§ Mr. ORDE-POWLETTasked the President of the Board of Education whether lie will state what is the financial condi- 770W tion of the elementary school teachers superannuation fund; and whether it would be possible to increase the amount of pension made on retirement, seeing that the larger proportion is contributed by the teachers themselves?
§ Mr. RUNCIMANThe hon. Member appears to be under some misapprehension as to the facts. Each teacher who has accepted the Elementary School Teachers (Superannuation) Act, 1898, is entitled on retirement to the annuity purchasable by his contributions, and, if he has satisfied the prescribed conditions, is eligible for the award of a superannuation allowance. The superannuation allowance is paid by the State out of funds voted annually by Parliament; the annuities are paid out of the Deferred Annuity Fund, to which all certificated teachers contribute during their period of recorded service. The amount of superannuation allowance is prescribed by the Statute; the amount of the annuities is regulated by tables constructed by the Treasury in pursuance of the Statute. An increase of the former would require legislation which I am not prepared to undertake, for the present at any rate. An increase of the latter would involve an alteration of the tables by the Treasury, which, in view of the recent Actuarial Report, does not appear to be warranted by the present state of the fund. Of the total allowances of teachers retiring at the present time about 90 per cent, is paid by the State. For an account of the finances of the Deferred Annuity Fund the hon. Member cannot do better than study the Report to which I have just referred.