D.—s

2

The following show the balances brought forward at the end of each year, and also the annual value of the allowances actually granted by the Board in each year:— Balanoe forward. Allowanoe granted. £ s. d. £ s. d. 1903 ... ... ... ... 7,056 11 9 1904 ... ... ... ... 40,357 17 3 12,010 14 8 1905 ... ... ... ... 68,670 7 8 8,519 7 8 1906 ... ... ... ... 90,984 11 10 6,348 13 7 1907 ... ... ... ... 110,736 12 3 4,398 14 11 1908 ... ... ... ... 126,642 18 11 7,332 7 11 1909 ... ... ... .. 157,151 14 9 6,359 11 0 1910 ... ... ... ... 173,876 1 8 11,828 0 6 1911 ... ... ... ... 207,242 711 8,064 11 5 1912 ... ... ... ... 233,457 8 6 7,065 16 4 1913 ... ... ... ... 264,455 5 4 8,568 6 6 1914 ... ... ... ... 295,469 11 6 9,865 17 8 1915 ... ... ... ... 346,155 18 2 11,871 14 3 1916 ... ... ... ... 362,810 4 2 9,662 2 5 1917 ... ... ... ... 377,585 2 1 11,733 11 11 1918 ... ... ... ... 373,097 12 7 8,386 4 0 1919 ... ... ... ... 363,804 4 4 9,252 17 8 1920 ... ... ... ... 408,232 10 8 20,341 7 3 1921 ... ... ... ... 464,490 17 0 20,346 8 9 1922 ... ... ... ... 543,531 10 8 23,050 2 0 1923 ... ... ... ... 584,219 2 4 22,791 1 0 1924 ... ... ... ... 671,827 6 6 21,272 4 0 • 1925 ... ... ... ... 734,112 811 36,409 14 0 285,479 9 5 Less members died, &e. ... ... ... ... 79,900 18 8 Annual liability at 31st March, 1925 ... ... ... £205,578 10 9 The amounts shown in the lists attached to the balance-sheets are those actually disbursed during the year, and do not represent the total annual allowances granted by the Board to the 31st March, 1925, which were, — Life allowances on account of voluntary retirements (1,727 £ s. d. persons) 220,981 17 2 Life allowances on account of retirements as " medically unfit" (448 persons) ... ... ... ... ... 37,492 12 3 Allowances to 630 widows and 1,205 children ... ... 27,005 0 0 Total annual allowances granted ... ...£285,479 9 5 Since the inauguration of the fund 825 beneficiaries have, however, died, and 17 members who had been placed on the fund as "medically unfit" resumed duty. The fund was relieved of an annual liability of £67,291 18s. Bd. in respect to these 842 members ; 678 children have reached the age of fourteen years, 15 children have died, 137 widows remarried,.63 widows died; lessening the liability of the fund by an additional £12,609 per annum. There were 2,275 persons actually on the fund at the 31st March, 1925, involving an annual liability of £205,578 10s. 9d. J. G. Coates, Chairman of the Government Eailways Superannuation Fund Board.