H.—26a

8

TABLE VII. Statement of the Statistical Basis upon which the Valuation has been made. 1. The proportions of contributors dying, withdrawing, and retiring at each age were as far as possible got from the experience of the fund itself up to 1913, the death-rates among males embracing also the experience of the Government Railways Salaried Division (1903-12), and tho rate of retirement among females the experience of female teachers in the Teachers' Fund. The death-rates of female contributors were adopted from the experience of female teachers in Britain (Mr. George King), after comparison with the somewhat meagre data of the fund itself. Owing to the disturbing influence of the war, little use could be made of the statistics of the fund subsequent to 1913. The resultant Experience Table is appended (Table VIII) ; also the Life and Service Table deduced therefrom (Table IX). 2. A scale of average salaries was constructed from current data of the fund, for the purpose of deducing ratios of increase to be applied to tho actual salaries of contributors as at 31st December, 1919. 3. The mortality of pensioners was taken according to tho experience of the Public Service, Teachers', and Railways Superannuation Funds combined up to 1919, whilst for the female pensioners the table used on the last occasion was employed—viz., a table constructed with the guidance of the limited experience available, giving rates somewhat below those of the Now Zealand population. 4. Widows' and children's benefits were valued on the same basis as before —viz., the statistics of the fund combined with death-rates of widows and children from Dr. Farr'e " Healthy English Tables," and rates of remarriage of widows from the statistics of the general population (widows and spinsters).

TABLE VIII. EXPERIENCE TABLE. Rates per Cent, per Annum of Withdrawal, Mortality, and Retirement.

Ooni iributing Membei rs : Males. Ci mtributing Members : Females. Age. Rate of Withdrawal (Public Service Superannuation Fund). (Combed **w* N ( e C w°tSand Service K «P«- am at on Tund) "■*>■ Rate of Withdrawal (Public Service Superannuation Fund). Rate of Retirement Bate of (Combined Mortality Now Zealand (Assumed). Superannuation Funds). Age. 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 6-50 6-40 6-28 6-16 6-03 5-90 5-75 5-61 5-46 5-30 5-13 4-95 4-76 4-55 4-30 410 3-90 3-73 3-57 3-43 3-32 3-22 3-12 302 2-92 2-82 2-72 2-62 2-52 2-42 2-32 2-22 2-12 2-01 1-91 1-81 1-70 1-60 1-50 1-40 1-30 1-20 1-09 0-98 0-88 0-73 0-52 0-20 0-20 0-20 0-20 0-20 0-21 0-21 0-22 0-23 0-10 0-24 0-10 0-25 0-10 0-26 0-10 0-27 0-10 0-28 0-10 0-29 0-10 0-30 0-10 0-32 0-12 0-34 0-14 0-36 0-16 0-38 0-18 0-40 0-20 0-42 0-20 0-44 0-20 0-46 0-21 0-49 0-22 0-52 0-23 0-53 0-24 0-54 0-25 0-55 - 0-26 0-57 0-27 0-59 0-28 0-60 0-29 0-63 0-30 0-67 0-41 0-70 0-53 0-73 0-68 0-78 0-88 0-82 1-12 0-86 1-37 0-92 1-69 0-98 2-07 1-05 2-52 1-15 3-05 1-25 3-74 1-37 4-57 1-52 5-81 1-69 7-91 1-88 13-00 2-12 21-20 2-40 29-50 3-00 315 3-40 3-90 5-50 7-40 9-30 11-10 12-80 13-70 13-90 13-90 13-70 13-30 12-80 12-00 11-00 10-00 9-20 8-60 8-10 7-75 7-40 7-10 6-90 6-70 6-50 6-20 5-90 5-50 5-10 4-56 3-85 0-22 0-23 0-24 0-25 0-26 0-27 0-29 0-30 0-31 0-31 0-32 0-32 0-32 0-32 0-32 0-32 0-32 0-32 0-32 0-25 0-32 0-25 0-33 0-25 0-33 0-25 0-33 0-25 0-33 0-30 0-34 0-40 0-34 0-50 0-36 0-60 0-38 0-70 0-40 0-88 0-44 1-08 0-48 1-38 0-52 1-83 0-57 2-58 0-63 3-63 0-69 4-63 0-76 5-90 0-83 7-43 0-90 9-25 0-98 11-88 1-07 14-63 1-15 17-38 1-25 19-88 1-34 21-30 1-45 22-50 1-56 25-00 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64