PROVINCE OF BRITISH COLUMBIA
ELEVENTH ANNUAL REPORT
of the business done in pursuance of the
CIVIL SERVICE
SUPERANNUATION ACT
for the Year ended March 31st
1946
VICTORIA, B.C. :
Printed by Don McDiarmid, Printer to the King's Most Excellent Majesty.
1947. To His Honour C. A. Banks,
Lieutenant-Governor of the Province of British Columbia.
May it please Your Honour:
The undersigned respectfully submits the Eeport of the business done in pursuance
of the " Civil Service Superannuation Act " during the fiscal year 1945-46.
G. S. PEARSON,
Provincial Secretary.
Provincial Secretary's Office,
Victoria, B.C. The Honourable G. S. Pearson,
Provincial Secretary, Victoria, B.C.
Sir,—I have the honour to lay before you the Report of the business done in pursuance of the " Civil Service Superannuation Act" during the fiscal year 1945-46.
I have the honour to be,
Sir,
Your obedient servant,
NORMAN BAKER,
Superannuation Commissioner. SUPERANNUATION REPORT, 1945-46.
REPORT OF THE BUSINESS DONE IN PURSUANCE OF THE " CIVIL SERVICE
SUPERANNUATION ACT " DURING THE FISCAL YEAR 1945-46.
Sections 6, 7, and 9.—Contributions were made by the employees of the British
Columbia Government of $533,135.65. The Minister of Finance provided an equal
amount as a contribution from the employer to the Fund.
Section 10.—There were 485 contributors making voluntary contributions pursuant
to this section as at March 31st, 1946. Contributions received under this section
amounted to $55,743.
Section 13.—Interest was credited at the rate of 5 per cent, per annum on September 30th, 1945, and March 31st, 1946, on the credit balances of the previous April
1st, 1945, and October 1st, 1945, respectively.
Section Ik.— (1.) (a.) The sum of $112,855.29 was refunded under sections 22
and 23. Like amounts were transferred from the British Columbia Government
Employer's Account to the Special Reserve Account.
(3.) The cash credit balance of the British Columbia Government Special Reserve
Account amounted to $1,675,221.04 on March 31st, 1946.
Section 15.—An amount of $5,875.03 was received from British Columbia Government employees who were reappointed to the service of the employer.
Section 16.—A statement of all moneys received and paid out under the provisions
of this Act and the assets and liabilities appertaining to the granting of superannuation
allowances under its provisions is given in the Statement of Revenue and Expenditure
and the Balance-sheet.
Section 17.—Superannuation allowances were granted to 77 British Columbia
Government employees.
Section 20.— (1.) Superannuation allowances were granted to dependents in the
case of 12 employees who died while in service.
Section 22.—Nine British Columbia Government employees died during the year
and refunds were made to their legal representatives.
Section 23.—Four hundred and sixty-one contributors, on leaving the Government
Service, secured refunds of the amounts standing at their credit. An amount of
$9,660.67 was transferred to the employees' credit in Employees' Suspense Account
listed under " Unclaimed Moneys " in Schedule No. 1.
Section 35.—An amount of $1,663.57 was paid over to the Minister of Finance in
accordance with the provisions of this section.
NORMAN BAKER,
Superannuation Commissioner. V 6 BRITISH COLUMBIA.
CIVIL SERVICE SUPERANNUATION FUND.
Statement of Revenue and Expenditure for the Period April 1st, 1945,
to March 31st, 1946.
Revenue.
Deposits with Treasury, April 1st, 1945 $13,810,653.78
Contributions as per requirement of the " Civil Service Superannuation
Act "—
Employees—
Sections 6, 7, and 9 $533,135.65
Section 15 5,875.03
Section 17 (5) 486.20
Voluntary, section 10 55,743.00
$595,239.88
Employer—
Sections 8 and 9 $533,135.65
Special Reserve, section 14 (1) (&)_.. 150,484.73
Section 17 (6) 486.20
684,106.58
Provided out of Consolidated Revenue pursuant to sections 17 (8), 18 (7), and 20 (la) as per contra 5,141.00
Interest received from Minister of Finance pursuant to section 13 692,456.33
1,976,943.79
$15,787,597.57
Expenditure.
Superannuation allowances—
Prior service pensions $104,174.47
Less amount refunded 670.71
$103,503.76
Contributory pensions $262,021.51
Less amount refunded 5,107.08
256,914.43
Provided out of Consolidated Revenue pursuant to sections 17 (7), 18 (6), and 20 (la) as per contra. 5,141.00
Refunds—
Section 22 $8,003.45
Section 23 104,851.84
Section 35 1,663.57
Sundries 1,921.51
Voluntary contributions 5,393.93
• 121,834.30
$487,393.49
Balance—Deposits with Treasury, March 31st, 1946 15,300,204.08
$15,787,597.57 CIVIL. SERVICE SUPERANNUATION REPORT, 1945-46. V 7
CIVIL SERVICE SUPERANNUATION FUND.
Balance-sheet as at March 31st, 1946.
Assets.
Deposits with Treasury : $15,300,204.08
$15,300,204.08
Liabilities.
Contributory Pensions Account, amount available for payment of current pensions (contributory portion only) $2,774,534.52
Special Reserve Account for prior service pensions 1,675,221.04
Balance at credit of contributors—
Employees $5,314,633.27
Employer 5,314,633.27
Voluntary contributions (employees) 204,314.34
10,833,580.88
Employees' Suspense Account, unclaimed moneys at credit of former
employees' accounts as per Schedule No. 1 16,867.64
$15,300,204.08
Present value of superannuation allowances as at March 31st, 1946—
Contributory pensions $2,575,492.00
Prior service pensions 797,043.00
$3,372,535.00 V 8
BRITISH COLUMBIA.
No. in
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V 9
CIVIL SERVICE SUPERANNUATION FUND.
Comparative Statistics, April 1st, 1945, to March 31st, 1946, subdivided
according to sex of contributor.
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, No. of Refunds
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1945-46
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BRITISH COLUMBIA.
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1 CIVIL SERVICE SUPERANNUATION REPORT, 1945-46.
V 11
SCHEDULE No. 1.
Unclaimed Moneys in the Civil Service Superannuation Fund at Credit op
Former Employees' Accounts.
Name.
Department.
Amount.
Bridge, Wm. F
Bescoby, Miss Isabel M. L...
James, Miss Marion D
Miles, Miss Gladys W
Wilson, Miss Constance M..
Gibson, Robert
Baker, Miss Joyce E
Boyes, Francis C
Davidson, Dr. George F
Moscovich, Miss Rebecca
Maclnnes, Wm. Hedley
Riddell, Miss Joan M
Titterington, Mrs. May
' Wallis, Edward C
Warren, Dr. Alfred J
Wyness, Miss Enid S
Knight, Mrs. Ellen S
Askew, Miss Greeta
Dodd, John C
Laverock, David J
Williams, E
Total
Attorney-General
Education
Education
Education
Education
Finance
Provincial Secretary..
Provincial Secretary..
Provincial Secretary..
Provincial Secretary..
Provincial Secretary..
Provincial Secretary..
Provincial Secretary..
Provincial Secretary..
Provincial Secretary..
Provincial Secretary..
Public Utilities
Public Works
Public Works
Public Works
Public Works
$4,478.19
940.14
950.23
248.86
4.11
1,828.19
146.96
1,330.25
1,068.02
242.93
2,218.45
555.28
128.42
85.62
308.58
321.33
77.33
945.61
978.48
8.91
1.75
$16,867.64
VICTORIA, B.C.:
Printed by Don MoDiabmid, Printer to the King's Most Excellent Majesty.
1947.
405-1246-8673
BC Sessional Papers
PROVINCE OF BRITISH COLUMBIA ELEVENTH ANNUAL REPORT of the business done in pursuance of the CIVIL SERVICE… British Columbia. Legislative Assembly [1947]
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