Railways, 1912.

15

D.—sa

TABLE X. Consolidated Revenue Account of the Government Railways Superannuation Fund from the Ist January, 1903, to the 31st March, 1912. Income. £ s. d. Funds at the Ist January, 1903 Amount transferred from the Railway Servants' Fund .. .. .. .. .. 3,606 7 9 Members'contributions .. .. .. .. .. .. .. .. .. 449,343 3 2 Arrears of contributions paid by late employees of the Wellington and Manawatu Railway Company in terms of section 96 (2) of the Government Railways Act, 1908 .. .. .. .. 7,232 10 8 Contribution by the company in terms of the same section of the Act .. .. .. .. 5,000 0 0 Payment made by the Amalgamated Society of Railway Servants in terms of section 55 (1) of the Public Service Classification and Superannuation Amendment Act, 1908 .. .. .. 1,500 0 0 Government contributions .. .. .. .. .. .. 50,000 0 0 Transfers from other funds .... .. .. .. .. .. .. 17 12 0 Interest| ... .... .. .. .. .. .. .. .. 49,661 8 5 Fines .. .. .. ... .. .. .. .. .. .. 3,206 5 10 Miscellaneous .. .. .. .. .. .. .. .. .. .. 717 8 £569,575 5 6 Outgo. £ s. d. Pensions to members .. .. .. .. .. .. .. .. .. 256,652 16 8 Pensions to widows and children .. .. .. .. .. .. .. .. 32,793 13 0 Contributions returned, together with compensation paid at death or withdrawal.. .. .. 41,713 18 1 Transfers to other funds .. .. . . .. .. .. .. .. .. 422 10 4 Public Trust Office Commission .. .. .. .. .. .. .. .. 3,890 17 11 Travelling and legal expenses .. .. . . ... .. .. .. .. 610 2 8 Fines remitted and refunded . . .. . . . . .. ~ .. .. 33 18 4 Funds at the 31st March, 1912 .. .. .. .. .. .. .. .. 233,457 8 6 £569,575 5 6

TABLE XI. Valuation Balance-sheet of the Government Railways Superannuation Fund as at 31st March, 1912. Liabilities. £ Value of 714 pensions for £52,463 ss. 10d. per annum already granted .. .. .. .. 390,828 ~ 172 pensions for £3,096 per annum granted to widows of contributors .. .. . . 36,326 ~ 259 pensions for £3,367 per annum granted to the children of deceased contributors .. .. 14,867 ~ prospective pensions for back service .. .. .. .. .. .. .. 1,034,257 „ „ for future service .. .. .. .. .. .. .. 941,180 „ „ to widows .. .. .. .. .. .. .. 111,509 „ „ to children .. .. .. .. ..' .. .. 44,839 „ return of contributions on death .. .. .. .. .. .. .. 13,335 „ „ on withdrawal .. .. .. .. .. .. .. 156,053 £2,743,194 Assets. £ Accumulated funds .. .. .. .. .. .. .. .. .. .. 233,457 Value of future contributions .. .. .. .. .. .. .. .. .. 732,886 subsidy of £25,000 per annum .. .. .. .. .. .. ~ .. 625,000 „ increase in subsidy of £25,000 per annum now necessary .. .. .. .. .. 625,000 ~ future increases in subsidy to be provided .. .. .. .. .. ~ 526,851 £2,743,194

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