E.—9.

2

It is also provided that the Government contribution to the fund as from the Ist January, 1913, shall be increased from £7,000 to £17,000 per annum. At the end of 1912, The number of contributors was .. .. . .. .. .. 3,641 Of whom members under Part IX of Education Act, 1908, numbered 105 The annual rate of contribution paid as at the end of the year was over.. £40,000 The number of allowances in force at the end of the year was .. 376 representing an annual charge of .. .. .. .. £23,635 viz.,— Ordinary retiring-allowances were .. . . .. 240, representing £19,332 Retiring-allowances in medically unfit cases. . 39, „ 2,769 Allowances to widows .. 52, „ 949 Allowances to children .. 45, „ 585 The balance at the credit of the fund and invested by the Public Trustee at the end of the year was .. .. . . .. . . £212,174 The fund receives 4j per cent, interest on daily balances in the hands of the Public Trustee, and no charge is made for investment. No. 2. SEVENTH EEPOET OF THE BOARD CONSTITUTED BY THE PUBLIC SERVICE CLASSIFICATION AND SUPERANNUATION AMENDMENT ACT (PART I), 1908. Foe the Year ending 31st December, 1912. The Honourable the Minister of Education. Sir,— Wellington, 24th June, 1913. The Board has to submit the following report for the year ending 31st December, 1912. Meetings.—At the quarterly meeting held in January it was resolved that in future the quarterly meetings would be held in February, May, August, and November. Election.—The triennial election of the elective members of the Board was held in March, and resulted in the election of Messrs. W. T. G-rundy and H. G. Cousins representing the North Island contributors, and Messrs. W. Davidson and J. A. Valentine representing the South Island contributors. Amendment Act, 1912 (new admissions). —The Amendment Act of 1912, providing that those persons who were in the Education service on the Ist January, 1906, and who were still in the service could elect, on or before the 30th June, 1913, to become contributors to the fund has been taken advantage of by over one hundred teachers and other persons. The conditions of membership which the Board determined were that contributions must be paid as from the Ist January, 1906, the arrears being subject to interest at the rate of 5 per cent. The provision which was also made in the Amendment Act to include persons employed in the University colleges as members of the Fund was availed of by about forty professors and others who were in the Education service at the date of coming into operation of the Act (7tb November, 1912). These contributors will on retirement be entitled to benefits on account of their previous service. Persons first permanently employed under the University of New Zealand and the University colleges after the passing of the Act are bound to become contributors. Increased amount contribution by Government. —The Government contribution to the Fund of ,£17,000 was received at the beginning of 1913. The number of contributors increased from 3,387 at the end of 1911 to 3,641 at the end of 1912, and the number of persons in receipt of benefits increased during the year from 324 to 376. Details of the members of the fund on 31st December, 1912, grouped according to their status, are given in the following tables: —