E.—9

1915. NEW ZEALAND.

EDUCATION: TEACHERS' SUPERANNUATION FUND.

Laid before Parliament in pursuance of the Act.

CONTENTS. Page Part 1. Extract from Report of Minister .. .. .. .. .. .. 1 2. Report of Board, with additional Statements to those prescribed by Regulations .. 2 Statements presoribed by Regulations .. .. .. .. .. .. 5

Part 1. EXTRACT FROM THE THIRTY-EIGHTH ANNUAL REPORT OF THE MINISTER OF EDUCATION. The balance at the credit of the fund on the 31st December, 1914, was £302,701, an increase over that on the 31st December, 1913, of £37,565. The income for 1914 was £78,626, and the expenditure £41,061. During the year 522 members were admitted, while 270 left the fund, a net increase of 252. At the end of 1914,— The number of contributors was .. .. .. .. .. 4,269 Of whom members under Part IX of Education Act, 1908, numbered . . 90 And members admitted under sections 3 and 4 of the Public Service Classification and Superannuation Amendment Act, 1908 (universities), numbered . . .. .. .. .. . . 56 The annual rate of contribution paid as at the end of the year was . . £47,831 The number of allowances in force at the end of the year was . . 504 representing an annual charge of .. .. .. .. £35,191 viz.,— Ordinary retiring - allowances were .. .. 318, representing £28,709 Retiring-allowances in medically unfit cases .. 56, ~ 4,419 Allowances to widows .. 72, ~ 1,309 Allowances to children . . 58, ~ 754 The amount held by the Public Trustee at the end of the year was . . £294,283 The fund receives interest on daily balances in the hands of the Public Trustee— 4J per cent, on the first £6,000 and 4j per cent, on the balance. No charge is made for investment. Provision has been made for the payment by the Government of the contributions of contributors to the fund who have enlisted with the Expeditionary Forces engaged in the war, until the release of the contributors from military duties.

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