3

H.—26

Progress of the Fund. —The following table illustrates the position of matters in'relation to the fund since its inception : —

General. —Several alterations in the Superannuation Act are necessary, and the Government will be requested to introduce a Bill to Parliament at the first opportunity embodying the proposed amendments. G. J. Anderson, Chairman. Public Service Superannuation Fund. Revenue Account for the Year ended 31st December, 1910. £ s. d. Retiring-allowances— £ s. d. Amount of fund at beginning of year.. 1,125,705 10 4I To members .. .. .. 100,611 3 2 Members'contributions— To widows and children .. .. 12,758 6 3 Under section 29 (ordinary) .. 176,903 19 0 Contributions returned— Transfers from other superannuation Under section 46, Amendment Act funds.. .. .. .. 324 14 0 (left service) .. .. .. 34,946 3 1 Government contribution .. .. 86,000 0 0 : Under seotion 42 or 43 (death) .. 9,278 15 7 Interest .. .. .. .. 63,848 0 2 j Under section 32 (cc) .. .. 1,424 4 5 Fines,&c... .. .. .. 335 8 7 Under seotion 32 (/) .. .. 1,449 17 11 Under section 38 (retirement) .. 1,028 210 Transfers to other superannuation funds (section 48) .. .. 228 9 11 Expenses— Salaries .. .. .. 1,120 17 9 Office expenses .. .. .. 330 13 1 Public Trustee's charges .. .. 1,596 8 11 Medioal fees .. .. .. 67 4 0 Post Office oharges .. .. 50 0 0 Amount of fund at end of year .. 1,288,197 10 2 £1,453,117 12 1 £1,453,117 12 1 Balance-sheet as at the 31st December, 1919. Liabilities. £ s, d. I Assets. « j Fund as per Revenue Account .. 1,288,197 10 2 ! Amount invested by the Board .. 1,203,408 9 4 Retiring and other allowances due, in j Contributions due, in course of transcourse of payment — mission.. .. .. .. 16,034 8 6 Members .. .. .. 1,928 9 3 ! Contributions transferable from other Widows and children .. .. 233 6 7 j funds .. .. .. ~ 67 4 2 Refunds of contributions due, in course Recoveries cue .. .. .. 31 13 7 of payment— Interest due and accrued .. .. 21,002 7 5 Under section 46, Amendmont Act Bank balance .. .. .. 29,555 6 3 (left servioe) .. .. .. 1,874 4 7 Balance in hands of Postal DepartUnder section 42 or 43 (death) .. 670 0 11 ment .. .. .. .. 12,179 3 2 Expenses due, in course of payment— Balance in hands of Public Trustee.. 17,216 17 0 Office expenses .. .. .. 410 0 Public Trustee's charges .. .. 525 1 2 Post Offioe charges .. .. 50 0 0 Unclaimed Account (contributions, &o.) 2,378 17 11 Valuation fees due to Valuation Department .. .. .. 48 14 0 Contributions paid in advance or in error .. .. .. .. 3,584 14 10 £1,299,495 9 5 £1,299,495 9 5 William M. Weight, Secretary and Accountant, Public Wellington, 16th June, 1920. Service Superannuation Board. Examined and found correct.—Robert J. Collins, Controller and Auditor-General.

1908. 1910. Year ended 31st Deoi imber, 1913. 1917. 1919. Total number of contributors ... 7,235 Total amount contributed annually ... £79,831 Interest received ... ... ... £1,295 Number of pensions and allowances 122 payable Annual value of retiring and other £8,881 allowances payable Total amount of contributions refunded £484 Expenses of administration ... £890 Total amount of accumulated fund ... £71,481 8,371 £92,589 £10,212 487 10,809 £118,006 £20,804 811 13,784 £146,039 £49,378 1,373 14,216 £184,928 £63,848 1,685 £39,944 £60,970 £100,389 £120,470 £5,745 £1,657 £263,948 £10,750 £1,167 £537,914 £28,656 £2,531 £1,015,603 £48,356 £3,165 £1,288,198