. • ■ 38,098 ,■ 10,830 48,928 11,735,759 18 4 672,394 14 1 Total discontinued 19,263 j 7,770 27,038 5,894,562 9 2 361,719 13 10 Total existing at 31st March, 1937 .. 18,830 3,060 21,890 j 5,841,197 9 2 310,675 0 3 I j J

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Wellington, sth. July, 1937. R. S. Wogan, Secretary, M. P. Finnigan, Accountant, Approximate Cost of Paper.—Preparation, not given ; printing (1,944 copies), £14 10s. Public Service Superannuation Board

PUBLIC SERVICE SUPERANNUATION FUND— continued. Statement of Retiring and other Allowances for the Year ended 31st March, 1937.

By Authority: E. V. Paul, Government Printer, Wellington.— 1937.

Price 6d .]

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On Attainment^ Retiring Age I M S°v unfit Dutv™ France Act, Ftafnce Act, Section 14, Finance Act, SecUon 42 : Sections 42 (e) and 43 (o): Total Retiring and other or for Length of Service. Medically unfit, injured on Duty. 1930 (No. 2). 1921. 1931 - Widows. Children. Allowances. Number. Number. Number, j | Number. Number. [ — Annual j , Annual : ' Annual L ' Annual jJ Annual I Annual Xiun- Annual! Annual I Annual I i Amount. | *5 Amount. Amount. Amount. Amount. -3 |! Amount. ber. Amount I [ Amount ! Amount ; M. !•'. Total. M. K c M. M. M. ; M. F. | M. F. (Total. M. F. Total. ! L_ 11 Hi 1 I i - . - I . ' ■ H 11 ■ . . ■ ; I I ; __j Retiring and other allowances— ! £; s. d.j £ s. d. £ s. dj £ s. d. £ s. d. I £ s. d. £ £ ' £ s. d. Existing at beginning of year .. j 1,546: 279 1,825 404,532 10 6j 258 53 311 32,116 10 4 11 1,789 9 0; 54 8,106 11 0 38 6,227 1 0 22 4 26 2,829 18 0 |l,090 33,790 184 138 322 8,372 2,113' 1,564 3,677 497,763 19 10 Granted during year at nrftre- | 63; 19: 82 18,289 7 Oj 26 10 36 4,817 4 0 .. .. j .. .. .. . . .. I 26 806 16 29 45 1,170 105: 84 189 25,082 11 0 menl i ! 1 j Granted during year after re- .. j .. .. .. .. .. .. .. 930 17 0 1 78 2,418 3 6 9 234 sj 84 87 3,582 17 0 tirement. j I Total .. 1,609! 298! 1,907, 422.821 17 6 284 63 347 36,933 14 4 -11 1,789 9 0, 54 8,106 11 0 38 6,227 J 0 22 4 26; 3,760 15 ojl,194 37,014 203 173 376 9,776 2,22lj 1,732 3,953 526,429 7 10 Discontinued during year .. 84 8 92| 19 611 11 0 23 1 24 2,786 9 9.. .. j 4 582 4 0 2 249 13 0 1 .. lj 101 10 0 1 53 1,643 34 27 61 1.586 148 89 237 26,560 7 9 Existing at end of year .. 1,525 290i l,815j 403,210 6 6 261 62 323 34,147 4 7 11 1,789 9 o! 50 7,524 7 0 36 5,977 8 0 21 4 25 | 3,659 5 0 1,141 35,371 169 146 315 8,190 2,073| 1,643 3,716 499 869 0 1 i ! ' Particulars of Retiring and other Allowances discontinued during the Year. How discontinued — Bydeath.. .. .. 84 1 8 92 19,611 11 0 22 1 23 2,774 19 9 .. 4 582 4 Oj 2 249 13 0 1 .. 1 101 10 0 47 1,457 .. .. : .. .. 113 56 169 24,776 17 9 By expiry .. .. [ 1 .. 1 11 10 0 .. .. .. .. 6 'l86 34 27 61 1,586 35 33 68 1,783 10 0 Total .. .. 84i 8 92 19,611 11 0 23 1 24 2,786 9 9.. .. 4 582 4 0 2 249 13 0 1 .. 1 101 10 0 53 1.643 34 27, 61 1,586 148 89 237 26,560 7 9 ; I I 1 'g ,1 : I I Pkogress of Retiring and other Allowances since Establishment of the Fund to 31st March, 1937. Total granted .. .. I 2,808 348 3,156 621.447 9 0 571 79 650 61.611 3 sj 17 2,461 14 0 59 8,747 14 0 49 7,688 8 0 23 4 27: 3,841 8 0 1,633 48,413 790 : 737 1,527 33,735 4,317 2,801 7,118 787,945 16 5 Total discontinued .. .. 1,283 58 1,341 218,237 2 6 310 17 327: 27,463 18 10 6 672 5 0 9 1,223 7 0 13 1,711 0 0 2 .. 2| 182 3 0 492 13,042 621 591 1,212 25,545 2,244 1,158 3,402 288,076 16 4 Total existing at 31st March, 1937: 1,525 290 1,815 403,210 6 6 261 62 323 34,147 4 7 11 1,789 9 0 50 7,524 7 0 36 5,977 8 0 21 4 25; 3,659 5 0 1,141 35,371 169 1 146 315 8,190 2,073 1 648 3,716 499,869 0 1