E.—B

2

Thirteen 1921. Months to 31/1/23. Number of contributors at 31st December .. .. .. .. 5,872 6,296 Number of members admitted and reinstated during period .. .. 1,048 838 Number retiring from the fund during period .. .. .. . . 350 414 Net increase in membership at 31st December ~ .. .. 698 424 Number of allowances in force at end of period .. .. . . 881 984 Representing an annual charge of .. .. .. ■ ■'• :; .. £79,355 £100,641 Ordinary retiring-allowances .. .. .. .. 475 £54,393 554 £72,174 Retiring-allowances under extended provisions of section 12 of the Act .. .. .. .. .. .. 78 £10,698 88 £12,490 Retiring-allowances in medically unfit cases .. .. 102 £10,648 108 £12,217 Allowances to widows .. .. .. .. .. 133 £2,407 141 £2,551 Allowances to children .. .. .. .. .. 93 £1,209 93 £1,209 Funds invested at 31st December— £ £ At 4| per cent. '.. .. .. .. .. .. 41,050 40,930 At 5 per cent. .. .. .. .. .. '.. 13,801 13,031 At 5i per cent. .. !."j 11 .. ..:'.. .. 38,360 !v ,' '38/360 At 5| per cent. .. .. .. .. .; .. 405,048 ; / '258,2(92 At si per cent. .. .. 7. .. .. .. 93,158 81,905 At 6 per-cent. .. ~. .. .. .. .. 65,168 28.900 At 6| per cent. .. .. .. .. .. .. .. 274,808 Total .. .. .. .. .. .. £656,585 £736,348 Average rate of interest on investments at 31st December .. 5-5 per cent. 5 - 84 per cent. Approval was given for the continuance of the cost-of-living bonus to widows and children, and, in cases of special hardship, to other annuitants, for the year Ist April, 1922, to 31st March, 1923, the rate being —widows, £13 per annum ; children, £13 per annum ; other annuitants, sufficient to bring the allowance up to £100 per annum, but with a maximum bonus of £26. Approval has also been given for the continuance of the bonus at the same rate up to the 30th September, 1923. This bonus is not a charge on the Superannuation Fund, but is provided for out of the Consolidated Fund.

No. 2.—SEVENTEENTH ANNUAL REPORT OF THE TEACHERS' SUPERANNUATION BOARD. For the Thirteen Months ended 31st January, 1923. The Hon. the Minister of Education. Sir— Wellington, 30th April, 1923. The Board has to submit the following report for the thirteen months ended the 31st January, 19.23:— The Board. —The usual quarterly meetings of the Board were held in February, May, August, and November. Contributors.— -The number of contributors increased from 5,872 at the end of 1921 to 6,296 at the end of January, 1923, an increase of 424. The number of male contributors increased from 2,298 at the end of 1921 to 2,446 at the end of January, 1923. Table A shows the contributors arranged according to percentage of contribution, together with the number admitted and left during the year. Retiring and other Allowances. —Allowances amounting to £23,949 6s. were granted during the period, compared with £11,408 Bs. in 1921. The total annual rate of all allowances payable at the end of January, 1923, was £100,640 15s. Twenty-seven allowances were discontinued by death, and twelve from other causes—viz., the allowance of one widow ceased on remarriage, and eleven children attained the age of fourteen years. Fourteen widows and eleven children were granted allowances, compared with ten and one respectively in 1.921.