UNION S.S. EMPLOYEES.

Gisborne Times, Volume XXVII, Issue 2681, 10 December 1909, Page 2

UNION S.S. EMPLOYEES.

PROVISION FOR SUPERANNUATION.

rPicu Press Association.! DUNEDIN, Dec. 9. The superannuation scheme for masters, officers, and engineers in the employ of the Union Steamship Company has been formulated .and adopted, lhe company undertakes to tlip scheme to the extent of £20,000, £lO,000 cash and £IOOO annually for ten years. The age of retirement for men who have been ten years or more in the company’s services to be 63 years. The trustees appointed are Captains D. J. Watson and A. Wallis, representing .deck officers; A. R. Hislop and H S. Baldwin, representing engineers, etc.; and C. Holdsworth (general manager), and S. W. Whitson .(secretary), representing the company. The rates of co*l- - under clerical scheme, which includes pursers and assistant pursers, wharfingers, and (superintendents ot out-door; departments, and officers are: —Under 40 years of . age on joining the Association, 5 per cent upon the annual salary; 40 years of ago and under 46, 6J per cent; 45 and under 50 per cent; 50. and under 53, 10 per cent; 53 and under 58, 124 per cent; and under 60. 35 per cent. Contributions will continue to be payable .at. the rate applicable to the age on. joining. The maximum salary on" which contributions are levied or superannuation calculated is £750. A pension during life, one-sixtieth of tlie average annual salary for each year of service, is limited to two-thirds of the average annual salary with a maximum of £3OO.