E.—B,

1937. NEW ZEALAND.

EDUCATION: TEACHERS' SUPERANNUATION FUND.

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

No. I,—THIRTY-FIRST ANNUAL REPORT OF THE TEACHERS' SUPERANNUATION BOARD. For the Year ended 31st January, 1937. The Hon. the Minister of Education. Sie ) — Wellington, 10th June, 1937. The Board has to submit the following report for the year ended the 31st January, 1937 : — The Board. —The usual quarterly meetings of the Board were held in February, May, August, and November. The following figures show the transactions, &c., of the fund for the year ended 31st January, 1937, as compared with those for previous year : — 1937. 1936. Contributors on roll at 31st January .. .. .. 8,058 8,148 Decrease from previous year ~ . . .. .. 90 352 Retiring and other allowances — Annual rate granted during year .. .. .. £17,591 £18,547 Total annual rate at 31st January . . . . . . £322,557 £315,438 Number granted during year — On retirement . . . . . • ■ • ■ • 88 93 To widows .. .. .. •. • ■ 26 19 To children .. .. . . ■ • • • 8 19 Number discountinued during year — By death . . .. .. ■ • • • 69 46 By other causes . . .. . . .. ■ . 11 8 Number current at 31st January — Retired members .. .. • • • ■ • • 1,660 1,629 Widows and children . . . . . • 378 367 Income for year — £ £ Contributions .. .. 132,631 119,568 Government subsidy — Section 112 of Act .. .. . • ■. 43,000 43,000 Section 114 of Act .. .. 4,350 4,652 Section 23, Finance Act, 1936 .. .. . • 115,000 112,800 Special on account of interest reductions .. .. 9,450 9,594 Total Government subsidy .. .. .. 171,800 170,046 Interest ... .. .. •• ■■ 44,187 46,056 Profit on realization of investments, &c. . . . . 34 38 Total income .. .. •• • £348,652 £335,708 Expenditure — Retiring and other allowances .. . . . . 323,976 313,372 Contributions refunded or transferred . . 31,481 33,508 Administration expenses, &c. . . . . - , 3,306 3,423 Total expenditure .. . . • • • £358,763 £-350,303 I—E. 8.