E.—B.

1935 NEW ZEALAND.

EDUCATION: TEACHERS' SUPERANNUATION FUND.

Presented to both Houses of the General Assembly by Command of Ilis Excellency.

No 1 —TWENTY-NINTH ANNUAL REPORT OF THE TEACHERS' SUPERANNUATION BOARD. Foe the Yeae ended 31st January, 1935. The Hon. the Minister of Education. g IRj Wellington, 15th May, 1935. The Board has to submit the following report for the year ended the 31st January, 1935 : — The Board. —The usual quarterly meetings of the Board were held in February, May, August, and November. The following figures show the transactions, &c., of the fund for the year ended 31st January, 1935, as compared with those for previous year : — 1935. 1934. Contributors on roll at 31st January .. .. .. 8,500 8,903 Decrease from previous year .. .. .. .. 403 452 Retiring and other allowances — Annual rate granted during year .. .. £15,577 £11,883 Total annual rate at 31st January .. .. .. £304,860 £299,667 Number granted during year — On retirement .. .. .. . • • • 84 60 To widows .. .. .. . • ■ ■ 29 27 To children .. .. .. .. .. 8 17 Number discontinued during year — By death .. .. .. .. .. 69 58 By other causes .. .. .. .. 14 7 Number current at 31st January — Retired members .. .. .. .. 1,575 1,542 Widows and children .. .. .. .. 344 339 Income for year — £ £ Contributions .. .. .. .. 114,699 114,775 Government subsidy— Section 112 of Act .. .. .. .. 43,000 43,000 Section 114 of Act .. .. .. .. 4,538 4,143 Section 17, Finance Act (No. 2), 1934 .. .. 108,000 Special on account of interest reductions .. .. 10,510 8,805 Total Government subsidy .. .. .. 166,048 55,948 Interest 48,327 54,310 Profit on realization of investments, &c. .. .. 750 1,462 Total income .. .. .. £329,824 £226,495 I—E. 8.