F.—9

8

Wealth of Pensioners. The following particulars relate to the amount of accumulated property owned by the 16,020 pensioners who were on the roll at the end of the year, and by the husbands and wives of these who were themselves not pensioners :— Owned by pensioners— a Homes (including furniture and personal efiects) . . . . . . 593,132 Land (freehold or otherwise not used as home) .. .. .. 102,508 Cash.. .. .. .. .. .. .. .. 79,851 Shares, stock, implements. &<■. .. .. . . . . . . 18,456 793,947 Less mortgages on this property .. .. .. .. 122,677 Total net property owned by pensioners .. . . . . 671.270 Owned by husbands or wives of pensioners £ Homes .. .. .. .. .. .. 134,091 Land and other property . . . . . . . . 35,090 Cash . . .. .'. .. .. .. .. 15,858 185,039 Ijfss mortgages on this property .. . . . . 38,173 Total net property owned by husbands or wives of pensioners (not themselves pensioners) .. .. 146.86H Grand total .. .. .. .. .. £818,136 The total income earned by these pensioners, exclusive of the amount exempted in terms of the 1908 Amendment Act by reason of the loss of employment (already referred to under the heading of '' New Claims "), was £118,520, and by their husbands or wives (not themselves pensioners), £28,655. The average amount of income earned by each pensioner was £7 8s.. and the average amount of property held, after the deduction of mortgages, £41 18s. On comparing these figures with the averages taken out in the past, and set out hereunder, it will be seen that the average income is decreasing, but that the average amount of property has increased considerably. This latter is duo to the larger exemption from the home, which is now £340. instead of C150 as previously. Average Income Average Amount y e • earned of Property hel<) per Pensioner. per Pensioner. £ s. d. £ ». d. 1906 .. .. .. .. .. ..840 28 12 0 1S07 .. .. .. .. .. ..850 32 16 0 1E08 .. .. .. .. .. ..800 34 13 0 1911 .. .. .. .. .. ..780 41 18 0 The following table shows the number of pensioners who occupy homes of their own, together with the value of such homes. The values quoted are the capital values, without the deduction of any mortgage owing. Those quoted under the heading " Under £100 " include a number of cases where furniture only is owned :■ —

Old-age Pensions in other Countries. It is interesting to note the world-wide attention that is now given to the question of old-age pensions, closely allied with which are the various schemes, partial and otherwise, of old-age insurance and annuities in operation in other countries. From time immemorial it has been recognized by communities that the aged should be cared for, the provision taking one form or the other ; but it was not until the seventeenth century that the question first received legislative consideration, France adopting a partial contributory scheme for pensioning seamen in 1681. The nineteenth century, however, has been the chief period of activity, practically the whole of the European countries having discussed, if they have not actually introduced, some form of provision for the aged. In 1850 Belgium adopted a scheme for the organization of a superannuation fund, being followed closely by France in the same year with a similar measure. Neither of these provisions, however, met with any success. Germany introduced in 1889 an old-age and invalidity insurance law ; and Denmark brought into operation in 1891 the first non-contributory scheme of pensions. Then followed New Zealand, in 1898; Belgium and New South Wales, in 1900; and Victoria, in 1901—all with non-

PeasioneiN. lumber in North Island rumher in South Island Total Under "^ £l0 °- £200. 1,871 477 1 389 2,365 3.260 2.842 £201 £301 ; £401 to to to £300. £400. £500. J I ! 257 109 62 408 203 100 ' j . 665 312 162 £501 to £600. Over ' £600. Total. 11 32 26 37 2,813 4,534 43 63 7.347 I i I .1