R.—l4

1908. NEW ZEALAND.

EDUCATION: TEACHERS' SUPERANNUATION FUND.

Laid before Parliament in pursuance of the Act.

SECOND REPORT OF THE BOARD CONSTITUTED BY "THE TEACHERS' SUPERANNUATION ACT, 1905." For Year ending 31st March, 1908. Wellington, 13th July, 1908. The Board has to submit the following report for the year ending 31st March, 1908. The number of contributors to the fund on the 31st March, 1908, was 2,882, being an increase of 70 above the number on the register on the 31st March, 1907. Of this number, 2,505 were original members and 377 ordinary members—that is, persons who were first permanently employed after the date of the coming into operation of the Act. Details are given in the following table :—

A. Statement of Membership as from the 1st January, 1906.

It is found on comparison of the number of original contributors at the 31st March, 1907, with the number as at 31st March, 1908, that, as a net result of the admissions to and withdrawals from the fund during the year, there is a decrease of 27 contributors whose contributions were at the rate of 5 per cent., 21 at 6 per cent., 16 at 8 per cent., 11 at 9 per cent., and 17 at 10 per cent. ; while there was an increase of 4 at 7 per cent.: the net totals showing a decrease of 88 in the number of original contributor's. A similar comparison of the number of ordinary contributors shows a net increase of 120 at 5 per cent., 11 at 6 per cent., 9 at 7 per cent., 11 at 8 per cent., 3 at 9 per cent., and 4 at 10 per cent. : a total net increase of 158 ordinary members. It will be observed that the decrease relates to " original " members on account of whom a greater liability is attached to the fund than in the case of ordinary members. Details are given in the following table :—

B. Statement of Contributors on the Register as at 31st March, 1908, grouped according to Rate of Contribution per Cent. of Salary.

Original Members. Ordinary Members. Total Number at End of Year. Admitted. Left. Number at End of Year. Admitted. Left. Number at End of Year. Number. Year ending. 2,720 50 127 ]38 2,593 2,505 219 197 39 219 377 2,812 2,882 31st Maroh, 1907. 1908.

Contribution per Cent. of Salary (Date when First Contribution became payable). Original Members. Ordinary Members. Total. M. F. Total. M. F. Total. M. P. Total. 5 6 7 8 9 10 361 554 915 175 239 414 212 197 409 181 115 296 145 71 216 229 26 255 1,303 1,202 2,505 91 10 10 10 5 7 171 25 24 12 11 1 262 35 34 22 16 8 452 185 222 191 150 236 725 264 221 127 82 27 1,177 449 443 318 232 263 Totals 133 244 377 1,436 1,446 2,882