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H.—26A

1928. NEW ZEALAND.

PUBLIC SERVICE SUPERANNUATION FUND. ACTUARIAL EXAMINATION AS AT 31st MARCH, 1927.

Laid before Parliament in pursuance of Section 48 (4) of the Public Service Classification and Superannuation Act, 1908.

REPORT BY THE ACTUARY APPOINTED BY HIS EXCELLENCY THE GOVERNOR-GENERAL TO MAKE THE ACTUARIAL EXAMINATION OF THE PUBLIC SERVICE SUPERANNUATION FUND.

Government Actuary's Department, Wellington, 18th September, 1928. 1. I have the honour to submit the following report on the Public Service Superannuation Fund as at the 31st March, 1927, as required by section 48 of the Public Service Classification and Superannuation Act, 1908. 2. The scheme, which came into operation on the Ist January, 1908, embraces, with the few exceptions set out in section 52, all permanent public servants outside the Government Railways Superannuation Fund and the Teachers' Superannuation Fund. 3. The contributions and the benefits provided by the Act, together with the statements showing the progress of active membership, discontinuance of membership from various causes, and the progress of pensions for each year, will be found in Tables ItoIV of the appendix to this report. The ages of the contributors at" the date of the valuation, together with their contributions and other particulars, are shown in Table V ; and the pensions granted during the triennium, with the ages at which they were granted, in Table VI. 4. The income and outgo of the fund since the previous valuation were as follows : —■ Consolidated Revenue Account of the Public Service Superannuation Fund from the Ist April, 1924, to the 31st March, 1927. Income. £ s. d. Outgo. £ s. d. Funds at Ist April, 1924 .. .. 2,103,542 19 11 Pensions to members .. .. 824,340 710 Members'contributions .. •• 733,813 13 3 Pensions to widows and £ s. d. Transfers from other funds .. .. 1,929 0 3 children .. .. 75,526 10 6 Government subsidy .. •• 308,000 0 0 Leas Government subSubsidy from Cook Islands and Samoa sidy under section 27, Administration .. .. •• 4,392 17 7 Finance Act, 1925 .. 26,712 13 5 Interest on investments .. .. 394,843 0 9 48,813 17 1 Interest on arrears of contributions .. 4,733 14 0 Contributions returned .. .. 149,057 10 10 Fines . • • • • • • • 7 8 Transfers to other funds .. .. 485 7 6 Salaries .. .. .. .. 8,181 5 4 Public Trust Office commission .. 9,870 14 7 Travelling and office expenses . .. 3,877 0 8 Transfer to Stipendiary Magistrates' Fund Account .. .. 13,777 1 8 Funds at 31st March, 1927 .. ..2,493,790 7 11 £3,552,193 13 5 £3,552,193 13 5

I—H.1 —H. 26A.

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