E.—B

1943 NEW ZEALAND

EDUCATION: TEACHERS' SUPERANNUATION FUND

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

THIRTY-SEVENTH ANNUAL REPORT OE 1 THE TEACHERS' SUPERANNUATION BOARD For the Yeak ended 31st January, 1943 The Hon. the Minister of Education. Wellington, 17th August, 1943. Sir, — The Board has to submit the following report for the year ended the 31st January, 1943 :— The Board.—The usual quarterly meetings of the Board were held in February, May, August, and November. Payment of cost-of-living bonus amounting to £358 2s. 4d. was made by the Government in certain necessitous cases. The following statements show the transactions, See., of the fund for the year ended 31st January, 1943. For the Teachers' Superannuation Board, J. A. Clements, Secretary.

(A) REVENUE ACCOUNT eor the Year ended 31st January, 1943 £ £ Balance 31st January, 1942 .. .. .. 954,640 Retiring and other allowances .. .. .. 351,870 Contributions of members (including transfers) . . 177,151 Contributions refunded— £ Additional contribution from Fijian and Tongan On voluntary retirement .. .. 19,996 Governments .. .. .. .. 325 On death of members .. .. .. 9,113 Government subsidies .. . . .. .. 159,806 On lapse of membership .. .. 2,060 Interest— £ 31,169 On investments and contributions in arrears 41,742 Rebate of contributions under National Expenditure Less investments written down (pro- Adjustment Act, 1932, section 9 (2), to annuitants 581 portion of premium on purchase of Contributions transferred to other funds .. .. 2,097 investments) .. .. .. 346 Administration expenses .. .. .. .. 3,614 Reserve for actuarial examination .. .. 150 41,396 Balance at 31st January, 1943 .. .. .. 944,337 Plus investments written up (proportion of discount on purchase of investments) 500 41,896 £1,333,818 £1,333,818