§ MR. SLOANI beg to ask the Secretary to the Treasury if he will explain why the pension benefits of national school teachers have been reduced, seeing that the capital fund has been growing at the rate of £40,000 per annum.
§ MR. VICTOR CAVENDISHThe administration of the pension fund is regulated, not by a comparison of the receipts and expenditure of the present time, but by the total prospective liabilities as compared with the total prospective assets; and the changes embodied in the Irish Teachers Pension Rules, 1897, were governed by this consideration.