§ 62. Mr. CURRIEasked the Chancellor of the Exchequer whether the accumulated funds of the sundry railway superannuation funds are now under supervision of the Government along with the railways themselves; whether these funds include about £8,000,000 sterling invested with the Government on public security returning about 5¼ per cent. per annum interest; whether the rate of interest allowed to the contributory parties is about 4 per cent. per annum; and whether he will render the whole or part of the margin of 1¼ per cent. per annum available for the pension purposes for which it was subscribed?
Sir A. STANLEYI have been asked by my right hon. Friend to reply to this question. The administration of railway superannuation funds is not affected by the present control of the railways and I have no knowledge of the manner in which these funds are invested. Any alteration in the rates of pension can only be made in accordance with the rules of the particular fund concerned.