NRS-2636 | Letters received concerning the establishment of a staff superannuation fund

These volumes contain a memorial from teachers and officers in the employ of the Council and letters received by the Secretary regarding the establishment of a superannuation fund for Council employees. Included are printed returns completed by all officers supplying information necessary for a general scheme to be drawn up. Each form supplies the following information: name of teacher, place of employment, date of birth, length of service, present salary, marital status, and details of each officer's present and general state of health. The Council instructed an actuary to draw up a Superannuation Scheme, and letters and reports were received from the actuary concerning information required for a scheme to be drawn up, and the management and investment policy of the proposed fund. Upon tabulation of returns from officers, a report was submitted containing tables of approximate average contributions required from officers in different age ranges. The premiums required for the establishment of the scheme proved too high, the Council had no available funds to reduce them, and plans for the establishment of a fund were shelved. The Council did, however, establish a Teachers' Mutual Insurance Association (on a purely voluntary basis) in 1869. (1/801-802 part). 2 vols (part). Note:This description is extracted from Concise Guide to the State Archives of New South Wales, 3rd Edition 2000.