E.—9

1920. NRW ZEALAND.

EDUCATION: TEACHERS' SUPERANNUATION FUND. [In continuation of E.-9, 1919.]

Presented to both Houses of the General Assembly by Command of His Excellency.

No. I.—EXTRACT FROM THE FORTY-THIRD ANNUAL REPORT OF MINISTER OF EDUCATION. Teacher's Superannuation Fund. The position of the fund at 31st December, .1919, and the principal figures concerning the year's transactions, as compared with those for 1918 are given below : — 1919. 1918. Balance at credit of fund at 31st December .. .. .. £526,702 £458,056 Increase over balance at end of previous year .. .. .. 68,646 37,831. Income for the yearMembers'contributions .. .. .. .. .. 72,561 60,310 Interest .. .. .. ... .. .. .. 26,686 22,666 Government subsidy .. .. .. .. ..43,000 17,000 Total income .. .. .. .. ..£142,247 £99,976 Expenditure — £ £ Retiring and other allowances .. .. .. .. 57,489 48,354 Contributions refunded, &c. .. .. .. .. .. 14,735 13,115 Administration expenses .. .. .. .. .. 1,377 677 Total expenditure .. .. .. .. £73,601 £62,146 Number of contributions at 31st December.. .. .. .. 5,019 4,894 Number of members admitted during year .. .. .. .. 533 420 Number retiring from the fund during year .. .. . . 408 318 Net increase in membership at 31st December .. .. .. 125 102 Number of allowances in force at end of year . . .. .. 784 698 Representing an annual charge of .. .. .. .. £63,448 £51,034 Ordinary retiring-allowances .. .. .. ..400 £40,493 336 £30,484 Retiring-allowances under extended provisions of section 12 of the Act.. .. .. .. .. 75 £1.0,533 71 £10,127 Retiring-allowances in medically unfit cases .. .. 94 £9,029 81 £7,1.25 Allowances to widows .. .. .. ..117 £2,119 111 £2,011 Allowances to children .. .. .. .. 98 £1,274 99 £1,287 Funds invested at 31st December - £ £ At 4| per cent. .. .. .. .. .. .. 59-,000 59,600 At 5 per cent. .. .. .. .. .. .. 26,161 26,161 At 5£ per cent. .. .. .. .. .. ..38,460 38,460 At 5| per cent. .. .. .. .. .. ..385,812 322,200 Total .. .. .. .. .. £509,433 £446,421

I—E. 9.