π’ Government Railways Superannuation Fund Board
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The establishment date of the Government Railways Superannuation Fund Board is based on the commencement date of the Government Railways Superannuation Fund Act 1902, 1 January 1903. The Board’s disestablishment date is based on the commencement date of the Superannuation Act 1947, 1 April 1948.
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New Zealand Legal Information Institute, http://www.nzlii.org/ (accessed 31 May 2013).
-
New Zealand Gazette 1903, Government Printer, Wellington, 1903.
-
Government Railways Superannuation Fund, D.5, Appendix to the Journals of the House of Representatives 1903, Volume II, Government Printer, Wellington, 1903.
-
Government Railways Superannuation Fund: Report of the Board, D.5, Appendix to the Journals of the House of Representatives 1904, Volume II, Government Printer, Wellington, 1904.
-
Atkinson, Neil, Rewarding Service - A History of the Government Superannuation Fund, University of Otago Press in association with the Ministry of Culture and Heritage, 2002.
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Establishment
The Government Railways Superannuation Fund Board was established on 1 January 1903 under section 11(1) of the Government Railways Superannuation Fund Act 1902. It was formed to administer the Government Railways Superannuation Fund (GRSF), which was created under section 3 of the Act.
All persons who were on the permanent staff of the New Zealand Government Railways Department prior to 1 January 1903 were given the option of joining the Fund within 6 months (30 June) of the commencement of the Act.
The first elected Board members were:
- George Brownlee, Representative of the First Division, North Island;
- Andrew Graham, Representative of the First Division, South Island;
- Thomas Wilson, Representative of the Second Division;
- William Pepper, Representative of the Second Division; and
- Matthias Thomas, Representative of the Second Division.1
The inaugural meeting of the Board was held in Wellington on 24 April 1903.2
Functions and Responsibilities
The primary function of the Government Railways Superannuation Fund Board was to administer the Government Railways Superannuation Fund. This involved the collection of members’ contributions, oversight of the investment of the Fund, and the assessment and payment of benefits and entitlements.
Government Railways Superannuation Fund
The Government Railways Superannuation Fund consisted of:
- the moneys in the Railways Servants’ Fund (this fund was set up under section 12(5) of the Government Railways Act 1900, and abolished pursuant to section 9(1) of the Government Railways Superannuation Fund Act 1902, with moneys accumulated transferred to the GRSF);
- all fines, penalties and other moneys that were directed to be paid into the GRSF under the Government Railways Acts of 1900, 1908 and 1926;
- contributions from members employed by the New Zealand Government Railways Department;
- interest that accrued from investment of the GRSF.
All deductions were paid by the New Zealand Government Railways Department to the Public Trustee to the credit of the Government Railways Superannuation Fund Account.
Contributions
Member’s contributions to the Government Railways Superannuation Fund were set under section 7 of the Government Railways Superannuation Fund Act 1902, section 12(1) of the Public Service Superannuation Act 1907, section 74(1) of the Government Railways Act 1908, and sections 96(1) and (2) of the Government Railways Act 1926.
In the case of a contributor who joined the scheme before 1 January 1908 the following rate of percentage of the members pay applied:
- 3% if the member did not exceed thirty years of age when the first contribution was payable;
- 4% if the member’s age exceeded thirty years but did not exceed thirty-five years;
- 5% if the member’s age exceeded thirty-five years but did not exceed forty years;
- 6% if the member’s age exceeded forty years but did not exceed forty-five years;
- 7% if the member’s age exceeded forty-five years but did not exceed fifty years; and
- 10% if the member’s age exceeded fifty years.
In the case of a contributor who joined the scheme after 1 January 1908 the following rate of percentage of the members pay applied:
- 5% if the member did not exceed thirty years of age when the first contribution was payable;
- 6% if the member’s age exceeded thirty years but did not exceed thirty-five years;
- 7% if the member’s age exceeded thirty-five years but did not exceed forty years;
- 8% if the member’s age exceeded forty years but did not exceed forty-five years;
- 9% if the member’s age exceeded forty-five years but did not exceed fifty years; and
- 10% if the member’s age exceeded fifty years.
Benefits
The following benefits and entitlements were available from the GRSF:
- Allowances for contributors retiring from the Department on account of age;
- Payments for contributors retiring from the Department on being declared medically unfit for duty (refund of contributions paid into the fund excluding interest and any sums received from the GRSF);
- Payments for contributors retiring voluntarily from the Department, or dismissed by the Department for misconduct (refund of contributions paid into the fund excluding interest and any sums received from the GRSF);
- Allowances for widows and children of contributors who died before retirement.
Special provisions were made for contributors formerly employed by the Wellington-Manawatu Railway Company Limited (purchased by the Government in 1908), and for those contributors who retired for the purpose of undertaking military service in World War I. Provision was also made for contributors who were employed in the New Zealand Midland Railway Company (taken over by the Government in 1895).
Structure
On establishment, the Government Railways Superannuation Board consisted of:
- The Minister of Railways;
- The Solicitor-General;
- The Public Trustee;
- The General Manager of the New Zealand Government Railways Department (Chairman of the Government Railways Board;
- Two persons elected from among their number by the contributors who were members of the First Division (General Management, Branch Management, and other Salaried Staff) of the New Zealand Government Railways Department, one representing the North Island and the other the South Island:
- Three persons elected from among their number by the contributors who were members of the Second Division (Non-Salaried Staff) of the New Zealand Government Railways Department.
Rules for the election of contributor members were set out under regulations that governed the Board’s activities.
A Secretary was appointed by the Board to provide administrative assistance. Assistance was also provided to the Board by the New Zealand Government Railways Department.
Disestablishment
The Government Railways Superannuation Fund Board was abolished on 1 April 1948 under section 3(8) of the Superannuation Act 1947, and the Government Railways Superannuation Fund was also abolished under section 10(2) of the Act. All moneys standing to the credit of the Fund were transferred to the Government Superannuation Fund (GSF).
The Public Service Superannuation Board and the Teachers’ Superannuation Board and their associated funds were also abolished under the Act, the money from the funds also transferring to the GSF. Administration of the GSF was the responsibility of the Government Superannuation Board, which was established on 1 April 1948.
Footnotes:
- p.861, New Zealand Gazette, 26 March 1902, No.22.
- p.1, Government Railways Superannuation Fund Board Minute Book (No.1).
Show History
Establishment
The Government Railways Superannuation Fund Board was established on 1 January 1903 under section 11(1) of the Government Railways Superannuation Fund Act 1902. It was formed to administer the Government Railways Superannuation Fund (GRSF), which was created under section 3 of the Act.
All persons who were on the permanent staff of the New Zealand Government Railways Department prior to 1 January 1903 were given the option of joining the Fund within 6 months (30 June) of the commencement of the Act.
The first elected Board members were:
- George Brownlee, Representative of the First Division, North Island;
- Andrew Graham, Representative of the First Division, South Island;
- Thomas Wilson, Representative of the Second Division;
- William Pepper, Representative of the Second Division; and
- Matthias Thomas, Representative of the Second Division.1
The inaugural meeting of the Board was held in Wellington on 24 April 1903.2
Functions and Responsibilities
The primary function of the Government Railways Superannuation Fund Board was to administer the Government Railways Superannuation Fund. This involved the collection of members’ contributions, oversight of the investment of the Fund, and the assessment and payment of benefits and entitlements.
Government Railways Superannuation Fund
The Government Railways Superannuation Fund consisted of:
- the moneys in the Railways Servants’ Fund (this fund was set up under section 12(5) of the Government Railways Act 1900, and abolished pursuant to section 9(1) of the Government Railways Superannuation Fund Act 1902, with moneys accumulated transferred to the GRSF);
- all fines, penalties and other moneys that were directed to be paid into the GRSF under the Government Railways Acts of 1900, 1908 and 1926;
- contributions from members employed by the New Zealand Government Railways Department;
- interest that accrued from investment of the GRSF.
All deductions were paid by the New Zealand Government Railways Department to the Public Trustee to the credit of the Government Railways Superannuation Fund Account.
Contributions
Member’s contributions to the Government Railways Superannuation Fund were set under section 7 of the Government Railways Superannuation Fund Act 1902, section 12(1) of the Public Service Superannuation Act 1907, section 74(1) of the Government Railways Act 1908, and sections 96(1) and (2) of the Government Railways Act 1926.
In the case of a contributor who joined the scheme before 1 January 1908 the following rate of percentage of the members pay applied:
- 3% if the member did not exceed thirty years of age when the first contribution was payable;
- 4% if the member’s age exceeded thirty years but did not exceed thirty-five years;
- 5% if the member’s age exceeded thirty-five years but did not exceed forty years;
- 6% if the member’s age exceeded forty years but did not exceed forty-five years;
- 7% if the member’s age exceeded forty-five years but did not exceed fifty years; and
- 10% if the member’s age exceeded fifty years.
In the case of a contributor who joined the scheme after 1 January 1908 the following rate of percentage of the members pay applied:
- 5% if the member did not exceed thirty years of age when the first contribution was payable;
- 6% if the member’s age exceeded thirty years but did not exceed thirty-five years;
- 7% if the member’s age exceeded thirty-five years but did not exceed forty years;
- 8% if the member’s age exceeded forty years but did not exceed forty-five years;
- 9% if the member’s age exceeded forty-five years but did not exceed fifty years; and
- 10% if the member’s age exceeded fifty years.
Benefits
The following benefits and entitlements were available from the GRSF:
- Allowances for contributors retiring from the Department on account of age;
- Payments for contributors retiring from the Department on being declared medically unfit for duty (refund of contributions paid into the fund excluding interest and any sums received from the GRSF);
- Payments for contributors retiring voluntarily from the Department, or dismissed by the Department for misconduct (refund of contributions paid into the fund excluding interest and any sums received from the GRSF);
- Allowances for widows and children of contributors who died before retirement.
Special provisions were made for contributors formerly employed by the Wellington-Manawatu Railway Company Limited (purchased by the Government in 1908), and for those contributors who retired for the purpose of undertaking military service in World War I. Provision was also made for contributors who were employed in the New Zealand Midland Railway Company (taken over by the Government in 1895).
Structure
On establishment, the Government Railways Superannuation Board consisted of:
- The Minister of Railways;
- The Solicitor-General;
- The Public Trustee;
- The General Manager of the New Zealand Government Railways Department (Chairman of the Government Railways Board;
- Two persons elected from among their number by the contributors who were members of the First Division (General Management, Branch Management, and other Salaried Staff) of the New Zealand Government Railways Department, one representing the North Island and the other the South Island:
- Three persons elected from among their number by the contributors who were members of the Second Division (Non-Salaried Staff) of the New Zealand Government Railways Department.
Rules for the election of contributor members were set out under regulations that governed the Board’s activities.
A Secretary was appointed by the Board to provide administrative assistance. Assistance was also provided to the Board by the New Zealand Government Railways Department.
Disestablishment
The Government Railways Superannuation Fund Board was abolished on 1 April 1948 under section 3(8) of the Superannuation Act 1947, and the Government Railways Superannuation Fund was also abolished under section 10(2) of the Act. All moneys standing to the credit of the Fund were transferred to the Government Superannuation Fund (GSF).
The Public Service Superannuation Board and the Teachers’ Superannuation Board and their associated funds were also abolished under the Act, the money from the funds also transferring to the GSF. Administration of the GSF was the responsibility of the Government Superannuation Board, which was established on 1 April 1948.
Footnotes:
- p.861, New Zealand Gazette, 26 March 1902, No.22.
- p.1, Government Railways Superannuation Fund Board Minute Book (No.1).
The establishment date of the Government Railways Superannuation Fund Board is based on the commencement date of the Government Railways Superannuation Fund Act 1902, 1 January 1903. The Board’s disestablishment date is based on the commencement date of the Superannuation Act 1947, 1 April 1948.
- New Zealand Legal Information Institute, http://www.nzlii.org/ (accessed 31 May 2013).
- New Zealand Gazette 1903, Government Printer, Wellington, 1903.
- Government Railways Superannuation Fund, D.5, Appendix to the Journals of the House of Representatives 1903, Volume II, Government Printer, Wellington, 1903.
- Government Railways Superannuation Fund: Report of the Board, D.5, Appendix to the Journals of the House of Representatives 1904, Volume II, Government Printer, Wellington, 1904.
- Atkinson, Neil, Rewarding Service - A History of the Government Superannuation Fund, University of Otago Press in association with the Ministry of Culture and Heritage, 2002.
- Government Railways Superannuation Fund Contributions Act 1903
- War Legislation Amendment Act 1916
- Public Service Superannuation Act 1907
- Government Railways Act 1908
- Wellington and Manawatu Railway Purchase Act 1908
- Government Railways Amendment Act 1911
- Government Railways Department Classification Act 1901
- Government Railways Act 1900
- Finance Act 1925
- Government Railways Act 1926
- π’ Government Superannuation Board (1948 ‑ )
- π DA556
- πΌ Superannuation (Government employees) (1858 ‑ )
- π Railways (1895 ‑ 1996)
- π Realm of New Zealand (1947 ‑ 1948)
- π Dominion of New Zealand (1907 ‑ 1947)
- π Self-Governing Colony of New Zealand (1903 ‑ 1907)