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Session I. 1912. NEW ZEALAND.

PUBLIC SERVICE SUPERANNUATION FUND ACTUARIAL EXAMINATION FOR THE TRIENNIUM ENDED 31ST DECEMBER, 1910.

Laid before Parliament in pursuance of Section J/S (J/) of the Public Service Classification and Superannuation Act, 190 S.

REPORT By the Actuary appointed by His Excellency the Governor to make the Actuarial Examination of the Public Service Superannuation Fund for the Triennial Period ended 31st December-, 1910, as provided by Section 48 of the Public Service Classification and Superannuation Act, 1908. Wellington, 23rd September, 1911. 1. I have made an actuarial examination of the Public Service Superannuation Fund as at the ■list December, 1910, as required by the Public Service Classification and Superannuation Act, 1908, sections 48 and 49 of which are as follows : — " 48. (1.) For the period ending on the thirty-first day of December, one thousand nine hundred and ten, and for each triennial period thereafter, an examination of the Fund shall be made by an actuary appointed by the Governor. " (2.) The actuary shall set forth the result of such examination in a report, which shall be so prepared as to show the state of the Fund at the close of the period, having regard to the prospective liabilities and assets and the probable annual sums required by the Fund to provide the retiring and other allowances falling due within the ensuing three years without affecting or having recourse to the actuarial reserve appertaining to the contributors' contributions. " (3.) The Board shall cause such report to be printed and a copy thereof to be supplied to each contributor. " (4.) A copy of such report shall, within ten days after it is received, be laid before Parliament if then sitting, or, if not, then within ten days after the commencement of the next ensuing session. " 49. (1.) In the month of January in every year the Minister of Finance shall pay into the Fund and out of the Consolidated Fund, without further appropriation than this Act, the sum of twenty-three thousand pounds, together with such further amount (if any) as is deemed by the Governor in Council, in accordance with the aforesaid report of the actuary, to be required to meet the charges on the Fund during the ensuing year. " (2.) A statement of all additional amounts so paid into the Fund shall be laid before Parliament within ten days after the payment thereof if Parliament is then sitting, or if not, then within ten days after the commencement of the next ensuing session." 2. The Act came into operation on the Ist January, 1908, and the scheme, although optional on the part of public servants qualified to become contributors upon the coming into operation of the Act, is compulsory in the case of all persons who are first permanently employed in any capacity in the Public Service thereafter. "Public Service" is interpreted in the Act to include the High Commissioner's Office, the Legislative Branch, and every Department of the Government Service except the Government Railways Department, so much of the Police Department as is included in the Police Provident Fund Act, 1899, and so much of the Education Department as is included in the Teachers' Superannuation Act, 1905. The Police Provident Fund was merged in the Public Service Superannuation Fund on the Ist April, 1910, and since that date it became compulsory in the case of all new members of the Police Force to join the Fund.

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With a few exceptions, made by section 52 of the Act, the scheme embraces all permanent public servants outside the Government Railways Superannuation Fund and the Teachers' Superannuation Fund. The exceptions referred to are — (a.) Members of the General Assembly or Ministers of the Crown. (b.) Any Judge of the Supreme Court or of the Court of Arbitration. (c.) The High Commissioner. (d.) Any person entitled under any Act to receive a pension on his retirement from the Public Service. (c.) Any person who is remunerated by fees or commission and not by wages or salary. (/.) Members of the Defence Forces, except the Permanent Militia and other persons permanently employed in the said Forces. (g.) Any place or office declared by Order in Council not to be or to cease to be subject to the Act. 3. Particulars of the contributions and benefits provided by the Act, together with statements showing the progress of active membership, the discontinuance of membership from various causes, and the progress of the pensions for each year, will be found in Tables I to IV of the Appendix to this report. The ages of the contributors at the date of the valuation, together with their contributions and other particulars, are shown in Table V, and the ages at which pensions have been granted in Table VI. 4. Ihe number of pensioners on the Fund at 31st December, 1910, was 487, and their pensions amounted to £39,944 per annum; the number of contributors at the same date was 8,371, with aggregate salaries amounting to £1,358,119, and paying contributions at the rate of £92,589 per annum. 5. The income and outgo of the Fund during the three years are shown in the Consolidated Revenue Account, which is as follows :— Consolidated Revenue Account of the Public Service Superannuation Fund from the Ist January, 1908, to the 31st December, 1910. Income. £ s. d. j Outgo. £ s. d. Funds at the Ist January, 1908.. .. .. j Pensions to members .. .. .. 54,861 18 5 Members' contributions .. .. 227,887 13 10 Pensions to widows and children .. 2,365 16 2 Police Fund merged .. .. .. 32,785 15 4 Contributions returned .. .. 9,817 5 I Government contributions .. .. 62,500 0 0 Compensation .. .. .. 5,540 5 3 Transfers from other funds .. .. 50 11 11 Transfers to other funds .. .. 39 3 8 Interest .. .. .. .. 16,825 5 9 ! Salaries .. .. .. .. 1,866 15 9 Fines .. .. .. .. 509 3 8 Public Trust Office commission .. 1,705 8 5 Travelling and office expenses .. .. 413 17 9 Funds at the 31st December, 1910 .. 263,948 0 0 £340,558 10 6 £340,558 10 6 6. Before dealing with the results of the investigation, I will as briefly as possible explain the valuation basis, or, in other words, the various assumptions which have been made in estimating the future progress of the Fund. The rate of interest used throughout is 4 per cent. The Fund has earned more than 4 per cent, during the triennium, arid, although it may not be expected that this rate will be kept up permanently, I do not consider it desirable to assume a lower rate at present. A considerable lowering in the distant future of the earning-power of the Fund in this respect would, of course, involve an increase in the subsidy required, and as an indication of what would happen in that event I may say that if, when the Fund has increased to £1,000,000, as it must do in a few years, only £3 18s. per cent, were obtained on the average instead of £4 an aditional subsidy of £1,000 would be required. Considering the nature of the Fund, I do not think it is advisable to take less than 4 per cent, for the financial basis, and this is the rate I have assumed in the calculations. 7. The Experience Table (Table VII) contains the rates per cent, per annum of withdrawal, mortality, retirement, and increase of salary. With the exception of the rate of mortality (which has been assumed to be the same as in Dr. Farr's Healthy English Mortality Table), all these rates have been taken from the experience of the Fund itself; and from them has been constructed the Life and Service Table (Table VIII), showing, out of, 100,000 entering at age fifteen, the numbers who will withdraw, die, and retire in each year. This Life and Service Table is the basis of the present calculations with reference to the Fund. It has been assumed that all male and female contributors will retire at the ages of sixty-five and sixty respectively, if they have not retired before those ages. In dealing with widows' benefits the rates of marriage have been deduced from the New Zealand marriage statistics of spinsters and widows for the years 1905-7, and the females living from the New Zealand census (1906). 8. I will now draw attention to the contents of Table IX, which shows the contributions necessary to secure the benefits of the Fund, on the basis explained in the last two paragraphs, alongside the'contributions that are payable. It will be seen that, so far as the contributors' own pensions alone are concerned, and excluding the pensions for back service for which no contributions have been received, the contributions actually payable are on the whole amply sufficient without Government assistance; but when to those pensions are added the widows' and children's pensions and return of contributions upon death or withdrawal it becomes necessary that the contributions payable by members should be supplemented by Government subsidies, as provided for by the Act. The

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only effective way of ascertaining how far the contributions fall short of providing the whole of the benefits is to make an ordinary actuarial valuation of the whole of the liabilities and assets, as the result of which the total discounted liabilities must be equalized by the sum of the total discounted contributions (including Government annual subsidies) and the present accumulated funds, the item subject to adjustment being the subsidies. The resulting detailed Valuation Balance-sheet is shown in Table XI, which is summarized as follows: — Liabilities. Value of contributors' pensions already granted for £38,253 per £ annum ... ... ... ... ... ... 320,623 Value of widows' and children's pensions already granted for £1,691 per annum ..: ... ... ... ... ... 16,749 Value of prospective pensions (to present contributors) for back service ... ... ... ... ... ... 1,199,784 Value of prospective pensions (to present contributors) for future service) ... ... ... ... ... ... 798,916 Value of prospective pensions to widows and children of present contributors ... ... ... ... ... ... 364,130 Value of return of contributions on death or withdrawal ... ... 258,914 £2,959,116 Assets. Accumulated funds ... ... ... ... ... ... 263,948 Value of contributors' contributions ... ... ... ... 963,060 Value of present and future Government subsidies ... ... 1,732,108 £2,959,116 9. The chief points of note in the foregoing valuation summary are : — (a.) The value of the contributors' contributions (£963,060) considerably exceeds the value of contributors' prospective pensions for future service (£798,916). (b.) The greater part of the Government's liability is caused by the pensions for back service, the value of which is £1,199,784, but for which the present annual subsidy would have been sufficient without further increases. (<;.) The value of the total liabilities to be met by the application of present and future subsidies is £1,732,108, and I now proceed to report as to the probable annual sums required by the Fund as subsidy during the ensuing three years. 10. I must preface this portion of my report by a statement in reference to the two sets of data upon which the present investigation and a previous one made four years ago were based. In 1907 I supplied actuarial reports upon the Civil Service Superannuation Bill, 1906, and the Public Service Superannuation Bill, 1907, from the former of which it will be seen (1.-11 a, p. 10) that information was furnished to me respecting 5,593 persons with aggregate salaries amounting to £876,125 per annum. It was then understood that those figures approximately represented the maximum numbers and salaries of initial contributors to the Fund then being started. But during the first year of the Fund no less than 7,546 contributors joined, with aggregate salaries amounting to £1,154,866 per annum; or, to put it more clearly, the original data supplied to me contained approximately not more than three-fourths of the contributors who actually joined, the scheme at the outset. lam not aware that any one was to blame in the matter; the result was probably due to bringing classes of public servants into the scheme not originally contemplated. The only reason for drawing attention to the matter now is that numerous estimates put forward in my 1907 reports, or submitted by me in evidence before the Public Accounts Committees of 1907 and 1908, were consequently understated, and should be increased by one-third, or otherwise the material difference between my former and present estimates might lead to serious misunderstanding. 11. I have estimated " the probable annual sums required by the Fund to provide the retiring and other allowances falling due within the ensuing three years without affecting or having recourse to the actuarial reserve appertaining to the contributors' contributions," as required by the Act, and the following is the result: —

1 therefore have to report that, in addition to the annual subsidy of £23,000 now being paid, further subsidies of £20,000, £24,500, and £29,000 will be the minimum likely to be required for the years 1911, 1912, and 1913 respectively.

Required for 1911. 1912. 1913. Current ordinary pensions Prospective pensions to existing contributors now over pension age New pensions, family pensions, and miscellaneous benefits £ 36,280 4,391 4,707 £ 34,283 4,199 12,293 £ 32,266 4,000 19,845 Total sums for retiring and other allowances Deduct amounts provided by contributors' contributions without having recourse to the actuarial reserve appertaining to them* 45,378 2,318 50,775 3,250 56,111 4,350 Subsidies required for ensuing three years 43,060 47,525 51,761 * For definition of this see paragraph 12.

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12. Seeing thai at the present time members are themselves contributing upwards of £90,000 per annum to the Fund, it may seem strange that only such comparatively small sums as £2,318, £3,250, and £4,350 are considered as being available inwards paying the retiring and other allowances of the three years. Indeed, 1 am personally aware that it appears to many wellinformed people quite inexplicable that this should be the case. And yet, as 1 will try to explain, there can be no doubt about it. 1 have already explained the matter carefully and at: some length in my previous report (1907, I.—11a) in paragraphs 13—18 and 21, to which 1 beg to refer inquirers. 1 do not intend to repeat that matter here, but l.have prepared Table X with the object of throwing further light on the subject. Referring to that portion of the table mentioned which relates to males, it will be seen that 284 are drawing pensions amounting to £30,038 per annum. None of these pensioners can have paid more than three years' contributions- —in fact, they had paid (inly £8,968 in all—and this sum would have purchased pensions amounting to £1,038 per annum, or only 35 per cent, of the total pensions, leaving the balance of £29,000 to be paid out of Government subsidy. If any individual case is taken from the table it will be found to be the same; during the early days of a fund of this kind the members' own contributions cannot possibly purchase more than a very small proportion of their pensions. The following example will, ] think, make the point still clearer. At the initiation of the Fund a joining member was 64 years of age, having entered the service at age 35, his final salary being £250. After paying 10 per cent, of his salary for one year he arrived at pension age, 65, and his thirty years of service entitled him to a pension of half his salary, £125. The £25 he had paid in contributions would purchase (say) £2 10s. per annum pension, or 2 per cent, of the total, and the remaining £122 10s. per annum had to be paid out of the Government subsidy, in accordance with the principles on which the Fund is based. If that £122 10s. per annum were paid from the contributions of younger members instead of from subsidy it would be a departure from those principles, as laid down in paragraph 18 of my former report, in which I said, " That part of the contributions intended to meet a portion of the future liability should be accumulated at interest, and not used for any other purpose "; and for general information this may be accepted as a definition (sufficiently accurate for practical purposes) of the expression " the actuarial reserve appertaining to the contributors' contributions " referred to in the Act, section 48 (2), and in this report. The accounts anti investigation show that in wdiat has been done and in w r hat is proposed to be done those principles have been adhered to, and I am confident that to do otherwise would be to bank up trouble for the future. Before passing from this portion of the subject I would point out that the " amounts provided by contributors' contributions " (vide Table in paragraph 11), although small, increase sensibly year by year : it has been shown from Table X that in the case of existing male pensioners they were only 35 per cent, of the pensions, in 1911 they are s'l per cent, in 1912 they will be 64 per cent., and in 1913 they will have increased to 7'B per cent. This increasing proportion may be expected to continue as the Fund grows older. 13. Reverting to the Valuation Balance-sheet in Table XI, of which a summary appears in paragraph 8, I think it desirable to explain the last item, " Value of future increases in subsidy to be provided, £532,108." The remainder of the assets are represented by funds in hand, value of contributions, and value of subsidies already authorized or proposed to be authorized immediately in addition thereto, and £532,108 is the difference between the total liabilities and the actual assets, being of the nature of a deficiency, which is acknowledged to exist, but which it is not proposed to provide for until a later date. Its presence is the principal reason of the necessity for a further triennial increase in the subsidy for some years to come, for the new members joiningyear by year are mostly young people whose contributions do not require much assistance to provide the benefits obtained. The increased subsidies now recommended will need to be paid out every year, and no portion of them will be used to augment the funds being accumulated by the contributions. To give less subsidy than is recommended would cause an improper depletion of the contributors' actuarial reserve; to give more would unnecessarily swell the accumulated funds. I know that it is held by some to be unsound superannuation finance not to provide immediately for tho whole of the liability in connection with such a fund, but I am thoroughly convinced that so long as the contributions are not improperly trenched upon it is quite permissible to adopt a sliding scale of subsidy sufficient to provide for the outgo year by year. I would point out that the capital value at 4 per cent, of the Dominion's total liability in connection with its engagements, present and prospective, regarding old-age pensions must certainly be over ten millions sterling, yet no one would advocate doing more to liquidate that liability than pay the increasing yearly charge, now about £400,000. If the people themselves provided a portion of their old-age pensions hy direct contributions, as the public servants do, I should consider it proper for those contributions, to be accumulated to a certain extent to form an actuarial reserve. 34. I have reported that the actual minimum subsidies required for the ensuing three years are £43,00 ft, £47,500, and £52,000. It is quite clear that these subsidies must increase for some years, and I think the future limit will probably be between £80,000 and £90,000. Each succeeding triennial investigation will enable this point to be settled with greater precision. I had already foretold that this would be the case in my evidence three years ago before the 1908 Public Accounts Committee, when I expressed the opinion that the limit would be £60,000 or over. If that is increased by one-third, bearing in mind the deficiency in the old data alluded to in paragraph 10, the two estimates practically coincide. In a similar way, the present increases in subsidy arc not antagonistic to those I gave as estimates three years ago. 1 then said that £30,000 would have been, a more satisfactory subsidy to start with than £20,000. and that it would increase yearly by perhaps as much as 10 per cent. These considerations, together with the deficiency in the old data, will show that the present subsidies are not larger than might have been expected. It was due to unusual circumstances, which will not recur, that the £20,000 annual

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subsidy originally granted was sufficient for the first three years. Although £39,941 per annum was the total pension list tit the close of the trienniuni, which amount we are certain to have to provide for henceforth, during the first year of the Fund there was paid only £3,355 as retiringallowances, and a large number of public servants who were eligible as pensioners at the initiation of the Fund did not retire until the second and third years. Although it is altogether a matter of convenience, I am inclined to recommend that the most satisfactory course will be to strike a, fair average subsidy for the next three years, and make it £48,000 per annum for the trienniuni. 15. Against the subsidies, however, there must lie set a considerable saving that has been made through the operation of the Superannuation Fund; indeed, a larger amount of compensation has been saved during the first three years than the subsidy which has been paid. The compensation avoided by the Consolidated Fund since the commencement of the Public Service Superannuation Fund through officers retiring on the latter Fund was £23,792 in 1908, £54,786 in 1909, and £14,854 in 1910, or a total of £93,432 during the three years, as against a total subsidy paid of £62,500. 1 have extracted the compensation of existing officers, accrued to the date of their joining the Public Service Superannuation Fund, and the total amount is £489,689. The payment of any of this, which would otherwise have been due from the Consolidated Fund on the compulsory retirement of officers, will be avoided by the existence of the Public Service Superannuation Fund, excepting (1) such as is paid out of the Public Service Superannuation Fund itself, and (2) such as is paid at death out of the Consolidated Fund in accordance with last year's amendment of the Act. The latter amount is likely to be very small at first, and will vanish entirely by the time those members on whose behalf the compensation lias accrued have all retired. Moreover, gratuities, which, amounted to £9,025 the year before the Fund was set up, were reduced to £1,137 for 1908, £2,894 for 1909, and £575 for"l 910. I have also made a subsidiary investigation of the pensions now payable and becoming payable in future under the old Civil Service Acts : these amounted to £32,880 last year (1910), and will have decreased to £22,200 in 1920, to £6,700 in 1930, and will probably have ceased altogether by 1940, 16. It would seem appropriate that, on the conclusion of an investigation such as this, the person making it should express an opinion about the vexed question of amendments to the Act, hardly a year passing without some alteration being suggested. Perhaps the most important amendment asked for is an increase in the present annuitj' of £18 to widows, I think very few people realize how much these benefits cost. An annuity of £18 to a widow aged 55 is equivalent to a life-insurance policy of £200. Even this small and somewhat despised annuity of £18 to the widows costs one-fourth of the contributions necessary for the members' own pensions at joining-age 15, one-third at age 52, one-half at age 58, and more than the contributions for the members' own pensions at age 62. Therefore it is evident that to give widows a pension of £52 per annum, or anything approaching that figure, would be to place an immense extra strain upon the Fund, whereas if no widows' or children's pensions were included in the scheme it would be practically self-supporting, without need of any Government assistance, so far as pensions for future service are concerned. All prudent men are supposed to insure their lives to provide for their families, irrespective of any provision made by themselves or others for their own old age, and I do not think tli&j should expect their employers, whether Government or private, to relieve them of this plain duty. Although I am a strong believer in the value of a Fund of this nature, I am not prepared to advise any increase in the benefits referred to, and I do not think it would be right to overburden the Fund in this manner. The members have received an important benefit of this description by the amendment of last year, giving their widows an insurance to the extent of their accrued compensation, but this is of a very different kind, and as I have already said the outgo in this direction will be small at first and eventually disappear altogether. The limitation of future contributors' pensions to £-300 lias already been, effected, but the best authorities agree that this will not cause a great saving, especially where the average of members' salaries is small. A more effective method of relieving the Fund in regard to future contributors would be to reduce their pension scale to one-eightieths instead of one-sixtieths as at present. If this were done future members would get, after forty years' service, one-half of their salaries as pension instead of two-thirds, and the Fund would be practically self-suprjorting without Government assistance so far as future contributors are concerned, even with the present widows' and children's benefits and without the limit of £300 pension. This is perhaps worthy of consideration although there may be no pressing need for>such a change. So far as amendments generally are concerned it is detrimental to the Fund to have the benefits continually interfered with, and I am very strongly of opinion that after this investigation it should be determined what amendments are desirable, make them, and let the Service clearly understand that the benefits will not be altered again, I'm- better or fur worse. I say emphatically that so long as the Fund is (-(inducted on the present lines it will be a credit to the Dominion, an institution able to stand any investigation, and to which its members should be proud, to belong. 17. In concluding this report I would express a hope that it may give satisfaction. Should it be considered at all worthy of commendation, a large share is clue to Mr. Percy Muter, F.1.A., the Assistant Actuary in the Government Insurance Department, who has had charge of the valuation, and to the small but efficient staff working under his guidance. For my own part, it has been a great pleasure to perform, to the best of my ability, the important work intrusted to me. MORRIS FOX, Actuary to the Government Insurance Department.

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APPENDIX. TABLE I. The Benefits and Contributions provided for by the Act. / The contributions vary according to the age at the time when the first contribution becomes payable, and are as follows : — ' Age 30 and under .. . . .. .. 5 per cent, of pay. Over 30 and not exceeding 35 . . . . 6 „ ) „ 35 „ 40 7 „ 40. „ 45 8 „ 45 „ 50 .. .. ..9 \ „ age 50 .. .. .. .. .. 10 „ { I. On Attainment of Pension. Males at Age 65, or after Forty Years' Service ; Females at Age 55, or after Thirty Years' Service. (1.) A pension of one-sixtieth of yearly salary for each year's service, with a limit of forty-sixtieths (two-thirds) of salary. Maximum pension for entrants after 24th December, 1909, £300. (2.) Or the option, in lieu thereof, of a return of total contributions. (Note. —The Minister in charge of a Department may retire contributors on pension in the following cases : — (a.) Where the age of a male contributor is not less than 60, or of a female contributor not less than 50. (b.) Where the age of a male contributor is not less than 55, if his length of service is not less than thirty years, (c.) Where the length of service of a male contributor is not less than thirtyfive years. In any such exceptional cases the Minister may impose upon the retiring contributor such terms and conditions as to payments into the Fund or otherwise as he thinks fit.) 11. On retirement before Pension Age (on the Grounds of being medically unfit for Future Duty). ( 1.) At any time, on the certificate of two doctors approved by the Board, a pension of one-sixtieth of yearly salary for each year's service, limited to forty-sixtieths. ' (2.) Or the option, in lieu thereof, of a return of total contributions. (Where officers of the Police Force are incapacitated by injuries received on duty the Board may increase the pension up to three-fifths of salary.) 111. On Retirement before Pension Age (on other Grounds than Medical Unfitness). (1.) On voluntary retirement or dismissal for misconduct, a return of total contributions. (2.) On compulsory retirement for any reason other than misconduct, after twenty years' service, a return of total contributions with 3J per cent, compound interest. IV. At Death, whether before or after becoming entitled to a Retiring-allowance. (1.) Leaving no w.idow r or children : A return of total contributions less any sums received from the Fund during lifetime. (2.) Leaving a widow : — (a.) £18 yearly during widowhood, or (b.) A return of total contributions, together with such compensation (if any) as the contributor would have been entitled to receive from the Consolidated Fund on compulsory retirement, less any sums received from the Fund during lifetime. (If death occurs before retirement the compensation is paid from the Consolidated Fund ; if after retirement, from the Superannuation Fund.) I (3.) Leaving children : ss. weekly to each child until age 14. -The contributions and pensions are payable monthly, and the pensions are computed on salary for the last three years.)

Contributions

Benefits

(Note.the average

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TABLE II. Statement of Progress of Active Membership.

TABLE III. Particulars of Discontinuance of Active Membership.

TABLE IV. Statement of Progress of Pensions.

> ew Member! Increase by Promotion. Di iscontinued. Total in Force at End of Year. Year. Number. Salaries. Annual Contributions. Annual Salaries. Contributions. Number. Annual Salaries. Contributions. I Annual Number., Salaries. Contributions. i .908 .909 .910 7,546 717 1,520 £ 1,112,099 77,877 205,427 £ 80,526 5,290 12,814 £ £ 37,769 , 2,301 58,268 3,425 73,936 4,509 310 630 472 I £ £ 42,521 3,463 103,414 I 8,575 61,322 4,238 7,236 7,323 8,371 £ £ 1,107,346! 79,364 1,140,077, 79,504 1,358,119; 92,589 Totals.. 98,630 169,973 | 10,235 1,412 |207,257 16,276 9,783 11,395,403 Note.—The figure: for 1908 and 1909 contained in the mnual report havi been ad usted.

Year. h 03 .3 g 3 J5 By Dea 24 ta.o" -I ■ < 6b.. a 03 P4 By Withdrawal or Dismissal. 2 4 0.43 .Q fl fl S SaS § a§a Old ige or L( Service 2 4 aM* s a 2a§ 3 o a iy Pensioi ength of e. ag 03 o P. 03 3 a — .3: o U3 U B 01 IS. Mec ui lically Qfit. a a <» o §■5 ■2 oi OJ u a oi On £ 1,838 1,958 1,101 4,897 By Ti toe Pu 01 A a ransfer 3ther inds. .a <d ea*H a %• Total discontinued. I Sg an ' &A ® o : p.-** p. j oi up s I a M -g §« d I o n 01 to 3 «o a §-3 Y-i < fu 310 484 8,933 630 3,628 ; 19,673 472 5,745 I 5,628 1,412 9,857 |34,234 g9 to 03 5 B u 03 A g 3 i I 1908.. L909.. 1910.. < 24 ; 37 i 28 £ 41 148 768 £ j £ 437 190 121 676 417 3,454 380 387 4,964 | 1,493 994 8,839 74 154 42 ' £ 21 £ 6,658 17,039 4,147 20 19 ; 13 2 3 2 £ 22 5 13 Totals .. i i 89 1 957 270 j 21 27,844 52 7 40

Year. Granted or transferred. Num-" Pension. Attainment of Pension Age or Length of Service. t? (Section 35, &c.) a iruansfefred. Void by Death. In Force. m . £j Pension. | Pension. 74 6,658 1 57 73 6,601 20 153 ! 17,038 4 324 222 23,315 19 84 | 8,737 12 945 294 31,107 56 Void b Number. etired medically unfit. (Section 36, &c.) mted , Void by Death T „ isferred. ; or Expiry. mi<orce. Pension. Nam- pension Num- pension £ £ 4- J 1,838 I .. .. 20 1,838 1,959 | 4 677 35 3,119 4,706 5 680 86 7,146 L908 L909 L910* .. £ 74 6,658 153 i 17,038 84 | 8,737 1 4 12 Totals 311 I 32,433 17 1,326 95 8,503 9 1,357 Death of Contributor or Pensic Pension. (Sections 42 anc aner. Family d 43, &c.) Total Pensions. Year. Granted Void by Death or transferred. or Expiry. Granted ,,„., or transferred. I V0KL In: In Force. 'oree. Number. Pension. Pension. N --| Pension. IT | | »™ | Pension. | *™- Pension. .908 .909 .910* .. 30 17 40 £ 455 751 635 1 3 6 £ 13 39 98 29 73 107 £ 442 1,154 1,691 £ £ 124 ] 8,951 I 2 70 j 122 219 : 19,748 | 11 1,040 | 330 180 ! 14,078 | 23 1,723 487 £ ! 70 j 122 1,040 j 330 1,723 487 £ 8,881 27,589 39,944 Totals : 117 1,841 | 10 150 523 42,777 36 2,833 j .. * Includes pensioners trans: ferred from Polici Provident Fund.

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TABLE V. Present Annual Pay and Contributions, with Prospective Pensions to Officers now in Service.

8

Numt Age attained. Der. Female. Present Anr lual Pay. Present Annual I Vt^am^ Contributions. flgffia Male. Female. Male. Pensions at age or for f Service. Age attained. Male. Male. Female. I Female. i 75 .. .. 2 73 .. .. 1 71 .. .. 3 70 .. .. 2 69 .. .. 3 68 .. .. fl 67 .. .. o 66 .. .. 6 65 .. .. ' 27 64 .. . . 39 63 .. . . 42 62 . . .. 45 (il .. .. 50 60 .. .. 53 59 . . .. 54 58 78 57 .. 70 56 .. .. 73 55 .. .. 93 54 . . .. 168 53 .. .. 118 52 .. .. 117 51 .. . . i 99 50 .. .. 97 49 .. .. | KM 48 .. .. j 115 47 .. .. | HI6 46 .. . . ' 110 45 . . . . ! 126 44 . . . . ! 124 43 .. ..I 140 42 .. .. 152 41 .. .. I I4(i 40 .. .. 139 39 .. .. 15(1 38 .. . . 162 37 .. .. 18(1 36 . . .. : 161■ 35 .. . . 190 34 .. .. 224 33 .. .. 207 32 .. .. 191 31 .. .. i 191 30 . . . . 224 29 .. .. 233 28 .. .. ! 202 27 .. .. 186 26 .. .. 223 25 . . .. 267 24 . . .. 251 23 . . .. 252 22 . . . . i 229 21 .. .. 273 20 .. .. ! 321 i 19 .. . . 329 18 .. .. j 236 17 .. ..I 120 16 .. .. 15 15 .. .. 2 Tolals .. ■ 7.405 1 '.'. ! i 2 2 I 1 2 4 2 4 6 6 2 7 8 6 7 2 8 7 11 14 10 15 12 12 19 9 22 24 22 15 19 30 29 40 39 59 - 55 52 58 59 50 46 41 38 17 9 I £ 287 168 406 318 438 1,109 807 1,480 7,374 9,116 9,051 10,677 13,401 14,417 13,782 19,496 16,644 17,528 23,634 26,844 31,186 30,667 24,934 26,248 . 26,626 27,767 24,407 27,479 28,534 27,527 32,112 33,448 30,752 29,078 29,867 32,959 34,337 30,453 36,449 41,658 38,412 32,351 32,947 37.275 38,663 31,428 28,451 33.946 37,045 32,938 29,993 24,464 24,609 24,183 21,135 12,779 5,605 680 90 « •• ■ 64 120 200 230 74 73 198 560 97 448 569 660 175 710 939 706 830 235 679 835 1,255 1,706 1,102 ■ 1,764 1,490 1,358 2,048 1.158 2,535 2,587 2,186 1,775 1,775 2.925 3,137 3,781 3,730 4,897 4,780 4,099 4,156 3,762 3,313 2,692 I 2,035 ! 1.939 843 370 60 £ £ £ 28-7 . . 62 16-8 .. 36 40-6 .. 127 31-8 6-4 80 43-8 .. 67 110-9 .. 373 80-7 . . 276 148-0 .. 509 737-4 . . 2,895 911-6 12-0 3,755 905-1 .. 3,575 1,067-7 20-0 4,756 1,315-0 23-0 6,469 1,419-9 7-4 6,933 1,358-6 7-3 6,766 1,923-0 19-8 10,159 1,641-8 56-0 8.423 1,721-5 9-7 8,828 2,334-4 44-8 13,348 2,594-7 56-9 14,858 2,922-0 64-5 17,748 2,757-9 16-7 16,873 2.220-0 64-9 14,622 2,327-3 84-5 15,338 2,374-0 63-6 15,501 2,377-5 72-0 16,365 1,952-0 18-8 14,719 2,181-4 C 55-0 17,159 2,246-7 66-8 17.800 2,147-3 100-4 18,146 2,404-1 134-4 22,249 2,332-1 78-8 24,017 2,109-1 127-4 22,705 ! 1.976-8 104-3 22,152 2,021-7 95-0 23,509 2,130-4 140-3 26,769 2,052-9 71-2 28,367 1,814-7 152-6 25,694 2,148-1 155-2 32,189 2,447-4 131-2 37,684 2,145-9 103-3 35,500 1, (152-3 (10-6 30,673 1,667-5 1.47-2 32,021 1,865-1 156-8 37,210 1,933-1 1.89-1 40,072 1,571-4 186-5 33,643 1,422-5 244-8 31,608 1,697-3 239-0 39.453 1.852-3 205-0 45,494 1,646-9 207-8 43,553 1,499-6 188-1 43.801 1,223-2 165-7 40,237 1,230-5 134-6 46,463 1,209-2 101-7 53,765 1,056-7 97-0 55,410 639-0 42-1 39,107 280-2 18-5 19,492 34-0 3-0 2,589 4-5 .. 358 £ .14 30 43 44 20 22 73 238 23 119 225 220 54 229 380 297 290 82 255 334 558 898 582 868 736 726 1.153 674 1,583 1,542 1,324 1,132 IJ 34 1,989 . 2,210 2,759 2,862 3.944 4,070 3,743 4,131 4,149 3,981 3,466 2,798 2,825 1,260 551 90 ■ 75 73 71 70 69 68 67 06 65 64 63 62 61 60 59 58 57 50 55 51 53 52 51 50 49 48 17 4(i 45 44 43 42 41 40 39 38 37 36 35 34 33 32 31 30 29 28 27 20 25 24 23 22 2) 20 19 18 17 16 15 906 1,280,459 77.660 88,007-2 ] 4,581-7 Totals. ..J .... !

H.—-26a

TABLE VI. Classification of Pensions granted, showing the Ages at which they were granted.

•2—H. 26a.

9

Attainment of P Length or Service. Pension Age or 3. (See. 35, &c.) Retired medii (Sec. 36, Number. Retired medically unfit. W i?? < Se «- 3fi . * c -» ,See?42 Number. • Amount of | M Pension. a F. Total. J L_2_ .. Widows and Children. (Sees. 42,43,4c) *■ I« I 5 so i -2 B% 1 a o a i * 3 Total, Age at which Pension granted. Number. M. ! F. Total. Amount of Pension. lumber. Amount of Pension. 83 81 80 79 78 77 76 75 74 73 72 71 70 69 68 67 66 65 64 63 62 61 60 59 58 57 56 55 54 53 52 51 50 49 48 47 46 45 44 43 42 41 40 39 38 37 36 35 .. 34 33 32 31 80 29 27 25 24 22 21 19 13 12 11 10 9 8 7 .: 6 5 4 3 2 1 0 1 .. 1 1 .. 1 1 j .. 1 2 .. i 2 3 | .. 3 2 .. 2 1 .. 1 3 ! .. 3 7 .. 7 5 .. 5 5 .. 5 11 ... 11 16 .. 16 23 .. 23 15 3 18 28 .. 28 35 .. 35 71 1 72 16 . . 16 10 1 11 12 .. 12 11 I .. 11 18 2 i 20 11 2 2 1 3 2 2 .. . .. £ x. d. 55 4 8 58 11 8 282 12 8 46 15 2 140 15 6 253 19 2 131 13 2 447 17 4 1,237 3 3 418 8 2 385 6 10 885 18 9 2,105 2 4 ! 2,593 10 0 j 1,546 8 8 I 3,984 10 0 j 4,045 9 6 6,633 14 6 1,601 3 0 1,248 2 11 987 1 0 826 17 6 1,886 8 7 232 5 6 339 11 4 58 2 11 j M. 1 1 • ■ i i\ ■■ I' ' ' " •• i 1 7 2 1. 1 4 6 7 5 5 5 4 3 4 3 2 5 5 2 2 4 £ s. d. 1 445 5 7 •• i ■• i 1 155 0 0 1 I . . . . I ! : . . . . . . -i i i 2 1 50 13 4 | 1 .. 1 98 16 4 1 .. j 7 I 539 0 4 • 2 .. 2 243 12 0 1 1 I 296 4 8 3 1 110 8 3 2 4 373 13 5 6 511 8 6 1 7 716 15 10 4 5 : 413 10 7 1 ■ .. j 5 ! 484 4 8 I. . . 5 : 505 10 2 1 .. 4 310 18 0 2 .. I 3 I 241 8 8 1 .. ! 4 ! 303 18 5 .. I 3 i 236 9 6 1 2 157 17 3 5 406 13 6 .. 5 : 599 1 5 2 2 i 152 6 5 ! .. , 2 ! 98 4 6 2 ■ 4 346 19 11 .. ; 11 1 22 18 8 1 I _ £ 1 18 1 18 •1 18 1 18 2 I 36 1 18 1 18 2 36 1 18 3 54 2 36 1 18 4 72 1 18 I. 18 1 18 2 36 1 18 1 18 M. 1 2 1 2 3 2 1 4 7 5 5 11 16 23 15 29 35 71 17 17 14 12 19 4 7 9 5 5 5 4 3 4 3 2 5 5 2 2 4 F. Total. 1 2 1 2 3 .. 2 1 1 5 7 1 6 1 6 1 ; 12 ..I 16 ..23 5 ' 20 1 '' 30 .. 35 | 1 ' 72 I i is; 3 . 20 1 15 3 I 15 4 ! 23 .. I 4 2 9 5 14 3 8 1 6 1 6 2 6 1 4 4 1 4 2 5 1 2 7 2 2 4 4 2 2 3 3 1 1 2 4 1 6 6 1 2 3 2 2 3 3 2 2 2 5 6 1 2 1 1 1 2 2 1 1 1 1 1 I 1 I 6 6 3 2 2 4 29 -j I 5 4 2 i 3 6 1 1 5 1 1 1 3 1 3 4 2 5 3 1 1 2 1 1 2 £ s. d. 55 4 8 503 17 3 282 12 8 46 15 2 140 15 6 253 19 2 131 13 2 620 17 4 1.237 3 3 436 8 2 403 6 10 903 18 9 2,105 2 4 2,593 10 0 1,582 8 8 4,053 3 4 i 4,045 9 6 ! 6,633 14 6 j 1,717 19 4 1,823 3 3 1,248 13 0 1,177 2 2 2,032 16 10 373 13 5 761 14 0 1,128 7 2 489 13 ti 502 4 8 523 10 2 346 18 0 259 8 8 303 18 5 254 9 6 157 17 3 406 13 6 635 1 5 152 6 5 134 4 6 346 19 11 40 18 8 54 0 0 18 0 0 157 12 4 113 3 0 124 0 0 63 12 10 155 12 7 36 0 0 54 0 0 111 1 8 36 0 0 135 3 1 52 11 2 18 0 0 8 5 0 36 0 0 18 0 0 12 18 0 18 0 0 1.8 0 0 78 0 0 78 0 0 39 0 0 26 0 0 26 0 0 52 0 0 65 0 0 52 0 0 65 0 0 52 0 0 26 0 0 39 0 0 78 0 0 13 0 0 2 36 i 2 36 2 3 I . . j . . . . 3 1 i 18 3 ; 54 1 I 18 1 | 18 5 90 2 3 1 2 ... 2 I . . . . 1 11 3 139 12 4 1 I I 113 3 0 .. ; 1 I , 31 0 0 5 1 ! 63 12 10 .. 1 i 119 12 7 2 .. ! .. 2 2 6 1 1 2 36 2 36 3 , 54 2 2 3 :: :: :: i ' 2 . . I . . O , 2 I 111 1 8 . . j 2 5 1 1 • ■ 1 1 2 1 1 45 3 1 5 j 1 34 II 2 1 ! 1 I 2 | 36 .5 90 1 ! 18 1 ! 18 i 1 I 1 8 5 0 .. ! 2 1 o I :: :: :: \ H 12 18 0 .. 2 \ '36 1 ! 18 i 1 1 I •• > . . ; .. i : .. i .. 1 6 i o ] A i 6 .... .. 3 ■■ i •■ •• : ? .... .. 2 .. .., .. , 5 1 18 1 i 18 6 \ 78 6 : 78 3 ' 39 2 26 2 26 4 52 5 65 4 52 5 65 4 52 2 26 3 39 6 78 1 13 117 1,841 1 -24 29 4 . . . . t 5 0 A .. | .. .. 4 •> 2 3 . . . . o ..]'.'. .. 6 l .. j .. .. 1 I i 92 3 95 ! 8,502 19 7 ; 117 416 107 42,776 13 S Totals 300 11 •311 | 32,432 14 1 .23 I i '

8.—26 a.

TABLE VII. EXPERIENCE TABLE. Rates per Cent, per Annum of Withdrawal, Mortality, Retirement, and Increase of Salary.

10

Contributin ig Members : tales. Contributing Members : 'emales. Age. Bate of Withdrawal (Public Service Superannuation Fund). Bate of Mortality (Healthy English). Hate of I Bate 0f Betement ■«»' (Public Ser- (Pu S £ y Ser . vice Super- << UD "° Bel " annuation ™^XT . annuation Fund). Fund) _ Bate of Withdrawal (Public Service Superannuation Fund). Rate of Kate of Betirement Mortality (Public Ser(Healthy vice SuperEnglish), annuation Fund). Bate of Increase of Salary (Public Service Superannuation Fund). 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 j " " 6-8 6-5 6-2 6-0 5-8 5-6 5-4 5-2 5-0 4-8 4-7 4-6 4-5 4-4 4-3 4-2 4-1 4-0 3-9 3-8 3-7 3-6 3-5 3-4 3-3 3-2 3-2 3-2 3-2 31 3-0 2-9 2-8 2-7 2-6 2-5 2-4 2-2 20 1-8 1-5 1-3 1-1 0-8 0-4 0-43 0-47 0-53 0-58 0-64 0-70 0-71 0-73 0-75 0-76 0-78 0-78 0-79 0-80 0-81 0-82 0-83 0-84 0-85 0-85 0-87 0-88 0-89 0-90 0-92 0-94 0-96 0-99 1-01 1-04 1-08 111 1-15 1-20 1-25 1-30 1-36 1-43 1-50 1-57 1-66 1-74 1-84 1-94 2-14 2-37 2-61 2-85 3-11 3-39 0-1 0-1 0-1 0-1 0-1 0-1 0-1 0-1 0-2 0-2 0-2 0-2 0-2 0-2 0-2 0-2 0-2 0-3 0-4 0-5 0-5 0-5 0-5 0-5 0-5 0-5 0-6 0-6 0-9 1-5 1-8 2-4 3-4 5-1 8-1 13-5 21-5 30-9 j 4-9 9-6 13-6 16-8 17-7 17-7 15-0 12-7 10-4 7-7 5-4 4-6 3-7 3-1 2-7 2-4 2-3 1-9 2-0 2-0 2-1 2-1 2-0 2-2 2-2 2-2 2-3 2-3 2-2 2-5 2-5 2-3 2-3 1-4 1-1 0-7 0-5 0-1 - 0-6 1-9 3-9 6-4 9-5 11-5 13-6 14-7 15-3 15-5 15-4 150 14-0 131 12-1 11-2 10-2 9-5 9-0 8-4 7-8 7-5 7-2 6-8 6-2 5-6 4-4 3-3 2-4 1-9 1-3 0-60 0-65 0-70 0-74 0-77 0-78 0-80 0-82 0-83 0-84 0-85 0-86 0-1 0-88 0-1 0-89 0-1 0-89 0-1 0-90 0-1 0-92 0-1 0-92 0-1 0-93 0-1 0-94 0-2 0-95 0-2 0-97 0-2 0-98 0-2 0-99 0-2 1-00 0-2 1-02 0-2 1-03 0-2 1-05 0-2 1-07 0-3 1-09 0-4 1-11 0-5 1-14 0-5 1-16 0-5 1-19 0-7 1-22 1-0 1-25 1-5 1-29 2-0 1-33 2-6 1-37 3-6 1-41 6-0 1-46 10-0 1-62 16-2 1-82 24-0 2-03 37-4 0-6 1-8 5-5 6-9 7-5 8-1 9-7 8-4 6-3 5-1 3-9 3-4 3-2 2-3 2-0 1-7 1-5 1-3 0-9 0-9 0-7 0-6 0-4 0-4 0-3 0-2 0-2 0-1 ■• i ! ':: | 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

H.—26a.

TABLE VIII. LIFE AND SERVICE TABLE. Based upon the Rates per Cent, per Annum of Withdrawal, Mortality, and Retirement given in Table VII.

11

ma: ,BS. FEMALES. Age. Existing in Service. Withdrawals. Deaths. Retire- Average ments. Salary. Existing in WithService. drawals. Deaths. Eetire- Average . ments. Salary. Age - 15 .. 16 .. 17 .. 18 .. 19 .. 20 .. 21 .. 22 .. 23 .. 24 .. 25 .. 20 .. 27 .. 28 .. 29 .. 30 .. 3J .. 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 .. 65 .. 100,000 92,770 86,304 80,496 75,199 70,356 65,923 61,896 58,225 54,877 51,826 48,986 46,351 43,853 41,528 39,364 37,348 35,470 33,718 32,083 30,559 29,101 27,739 26,465 25,274 24,157 23; 109 22,101 21,131 20,199 19,302 18,438 17,606 16,822 16,082 15,383 14,721 14,094 1.3,512 12,958 12,444 11,938 11,396 10,856 10,297 9,686 8,963 8,003 6,694 5,047 3,316 6,800 6,030 5.351 4,830 4,362 3,940 3,559 3,220 2,911 2,634 2,436 2,253 • 2,086 1,930 1,786 1,654 1,531 1,419 1,314 1,219 1,131 1,048 971 900 834 773 740 707 676 626 579 535 493 454 418 385 353 310 270 233 187 155 125 87 41 430 436 457 467 481 493 468 451 437 417 404 382 366 351 336 323 310 298 287 273 266 256 247 238 232 227 222 219 214 210 208 205 203 202 201 200 200 202 203 203 207 208 210 211 220 229 234 228 208 171 46 44 42 39 37 35 34 32 61 58 56 53 51 48 46 44 42 61 77 92 88 84 80 77 74 70 81 78 112 179 205 261 350 494 726 1,081 1,439 1,560 3,316 42-9 45-0 49-3 56-0 65-4 77-0 90-6 104-2 117-4 129-6 139-6 147-2 153-9 159-6 164-6 169-0 173-0 177-0 180-4 184-0 1.87-6 191-6 195-6 199-6 204-0 208-4 213-0 218-0 223-0 228-0 233-6 239-4 244-8 250-4 254-0 256-8 258-6 259-8 260-0 260-0 260-0 260-0 260-0 ■ 260-0 260-0 260-0 260-9 260-0 260-0 260-0 260-0 99-449 98,256 95,750 91,346 84,824 76,113 66,767 57,152 48,281 40,494 33,877 28,372 23,844 20,272 1.7,416 15,136 1.3,289 11,798 10,557 9,498 8,592 7,823 7,145 6,546 6,023 5,578 5,197 4,904 4,681 4,505 4,352 4,225 4,156 4,087 4,010 3,921 3,813 3,688 3,543 3,367 3,117 2,760 2,268 1,683 1,019 598 1,869 3,737 5,848 8,059 8,750 9,081 8,403 7,387 6,276 5,217 4,255 3,339 2,656 2,107 1,695 1,356 1,120 950 798 670 587 515 445 373 313 229 162 112 86 57 595 637 667 674 652 596 534 468 400 341 288 245 209 180 156 137 ]22 109 98 89 82 75 70 65 60 57 54 51 50 49 48 48 48 48 49 49 49 49 48 48 45 45 41 34 28 24 20 17 15 13 12 11 19 17 16 14 13 12 11 10 10 14 18 22 21 21 29 40 59 76 96 128 202 312 447 544 630 1,019 50-0 50-0 50-3 51-2 54-0 57-7 62-0 67-0 73-5 79-7 84-7 89-0 92-5 95-6 98-7 101-0 103-0 104-7 106-3 107-7 108-7 109-7 110-5 111-2 111-7 112-2 112-5 112-7 112-9 113-0 113-0 113-0 113-0 113-0 1130 113-0 113-0 113-0 113-0 113-0 113-0 113-0 113-0 113-0 1130 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 40 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65

H.— 26a

TABLE IX. CONTRIBUTIONS PER CENT. OF SALARY Payable under the Scheme, together with those necessary to produce the various Benefits of the Fund for Future Service.

12

MALES. FEMALES. Age at Date of joining Fund. For F Contribu- Pension for „..„,=.,. t „ For tionper Old Age, wMn™ Penskm Cent. Length of \ * ; °" s : to Children i payable j Service, : widow- : . und f. by Act. : or ™ ld ° d w ; Age 14. Ill Health, i nooa ' II i 1 i For Return of Contribu-i tions on Withdrawal.! or on Death if unmarried. Total Contribution necessary. For For Pension for Beturn of Old Age, Contribu- | Total Length of tions on | Contribution Service, Death ! necessary, or or III Health, withdrawal.! I Age at Date of .joining Fund. 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 H 42 43 44 45 46 47 48 49 50 51 52 53 54 55 oo 57 58 59 60 61 62 63 64 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 6 6 6 6 (i 7 7 7 7 7 8 8 8 8 8 9 9 9 9 9 10 10 10 10 10 10 10 10 10 10 10 10 10 10 10 2-844 ! 0-682 2-921 0-707 2-998 0-733 3-079 0-762 3-169 0-793 3-27] 0-829 3-389 0-871 3-524 0-919 3-673 ' 0-972 3-833 1-028 4-001 1 -087 4-150 1-146 4-307 1-204 4-471 1-258 4-643 1-310 4-820 1-360 5-003 1-408 5-190 : 1-455 5-380 ; 1-501 5-573 1-547 5-770 1-593 5-969 1-636 6-174 1-681 6-384 1-730 6-599 1-782 6-820 I -840 7-048 1-903 7-284 1-973 7-527 2-051 7-778 2-139 8-038 2-236 8-311 2-342 8-600 2-461 8-908 2-598 9-236 2-756 9-578 ' 2-939 9-931 3-152 10-294 3-401 10-658 3-695 11-022 4-042 11-380 4-467 11-731 4-982 12-075 5-611 12-411 6-427 12-738 7-523 13-054 9-032 13-365 11-233 13-680 14-708 14-014 20-941 14-405 ! 37-131 0-256 0-266 0-276 0-286 0-298 0-312 0-327 0-346 0-366 0-388 0-411 0-434 0-456 0-475 0-492 0-506 0-51.6 0-523 0-526 0-526 0-523 0-515 0-505 0-493 0-479 0-466 0-45] 0-437 0-424 0-411 0-399 0-388 0-377 0-368 0-360 0-354 0-350 0-348 0-347 0-346 0-348 0-348 0-350 0-358 0-375 0-402 0-449 0-527 0-664 1-005 1-867 1-834 1-805 1-770 1-748 1-719 1 -688 1-653 1-615 I -574 1-530 1-484 1-437 1-389 1-341 1-552 1 -494 1-437 1-379 1-322 1-476 1-410 1-344 1-277 1-210 1-306 1-228 1-150 1-071 0-992 I -027 0-940 0-853 0-767 0-682 0-666 0-578 0-495 0-419 0-350 0-289 0-236 0-191 0-155 0-129 0-111 0-096 0-079 0-059 0-036 5-649 5-728 5-812 5-903 6-008 613] 6-275 6-442 6-626 6-823 7-029 7-214 7-404 7-593 7-786 8-238 8-421 8-005 8-786 8-968 9-362 9-530 9-704 9-884 10-070 10-432 10-630 10-844 11-073 1 ] -320 11-700 11-981 12-291 12-641 13-034 13-537 14-011 14-538 i 15-119 15-760 16-484 17-297 11 18 ; 227 19-351 20-765 22-599 25-143 28-994 35-678 52-677 1-434 1-572 1-728 1-903 2-102 2-319 2-569 2-855 3-180 3-547 3-952 4-385 4-841 5-315 5-805 6-310 6-824 7-348 7-879 8-416 8-955 9-495 10-030 10-554 11-060 11-543 11-999 12-424 12-825 13-207 13-570 13-918 .14-259 14-601 14-943 15-283 J 5-621 15-955 16-284 16-600 16-900 17-192 17-500 17-859 3-373 3-355 3-323 3-270 3-219 3-147 3-060 2-959 2-849 ! 2-725 2-587 ' 2-442 : 2-293 2-144 2-397 2-223 2-051 i-884 ; 1-720 1-821 1-642 1-472 1-310 1-162 1-175 1-043 ! 0-933 ; 0-843 0-771 0-801 0-747 0-704 0-666 0-626 0-651 0-604 0-555 li-.-,(),-, 0-453 ; 0-400 0-344 0-284 0-214 0-128 ! 4-807 4-927 5-051 5-179 5-321 5-466 5-629 5-814 6-029 6-272 6-539 6-827 7-134 7-459 8-202 8-533 8-875 9-232 9-599 10-237 10-597 10-967 11-340 11-716 12-235 12-586 12-932 13-267 13-596 14-008 14-317 14-622 14-925 15-227 15-594 15-887 16-176 16-460 16-737 17-000 17-244 17-476 17-714 17-987 15 16 17 18 19 20 21 92 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 13 11 45 46 47 f8 49 50 5] 52 53 54 55 56 57 58 59 (iO 6] 62 63 64 I

H.—26a.

TABLE X. Pensions in Force (Sections 35 and 36), excluding Police Pensions transferred. (1) Purchased by contribution. (2) Payable out of subsidy.

13

Number Age at Retirement. retired on" Pension. Total Contributions paid. (1) ~~ (2) Annual Pensions. Pensions purchased Pensions payable by Contribution. out of Subsidy. Age at Betiremeut. _J 1 £ s. .1. 29 15 0 6 3 4 25 19 9 34 18 3 82 12 2 64 3 4 76 18 7 216 3 7 70 10 5 76 5 9 254 17 1 669 1 10 471 5 8 404 8 11 798 18 10 1,032 7 5 1,600 1 7 371 0 1 50!) 12 8 249 16 3 414 12 6 569 11 (i 8 0 0 128 15 3 222 11 8 57 4 6 74 4 10 77 0 11 13 7 2 6 8 5 24 5 1 113 16 3 26 19 1 19 9 5 34 18 8 27 3 8 48 8 0 5 17 6 1113 4 2 0 9 Hi I] 3 10 13 6 Males. 83 .. .. j 1 81 .. .. i 1 79 .. .. | 2 78 .. .. 3 77 .. .. 2 76 .. .. 1 75 .. .. 4 74 .. .. 6 73 .. .. i 3 72 .. ..I 5 71 . . ' ■■ ' 7 70 .. .. 16 69 .. .. 20 68 .. .. 13 67 .. .. 26 66 .. .. 34 65 .. .. i 49 64 .. .. 10 63 .. .. 13 62 .. .. 9 61 .. .. i 11 60 .. .. 15 59 .. .. ! 1 58 .. .. : 4 57 . . .. 5 56 .. .. 2 54 .. . . 2 53 .. .. 3 52 .. .. 1 50 .. . . I 48 .. .. 1 47 .. .. 3 46 .. .. I 45 .. .. I 44 .. .. I 40 .. .. I 39 .. .. I 37 .. .. 1 36 .. .. I 33 .. .. I 27 .. .. I 22 .. . . | I £ s. d. £ s. il. £ s. d. 55 4 8 7 113 47 13 5 58 11 8 18 3 57 3 5 46 15 2 5 7 7 41 7 7 140 15 6 6 17 (i 133 18 0 253 19 2 15 9 8 238 9 6 131 13 2 11 9 2 120 4 0 602 17 4 13 2 0 589 15 4 997 3 3 35 2 8 962 0 7 309 9 5 12 6 II 297 2 6 385 6 10 11 6 Ii 374 0 4 676 12 3 36 4 4 640 7 11 2,105 2 4 91 2 2 2,014 0 2 2.348 9 4 61 11 2 2,286 18 2 1,318 19 10 50 14 8 1,268 5 2 3,883 17 2 96 6 9 3,787 10 5 3,968 16 2 119 16 5 3,848 19 9 4,289 1 10 178 18 5 4,110 3 5 913 7 10 40 0 3 873 7 7 1.349 4 11 53 I 4 1,296 3 7 706 5 4 25 2 8 681 2 8 826 17 6 40 7 0 786 10 6 1,577 10 4 53 13 1 1,523 1.7 3 90 13 4 0 14 7 89 18 9 488 4 6 11 7 10 476 16 8 640 (i 0 19 2 4 621 3 8 116 1 1 4 15 7 . Ill 5 6 248 3 8 5 17 9 242 5 11 236 19 9 5 19 4 231 0 5 83 11 5 10 3 82 11 2 74 16 2 0 9 4 74 6 10 109 4 0 1 13 10 107 10 2 278 19 9 7 15 10 271 3 11 103 4 0 1 16 3 101 7 9 49 2 0 I 5 9 47 16 3 124 10 0 2 5 6 122 4 6 75 11 0 I 13 5 73 17 7 113 3 0 2 ]8 9 110 4 3 63 12 10 0 7 0 63 5 JO 119 12 7 0 13 8 118 18 11 55 8 3 0 2 4 55 5 11 8 5 0 0 18 0 7 7 0 12 18 0 0 11 2 12 6 10 83 81 79 78 77 76 75 74 73 72 71 70 69 68 67 66 65 64 63 62 61 60 59 58 57 56 54 53 52 | 50 48 47 46 45 44 40 39 37 36 33 27 j 22 Total males 284 8,967 13 9 30,038 7 4 1,038 8 3 I I 28,999 19 1 68 65 63 60 58 57 56 43 40 38 3 1 1 2 1 1 2 1 1 1 16 9 0 12 8 0 7 16 4 22 17 8 II 17 7 7 0 0 22 3 » 2 15 11 0 1 6 0 14 0 Females. OS 05 63 oo 58 57 56 13 40 38 120 3 5 10 1] 2 5 17 0 29 13 9 20 1 0 18 13 4 58 2 11 22 18 8 28 3 4 34 0 0 I 19 8 1 6 9 0 15 9 2 I 10 1 0 5 0 II 8 1 16 0 0 3 6 0 0 1 0 0 10 11.8 3 9 9 4 5 6 1 3 27 11 11 19 0 7 18 1 8 56 6 1] 22 15 2 28 3 3 33 19 2 Total females 11 104 3 8 348 4 7 9 16 6 338 8 1 I

H.—26a

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TABLE XI. Valuation Balance-sheet of the Public Service Superannuation Fund as at 31st December, 1910. Liabilities. Males— £ £ Value of 366 pensions for £37,904 7s. 4d. per annum already granted .. .. 316,793 „ 60 pensions for £1,080 granted to widows of contributors or pensioners . . 13,734 ~ 47 pensions for £611 per annum granted to the children of deceased contributors or pensioners .. .. .. . . .. . . 3,015 „ prospective pensions for back service .. .. .. .. .. 1,168,808 ~ ~ for future service .. .. .. .. . . 759,177 to widows . . . . .. .. .. 300,253 to children . . .. .. .. .. 63,877 ~ return of contributions on death .. .. .. .. .. 24,129 „ „ on withdrawal . . . . . . . . . . 217,488 2,867,274 Females— Value of 14 pensions for £348 4s. 7d. per annum already granted to female contributors.. 3,830 ~ prospective pensions for back service . . .. .. . . .. 30,977 ~ ~ for future service . . .. .. .. .. 39,739 „ return of contributions on death or withdrawal .. .. .. .. 17,290 91,842 £2,959,116 Assets. Accumulated funds .. .. .. .. .. .. .. .. .. .. 263,948 Value of future contributions from males .. .. .. .. .. .. .. 928,117 females .. .. .. . . .. .. .. 34,943 subsidy of £23,000 per annum ~ .. .. . . . . . . .. .. 575,000 „ increases in subsidy of £25,000 per annum now recommended .. .. . . . . 625,000 ~ future inoreases in subsidy to bo provided .. .. .. .. .. .. 532,108 '~£2,959,116

Authority : John Mackay, Government Printer. Wellington.—l9l2.