s= PROVINCE OF BRITISH COLUMBIA FIRST REPORT OF THE BUSINESS DONE IN PURSUANCE OF THE Teachees' Pensions Act FOR THE YEAR ENDED MARCH 31ST 1930 TRINTED BY AUTHORITY OF THE LEGISLATIVE ASSEMBLY. VICTORIA, B.C. : Printed by Charles F. Banfield, Printer to the King's Most Excellent Majesty. 1931. ■49 To His Honour Robert Randolph Bruce, Lieutenant-Governor of the Province of British, Columbia. May it please Your Honour: The undersigned respectfully submits the Report of the business done in pursuance of the " Teachers' Pensions Act " during the fiscal year 1929-30. S. L. HOWE, Provincial Secretary. Provincial Secretary's Office, Victoria, B.C. The Honourable S. L. Howe, Provincial Secretary, Victoria, B.C. Sir,—I have the honour to lay before you Report of the business done in pursuance of the " Teachers' Pensions Act" during the fiscal year 1929-30. I have the honour to be, Sir, Your obedient servant, NORMAN BAKER, Civil Service Commissioner. TEACHERS' PENSIONS ACT. ANNUAL REPORT, 1929-30. REPORT OF THE BUSINESS DONE IN PURSUANCE OF THE " TEACHERS' PENSIONS ACT " DURING THE FISCAL YEAR 1929-30. 'ifhd Section 3.—The total number of Teachers contributing to the Teachers' Pensions Fill March 31st, 1930, was 3,664. Section 4-—On March 31st, 1930, 200 Teachers throughout the Province were contributing at a rate greater than 4 per cent, pursuant to the provisions of this section. Section 6.—There were 3 contributors making special voluntary contributions as at March 31st, 1930. Section 8.—Applications were considered by the Teachers' Pensions Board and Orders made for 91 contributors, under the provisions of this section. Section 14 (a), (b).—During the period April 1st, 1929, to March 31st, 1930, pensions were granted by the Teachers' Pensions Board to 2 Teachers. Section 17.—One Teacher died and an allowance was granted to the widow in accordance with the provisions of this section. Section 21.—One Teacher died during the year and refund was made to the legal representative. Section 22.—Refunds amounting to !j,222.18 were made to 18 Teachers who renounced their rights pursuant to the provisions of this section. Section 37.—Six Teachers were granted pensions pursuant to the provisions of this section. AA'ith the coming into effect of the British Columbia " Teachers' Pensions Act," a medium has been provided for the granting of a pension to those members of the Teaching Service who have, after long years of faithful service and devotion to duty, well earned a quiet and happy retirement, free, as far as possible, from care and financial worries. AAliile it is much too soon to judge the merits or demerits of the scheme as a whole, it is gratifying to report that the administrative machinery is working smoothly and so far without complaint. The necessary accounting and filing systems having been installed, the work of collecting the service records of nearly 4,000 Teachers has been completed, and the office of the Commission is now equipped with the record (personal file and individual account) of each contributor under the Act. Mention must be made of the co-operative spirit evinced by the various officials responsible for the submission of the monthly salary lists and contributions to the office of the Commission. This co-operation is prized and appreciated. Throughout the year eight meetings of the Teachers' Pensions Board were held, there being many problems arising from time to time. Full attendance of the members of the Board at all meetings is recorded. Applications for pension were received from, or on behalf of, nine members of the Teaching Service, and after due consideration by the Board, pensions were granted in each case. Ninety-one requests were received and dealt with, pursuant to the provisions of section 8 of the Act. This section provides that in the case of a member of the Teaching Service who was not employed on April 1st, 1929 (the date when the Act came into effect), the Teachers' Pensions Board may make an order granting the teacher (upon the submission of satisfactory evidence) the status of a Teacher employed as on that date. Certain amendments, more or less of a technical nature, intended to smooth the way of administration, were submitted and approved during the 1930 session of the Legislature. NORMAN BAKER, Civil Service Commissioner. X 6 BRITISH COLUMBIA. " TEACHERS' PENSIONS ACT, 1929." Statement of Revenue and Expenditure for the Period April 1st, 1929, to March 31st, 1930. Revenue. Reserve Account (section 8) §132,461.49 Teachers' contributions (section 3) 112,305.07 Provincial Government grant 25,000.00 Voluntary contributions 1,700.00 Interest on investments 1,804.39 Accrued interest on investments 3,084.09 $276,355.04 Expenditure. Refunds $232.08 Allowances 11,638.99 Investment in guaranteed securities at cost— Principal $231,033.19 Accrued interest 707.85 231,741.04 Balance— Cash on hand, March 31st, 1930 $29,658.84 Accrued interest 3,084.09 32,742.93 $276,355.04 Balance-sheet as at March 31st, 1030. Assets. Cash $29,658.84 Investments at cost— Principal $231,033.19 Accrued interest 707.85 231,741.04 Accrued interest on investments 3,084.09 $264,483.97 Liabilities. Reserve Account (section S) $134,846.10 Teachers' contributions (section 3) 112,049.07 Voluntary contributions 1,725.00 Allowance Account 13,876.45 Interest Suspense Account 1,987.35 $264,483.97 TEACHERS' PENSIONS ACT—ANNUAL REPORT, 1929-30. X 7 TEACHERS' PENSIONS IN FORCE AS AT MARCH 31st, 1930. Name. Plan. Amount per Month. Beattie, Matthew Clark, D. P Coatham, William C Cowperthwaite, F. M Downes, Mrs. D. G Elliott, Miss Alice E Gardner, Mrs. Martha Gordon, R. G Grant, Peter M Homer, Miss Mary S Lanelells, Robert Lettice, Miss E. M Lucas, Miss Mary Moore, Samuel Murray, Paul :■. McDonagh, William 'McDougall, Miss A. J MeGarrigle, Thomas A MacKenzie, Mrs. L. B McKenzie, Miss Catherine A.. Robson, J. C Smith, Miss Minnie Stramberg, H. M Thain, Mrs. Annie C Truswell, Miss Mary Total J.L J.L. J.L. S.L. S.L. and L.S. S.L. and L.S. S.L. and L.S. S.L. S.L. S.L. S.L. S.L. S.L. S.L. S.L. S.L. S.L. S.L. S.L. S.L. S.L. S.L. S.L. S.L. S.L. $50.00 26.66 '21.60 50.00 27.50 50.00 31.50 50.00 31.77 50.00 50.00 50.13 50.00 50.00 50.00 50.00 50.00 50.00 50.00 25.12 50.00 50.00 50.00 50.00 50.00 $1,114.28 TEACHERS' PENSIONS FUND. Schedule of Investments as at March 31st, 1930. Par Value. Esquimalt, 5-per-cent. Bonds, due July 31st, 1963 $20,000.00 Greater Vancouver Water District, 4%-per-cent. Bonds, due 1969 25,000.00 Kelowna, 5-per-cent. Bonds, due 1949 15,000.00 Arancouver, 5-per-cent. Bonds, due 1058 20,000.00 Alberta & Great Waterways & Railway Co., 5-per-cent. Bonds, due 1959 14,000.00 Victoria, 5-per-cent. Bonds, due 1944 5,000.00 Cranbrook, 5-per-cent. Bonds, due 1944 31,000.00 AVest Vancouver, 41/2-per-cent. Bonds, due 1948 34,000.00 Nelson, 5-per-cent. Bonds, due 1948 5,000.00 City of North Vancouver, 5-per-cent. Bonds, due 1949 30,000.00 Kelowna, 5-per-cent. Bonds, due 1948 8,000.00 Nelson, 4%-per-cent. Bonds, due 1948 15,000.00 City of North Arancouver, 4%-per-cent. Bonds, due 1961 10,706.65 District of North A'aneouver, 5-per-cent. Bonds, due 1962 7,300.00 Nanaimo, 5-per-cent. Bonds, due 1961 : 6,000.00 $246,006.65 VICTORIA, B.C. : Printed by Chables F. Banfield, Printer to the King's Most Excellent Majesty. 1931. 625-131-37130
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PROVINCE OF BRITISH COLUMBIA FIRST REPORT OF THE BUSINESS DONE IN PURSUANCE OF THE TEACHERS' PENSIONS… British Columbia. Legislative Assembly [1931]
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Title | PROVINCE OF BRITISH COLUMBIA FIRST REPORT OF THE BUSINESS DONE IN PURSUANCE OF THE TEACHERS' PENSIONS ACT FOR THE YEAR ENDED MARCH 31ST 1930 |
Alternate Title | TEACHERS' PENSIONS ACT--ANNUAL REPORT, 1929-30. |
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British Columbia. Legislative Assembly |
Publisher | Victoria, BC : Government Printer |
Date Issued | [1931] |
Genre |
Legislative proceedings |
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Text |
FileFormat | application/pdf |
Language | English |
Identifier | J110.L5 S7 1931_V02_13_X1_X7 |
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Sessional Papers of the Province of British Columbia |
Source | Original Format: Legislative Assembly of British Columbia. Library. Sessional Papers of the Province of British Columbia |
Date Available | 2016-04-18 |
Provider | Vancouver : University of British Columbia Library |
Rights | Images provided for research and reference use only. For permission to publish, copy or otherwise distribute these images please contact the Legislative Library of British Columbia |
CatalogueRecord | http://resolve.library.ubc.ca/cgi-bin/catsearch?bid=1198198 |
DOI | 10.14288/1.0300533 |
AggregatedSourceRepository | CONTENTdm |
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