E.—B,

1939. 1938. £ £ Net surplus for year .. .. .. .. .. 141,025 130,140* Balance at credit of Fund .. .. .. .. .. 975,491 834,465 Funds invested at 31st January — At 3 per cent. .. .. .. .. .. .. 5,000 At 3§ per cent. .. .. .. .. .. 5,000 5,000 At 3| per cent. .. .. .. .. .. 73,948 65,676 At 3| per cent. .. .. .. .. .. 1,200 1,200 At 4 per cent. .. .. .. .. .. 84,191 83,291 At 4J per cent. .. .. .. .. .. 416,887 383,759 At 4f per cent. .. .. .. .. .. 1,800 1,800 At 4J per cent. .. .. .. .. .. 225,650 198,965 At 4f per cent. .. .. .. .. .. 300 300 At 4f per cent. .. .. .. .. .. 100 100 At 5£ per cent. .. .. .. .. .. .. 2,250 At 5| per cent. .. .. .. .. .. 2,400 2,400 At 6 per cent. .. .. .. .. .. .. 269 At 6 per cent, f (subject to reduction under the National f 152,062 211,432 At 6| per cent. \ Expenditure Adjustment Act, 1932) •• \ Total .. .. .. .. .. £963,538 £961,442 f unreduced rate .. 4 • 504 4 • 608 Average rate of interest (per cent.) < after reduction as [_ shown above .. 4-346 4-378 Unclaimed contributions held at 31st January .. .. £1,408 £1,410 * Deficiency. Cost-of-living Bonus. —The payment of this bonus has been continued in necessitous cases. For the Teachers' Superannuation Board, A. E. McKinnon, Secretary.

No. 2.—STATEMENTS IN ADDITION TO THOSE PRESCRIBED BY THE ACT AND REGULATIONS. A. Number of Contributors on the 31st January, 1939, arranged according to Percentage of Contribution.

B. Total Number of Contributors who have joined and left the Fund since its Establishment (1st January, 1906, to 31st January, 1939).

2

5 per Cent. 8 per Cent. 7 per Cent. 8 per Cent. 0 per Cent, 1 Totals. M. j F. M. j F. M. F. M. F. M. F. M. | F. M. F. Total. ' 5 ' ~ j Number at 31st January, 1938 3,370 3,878 261 283 130 182 68 87 42 27 23 6 3 894 4,463 8,357 New contributors entered during 298 455 10 26 511 5 7.. 4 1 7 319 510 829 year i Transfers from other funds .. 3 2 3 2 5 3,671 4,335 271 309 135 193 73 94 42 31 24 13 4,216 4,975 9,191 Number left during year .. 86 355 111 26 13 17 6 Hi 4 4 4 1 124 414 538 Number at 31st January, 1939 3,585 3,980 26oj 283 122 176 67 83 38 27 20 12 4,092 4,561 8,653

Number. j aid, Annual Annual Rate M. F. Total, ! Salary ' Contribution. £ £ Total entered (including net increases in salary 7,206 14,293 21,499 5,518,769 317,387 and contributions) Total discontinued .. .. .. .. 3,114 9,732 12,846 2,800,706 174,062 Total existing at 31st January, 1939 .. 4,092 4,561 8,653 2,718,063 143,325