E.—9

1909. NEW ZEALAND.

EDUCATION: TEACHERS' SUPERANNUATION FUND.

Laid before Parliament in pursuance of the Act.

THIRD REPORT OF THE BOARD CONSTITUTED liV "THE TEACHERS' SUPERANNUATION ACT, 1905," AND "THE PUBLIC SERVICE CLASSIFICATION AND SUPERANNUATION AMENDMENT ACT (PART [), 1908." For Period ending 31st December, 1908. The Honourable the Minister of Education. Sir,— Wellington, 20th July, 1909. The Board has to submit the following reporl for the period ending -"ilst December, 1908. The number of contributors to the fund on the : '>lst December, 1908, was 2,931, being an inoreaee of 49 above the number on the register on the 31st March, 1908. Of this number, 2,416 were original members and 515 ordinary members—that is, persons who were first permanently employed after the date of flu: coming into operation of the Arts. Details are given in the following table: —

A. Statement of Membership as from the 1st January, 1906.

It is found on comparison of the number of original contributors at the 31st March, IDOB, with the number ai at 31st December, 1908, that, as a result of the admissions to anil withdrawals from the fund during the year, there is a decrease of 43 contributors whose contributions were at the rate of 5 per cent., 14 at 6 per cent., 5 at 7 per cent., 4 at 8 per cent., 8 at 9 per cent., and 19 at 10 per cent.; while there was an increase of 1 at 5 per cent., 1 at 7 per cent., and 2 at 8 per cent., the totals showing a net decrease of 89 in the number of original contributors. A similar comparison of the number of ordinary contributors shows a decrease of 12 at 5 per cent., 2 at <> per cent., 1 at 7 per cent., 2 at 8 per cent., and 2 at 9 per cent. ; while there was an increase of 115 ai 5 per cent., 19 at 6 per cent., 6 at 7 per cent., 10 at 8 per cent., 3 at 9 per cent., and 4 at 10 per cent. : a total net increase of I. 'is ordinary members, li will be observed that the decrease relates to " original " members on account of whom a greater liability is attached to the fund than in the case of ordinary members; but, as will Ik: seen in Table I of the Appendix, a large proportion of the retiring members left the Education service before becoming entitled to other than a refund of their contributions. Details are given in the following table : —

B. Progress of Contributors since Date of Establishment of the Fund (1st January, 1906, to 31st December, 1908).

Original Members. Ordinary Members. Total Number at End of Period. ..____ t-«4 Number at ...... T ., Number at Admitted. Left. End „, Period Admitted. Left. ! End of period 2,720 127 2,593 219J .. 219 50 138 2,505 197 39 377 i 93 2,416 157 19 515 Number. Period ending. 2,812 31st Marob, 1907. 2,882 , 1908. 2,931 , Dec, 1908.

Number. F. Total. Annual Salary. Annual Contributions. M. 'otal entered (including increases in salary and contributions) 'otal discontinued (including reductions in salary and contributions) 1,632 £ 527,079 £ s. d. 38,326 0 0 1,715 3,347 194 222 416 72,433 5,269 0 0 Total existing at 31st December, 1908 1,438 1,493 2,931 454,646 33,057 0 0 I