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Sixteenth Annual Report of the Business Done in Pursuance of the TEACHERS' PENSIONS ACT for the Period… British Columbia. Legislative Assembly [1958]

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Full Text

 PROVINCE OF BRITISH COLUMBIA
Sixteenth Annual Report
of the Business Done in Pursuance of the
TEACHERS' PENSIONS
ACT
for the Period
JANUARY 1st TO DECEMBER 3 1st
1956
Printed by Don McDiarmid, Printer to the Queen's Most Excellent Majesty
in the right of the Province of British Columbia.
1957  To His Honour Frank Mackenzie Ross, C.M.G., M.C.,
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 period January 1st, 1956, to December 31st,
1956.
WESLEY D. BLACK,
Provincial Secretary.
Provincial Secretary's Office,
Victoria, B.C., October 11th, 1957. The Honourable Wesley D. Black,
Provincial Secretary, Victoria, B.C.
Sir,—I have the honour to lay before you the Report of the business done in
pursuance of the "Teachers' Pensions Act" during the period January 1st, 1956, to
December 31st, 1956.
I have the honour to be,
Sir,
Your obedient servant,
R. A. PENNINGTON,
Commissioner of Teachers' Pensions.
October 10th, 1957. "TEACHERS' PENSIONS ACT
ANNUAL  REPORT
REPORT OF THE BUSINESS DONE IN PURSUANCE OF THE " TEACHERS'
PENSIONS ACT" DURING THE PERIOD JANUARY 1st, 1956, TO
DECEMBER 31st, 1956.
Section 4.—Superannuation-allowance payments pursuant to this section amounted
to $97,925.49. The Minister of Finance reimbursed the Fund by the amount of
$61,195.98 in accordance with the provisions of subsection (4). The increases pursuant to subsection (5), amounting to $36,729.51, were paid from the Service Pensions
Account. As at December 31st, 1956, there were 121 persons in receipt of allowances
under this section.
Section 6.—Contributions received from teachers amounted to $2,278,892.75,
consisting of ordinary contributions of $1,915,977.08, special 1-per-cent contributions
of $360,987.79, and individual contributions for service-pension credits pursuant to
subsection (6) of $1,927.88. As at December 31st, 1956, there were 10,871 active
contributors to the Fund.
Section 8.—Employer contributions received pursuant to this section amounted to
$2,165,528.75.
Section 11.—Superannuation allowances were granted to forty-three teachers who
attained retirement age. For analysis see statements of comparative statistics appended
hereto.
Section 15.—Superannuation allowances were granted to three teachers who had
become totally and permanently disabled.
Section 16 (1), (2), and (6).—A superannuation allowance was granted to the
dependent in the case of one teacher who died while still in service.
Section 16 (4) and (5).—Refunds amounting to $20,671.66 were made in the case
of eight teachers who died while still in service.
Section 18 (1) and (2).—Refunds amounting to $260,565.93 were made to 585
teachers who left the service of their employers. In addition to the number of teachers
who received a refund, there are 441 (81 males and 360 females) who, between January
1st, 1953, and December 31st, 1956, had been absent for more than two school-years,
and had no refundable credit on termination, as they had only one year of service or less.
Section 23.—Administration expenses paid from the Fund amounted to $37,258.51.
Section 26.—During the year two meetings of the Teachers' Pensions Board were
held, at which twenty-two individual cases were dealt with.
Section 31.—The securities held by the Trustees on December 31st, 1956, are set
out in Schedule No. 1 of this Report. During the year $3,229,000 par value bonds were
purchased, the average yield being 4.04 per cent. In addition, thirty-day Treasury bills
having a maturity value of $1,150,000 were purchased, to mature on January 11th, 1957,
at a yield of 3.40 per cent. These Treasury bills were converted to long-term holdings
early in 1957. In addition, Government of Canada 3% per cent coupon bonds maturing January 15th, 1978, having a par value of $1,000,000, were sold in March, 1956, to
yield 3.45 per cent and were immediately reinvested in Government of Canada 3 per cent
bonds, maturing February 1st, 1962, to yield 3.45 per cent, in order to take advantage N 6 BRITISH COLUMBIA
of the peculiar short-term bond market. Prices paid for securities bought or sold are
determined by market conditions at the time of the transfer. Every effort is made to
invest the funds as soon as they become available and at the maximum yield possible at
the time of purchase.
Section 36 (1).—In accordance with the provisions of this section, an actuarial
valuation of the assets and liabilities of the Fund as at December 31st, 1955, was made
by Eckler and Company Ltd., consulting actuaries, and the actuarial balance-sheet appears
as Schedule No. 2 of this Report.
R. A. PENNINGTON,
Commissioner of Teachers' Pensions. TEACHERS' PENSIONS ACT—ANNUAL REPORT
TEACHERS' PENSIONS FUND
Statement of Revenue and Expenditure for the Year Ended
December 31st, 1956
Revenue
Contributions as per requirements of the " Teachers' Pensions Act"—
Employees, section 6—
Contributions for retirement annuities   $1,915,977.08
Contributions, special 1-per-cent        360,987.79
N 7
Contributions for service pensions
pursuant to subsection (6)	
Employers, section 8	
1,927.88
$2,278,892.75
2,165,528.75
Minister of Finance, section 4 (4) (as per contra) __ 61,195.98
Interest on investments and bank interest     1,037,959.16
Expenditure
Superannuation allowances—
Payable from Teachers' Pensions Fund—
Service pensions	
Section 4 (5) increases
Retirement annuities
Payable by Minister of Finance—Section 4 (4) (as per contra) 	
Refund of employees' contributions-
Section 16 (4) 	
Section 16 (5) 	
Section 18(1) 	
Section 18 (2) 	
Administration expenses, section 23
Net increase of ledger assets
$618,848.80
36,729.51
$655,578.31
177,403.08
$832,981.39
61,195.98
$11,877.83
8,793.83
257,171.98
3,393.95
$5,543,576.64
$894,177.37
281,237.59
37,258.51
1,212,673.47
$4,330,903.17 N 8                                                           BRITISH COLUMBIA
TEACHERS' PENSIONS FUND
Balance-sheet as at December 31st, 1956
Assets
General                     Trustees'
Account                     Account
Cash in bank       $5,706.32       $193,692.69
Total
$199,399.01
Accounts receivable—
Due from employees_  $214,512.86
Due from employers ____    277,808.55
     492,321.41     492,321.41
Investments at cost or par—net after
amortization of premiums and discounts (see Schedule No. 1)     32,708,349.82    32,708,349.82
(Par value, $33,079,500;   market
value, $29,265,811.)
Accrued interest on investments  324,168.90 324,168.90
$498,027.73 $33,226,211.41  $33,724,239.14
Liabilities
Employees' Retirement Annuity Account  $15,555,799.65
Employers' Service Pension Account     18,133,238.82
Accounts payable—Administration expense, etc.  35,200.67
$33,724,239.14
Approved.
R. A. Pennington, G. S. Soutar,
Superannuation Commissioner. Accountant.
I certify that the accounts of the Commissioner and Trustees of the Teachers' Pensions Fund for
the year ended December 31st, 1956, have been examined under my direction.
The liabilities in respect of Employees' Retirement Annuity Account and Employers' Service
Pensions Account are stated at book value. Under the terms of section 36 (1) of the " Teachers'
Pensions Act," chapter 334, R.S.B.C. 1948, an actuarial valuation of these liabilities was made as at
December 31st, 1955, showing a surplus on Service Pensions Account.
Subject to the foregoing remarks, I certify that the above balance-sheet is, in my opinion, properly
drawn up so as to exhibit a true and correct statement of the affairs of the Fund according to the best
of my information and the explanations given to me and as shown by the books of the Fund.
C. J. Ferber, C.A.,
Comptroller-General, Province of British Columbia.
Victoria, B.C., October 9th, 1957.
- TEACHERS' PENSIONS ACT—ANNUAL REPORT
N 9
SCHEDULE No. 1, TEACHERS' PENSIONS FUND
Trustees of the Teachers' Pensions Fund and the Minister of Finance
for the Province of British Columbia
Securities Held as at December 31st, 1956
Description
Date of
Maturity
Par Value
Cost Price
Book Value
Jan.   11, 1957
$1,150,000.00
$1,146,791.50
$1,146,791.50
Oct.     1, 1957
25,000.00
24,687.50
24,844.88
Jan.     1, 1959
990,000.00
978,485.00
982,497.70
Feb.    1, 1962
2,005,000.00
1,950,650.00
1,965,226.27
Oct.    1, 1963
444,000.00
420,231.25
429,880.45
Sept.   1, 1966
487,000.00
461,003.75
468,227.08
Jan.   15, 1978
630,000.00
618,187.50
620,046.09
Jan.     3, 1966
130,000.00
126,000.00
127,517.07
Jan.    2, 1967
128,000.00
119,930.00
122,783.14
Sept. 15, 1969
425,000.00
401,562.50
408,657.80
Jan.   16, 1971
50,000.00
47,250.00
48,027.66
Feb.    1, 1974
350,000.00
369,125.00
366,634.84
Oct.   15, 1959
5,000.00
4,931.25
4,983.58
Apr.    1, 1960
500.00
558.13
511.06
Oct.   15, 1963
100,000.00
99,500.00
99,786.23
June 15, 1964
552,000.00
544,396.25
548,150.50
July    1, 1964
700,000.00
683,410.00
691,709.54
Apr. 15, 1966
228,000.00
221,835.00
224,748.60
Oct.   15, 1966
56,000.00
52,970.00
54,369.64
Jan.   15, 1967
489,000.00
480,440.50
484,441.31
Feb.    1, 1967
400,000.00
400,000.00
400,000.00
May 15, 1967
310,000.00
310,000.00
310,000.00
June 15, 1968
184,000.00
178,443.75
180,876.86
June 15, 1968
658,000.00
642,126.25
647,554.93
July    2, 1968
300,000.00
297,780.00
298,723.35
July    2, 1968
200,000.00
200,000.00
200,000.00
Dec. 15, 1969
1,468,500.00
1,452,943.75
1,458,341.74
July 31, 1970
2,075,000.00
2,058,400.00
2,064,750.07
Aug. 10, 1970
410,000.00
406,720.00
407,970.64
Oct.     1, 1971
750,000.00
750,000.00
750,000.00
Sept. 26, 1972
200,000.00
200,000.00
200,000.00
Feb.    1, 1974
•     725,000.00
703,250.00
710,136.00
Oct.     1, 1967
513,000.00
484,466.25
494,048.47
Nov.   1, 1968
919,500.00
886,162.88
896,936.19
July     4, 1975
650,000.00
645,125.00
645,487.67
Sept. 15, 1991
1,665,000.00
1,665,000.00
1,665,000.00
May 21, 1992
533,000.00
533,000.00
533,000.00
June 15,1992
413,000.00
413,000.00
413,000.00
Sept. 15, 1992
648,000.00
648,000.00
648,000.00
Sept.   1, 1959
11,000.00
12,650.00
11,263.46
May    1, 1962
3,000.00
3,195.00
3,053.85
Sept.   1, 1962
3,000.00
3,521.70
3,151.39
Sept.   1, 1962
2,000.00
2,505.00
2,145.34
May    1, 1963
2,000.00
2,140.20
2,044.33
May    1, 1964
5,000.00
5,389.00
5,137.33
Sept.   1, 1965
7,000.00
8,202.50
7,498.47
Mar.   1, 1968
3,000.00
3,475.00
3,218.73
Sept.   1, 1969
18,000.00
22,390.25
20,102.93
Sept.   1, 1970
1,000.00
1,157.90
1,077.96
Sept. 15, 1959-72
246,000.00
247,894.20
246,000.00
Aug.    1, 1957-76
160,000.00
153,243.20
153,243.20
July   15, 1959-72
160,000.00
160,000.00
160,000.00
July   15, 1959-72
1,486,000.00
1,486,000.00
1,486,000.00
June    1, 1960-63
135,000.00
133,312.50
133,424.25
and 1970-74
Oct.   15, 1960-74
75,000.00
73,852.50
73,948.74
Government of Canada—
Thirty-day Treasury bills..
2% bonds	
3 % bonds	
3 % bonds 	
3% bonds	
3 % bonds 	
3 % % bonds	
Guaranteed by Government of Canada-
Canadian National Railways—
3% bonds— 	
2%% bonds.
2%% bonds..
2%% bonds.
3%% bonds..
Province of British Columbia-
234% bonds	
4V_ % bonds	
2%% bonds	
3 % bonds  	
3 % bonds	
2%% bonds	
234% bonds..	
2%% bonds	
2%% bonds..	
2%% bonds	
2%% bonds	
3% bonds	
3% bonds...	
2%% bonds	
3% bonds	
3% bonds...	
3% bonds	
2%% bonds	
2%% bonds..	
3% bonds.
Guaranteed by Province of British Columbia—
British Columbia Power Commission—
3 % bonds	
3 % bonds 	
3*4% bonds..
33/.% bonds.
4% bonds	
4% bonds.	
4% bonds	
Vancouver and District Joint Sewerage and Drainage Board—
5% bonds	
4% bonds 	
5% bonds	
5*4% bonds..
4% bonds	
4% bonds	
4*_% bonds_
4%% bonds..
5% bonds	
4*4% bonds_
School District No. 1 (Fernie)—
4V4 % bonds —.	
School District No. 4 (Windermere) —
3% % bonds	
School District No. 6 (Kootenay Lake)-
4*4 % bonds	
School District No. 7 (Nelson)—
4*4 % bonds  ..
School District No. 9 (Castlegar)—
3*4% bonds	
3*4% bonds.. N 10
BRITISH COLUMBIA
SCHEDULE No.  1, TEACHERS' PENSIONS FUND—Continued
Description
Date of
Maturity
Par Value
Cost Price
Book Value
Guaranteed by Province of British Columbia—Continued
School District No. 11 (Trail)—
3*4% bonds    ..
.3*_% bonds
June
Oct.
Oct.
May
June
May
Aug.
1,1960-74
15, 1960-74
15, 1960-74
1, 1966-75
1, 1960-69
1,1966-75
1, 1957-76
1, 1966-75
15, 1960-74
1, 1966-75
1, 1957-76
1, 1966-75
15, 1966-75
1, 1957-65
1, 1962-65
e   1, 1959
1, 1959-73
15, 1960-74
1,1966-75
15, 1963-74
1, 1957-76
1, 1960-73
1,1957-76
1, 1970-74
15, 1960-74
1, 1967-75
1,1957-76
15, 1960-74
1, 1966-75
1, 1960-73
1,1965-67
1, 1957-76
15, 1965-68
15,1964-68
1, 1957-76
1, 1957-76
1, 1957-76
15, 1966-75
1, 1960-74
1, 1961-70
30, 1966-70
1, 1966-75
$345,000.00
75,000.00
95,000.00
60,000.00
161,000.00
150,000.00
170,000.00
85,000.00
225,000.00
100,000.00
250,000.00
100,000.00
255,000.00
675,000.00
100,000.00
40,000.00
150,000.00
566,000.00
125,000.00
228,000.00
300,000.00
840,000.00
300,000.00
42,000.00
178,000.00
90,000.00
300,000.00
120,000.00
120,000.00
392,000.00
72,000.00
300,000.00
65,000.00
121,000.00
400,000.00
250,000.00
300,000.00
120,000.00
345,000.00
63,000.00
45,000.00
78,000.00
$340,283.85
73,852.50
93,546.50
60,000.00
158,799.13
150,000.00
162,820.90
85,000.00
221,557.50
100,000.00
239,442.50
100,000.00
253,521.00
686,657.25
100,000.00
39,453.20
151,155.00
557,340.20
125,000.00
224,511.60
287,331.00
864,612.00
287,331.00
41,425.86
175,276.60
90,000.00
287,331.00
118,164.00
120,000.00
403,485.60
74,109.60
287,331.00
65,500.50
121,931.70
383,108.00
239,442.50
287,331.00
119,304.00
340,687.50
64,946.70
46,125.00
79,755.00
$340,804.46
73,948.74
School District No. 14 (South Okanagan)—
3*4% bonds                   	
93,670.94
314% bonds
60,000.00
School District No. 24 (Kamloops) —
3*4% bonds       .                        	
159,143.38
150,000.00
School District No. 26 (Birch Island)—
3%% bonds          _	
162,820.90
School District No. 32 (Fraser Canyon)—
3*4% bonds                                  	
May
Oct.
May
Aug.
May
Sept.
May
Aug.
Jun
Sept.
Oct.
May
Oct.
Aug.
Nov.
Aug.
June
Oct.
May
Aug.
Oct.
May
Dec.
Nov.
Aug.
Sept.
Oct.
Aug.
Aug.
Aug.
Sept.
June
Sept.
June
July
85,000.00
School District No. 36 (Surrey)—
3*4% bonds                                     	
221,846.23
3*4% bonds                      .      ....      	
100,000.00
School District No. 37 (Delta)—
3%% bonds         _            - _	
239,442.50
School District No. 38 (Richmond)—
3*4% bonds                         ..                    	
100,000.00
3*4% bonds                   .                    	
253,544.93
School District No. 39 (Vancouver) —
3*4% bonds                         	
675,000.00
100,000.00
School District No. 41 (Bumaby)—
3*4% bonds              - _ 	
39,615.73
150,000.00
3*4% bonds                                 -  -	
558,001.14
3*4% bonds                      	
125,000.00
School District No. 43 (Coquitlam)—
3*4% bonds       —-   -	
224,754.98
School District No. 44 (North Vancouver)—
287,331.00
840,000.00
School District No. 45 (West Vancouver)—
3%% bonds                           	
287,331.00
3*4% bonds
41,471.66
School District No. 47 (Powell River) —
3*4% bonds
175,504.72
90,000.00
School District No. 48 (Howe Sound)—
3%% bonds                -    -
287,331.00
School District No. 49 (Ocean Falls) —
3*4% bonds         - -	
3*4% bonds                  -      	
118,307.06
120,000.00
School District No. 54 (Smithers)—
392,000.00
School District No. 56 (Vanderhoof)—
72,000.00
School District No. 57 (Prince George)—
287,331.00
School District No. 61 (Victoria)—
65,000.00
School District No. 62 (Sooke)—
121,000.00
School District No. 63 (Saanich)—
383,108.00
School District No. 65 (Cowichan)—
3%% bonds                                               	
239,442.50
School District No. 70 (Alberni)—
287,331.00
3*4% bonds                                               	
119,315.24
School District No. 80 (Kitimat)—
3*4% bonds                 -	
340,980.87
Village of Qualicum Beach—
63,000.00
Village of Westview—
45,000.00
Village of Williams Lake—
78,000.00
Totals
$33,079,500.00
$32,652,762.65
1
$32,708,349.82 TEACHERS' PENSIONS ACT—ANNUAL REPORT
SCHEDULE No. 2, TEACHERS' PENSIONS FUND
Valuation Balance-sheet as of December 3 1st, 1955
Service Pensions Account
N  11
Assets
1. Net funds on hand	
2. Present value in perpetuity of l-per-cent employee
contributions 	
$15,724,000
10,759,000
3. Present value of normal employer contributions     13,881,000
4. Present value in perpetuity of excess of 6-per-cent
employer contributions over normal employer
contributions      30,173,000
Total assets
$70,537,000
Liabilities
5. Present value of future service pensions in respect
of employees—
(i)  On pension, January 1st, 1941        $319,000
(ii) In service, January 1st, 1941, and on pension, December 31st, 1955       6,745,000
(iii) In service, December 31st, 1955     46,795,000
Total liabilities
6. Surplus
$53,859,000
16,678,000
$70,537,000
Retirement Annuity Account
Assets
7. Net funds on hand	
8. Outstanding employee contributions.
9. Present value of future estreatments...
Total assets
Liabilities
10. Actuarial reserves in respect of employees—
(i) On pension, December 31st, 1955_
$13,634,000
100,000
1,155,000
$14,889,000
$1,856,000
(ii) In service, December 31st, 1955  12,787,000
11. Liability with respect to employees ineligible for
benefits   161,000
12. Outstanding refund values  85,000
$14,889,000
CERTIFICATE OF ACTUARY
This is to certify that, in my opinion, the above valuation balance-sheet represents the assets
and liabilities of the Teachers' Pensions Fund as of December 31st, 1955, on the basis of the data
submitted to me by the Superannuation Commissioner and of the assumptions made in this report.
Samuel Eckler,
October 27th, 1956. Fellow, Society of Actuaries. N  12
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J   ci   *o 1 TEACHERS' PENSIONS ACT—ANNUAL REPORT
SCHEDULE No. 4, TEACHERS' PENSIONS FUND
N 13
Comparative Statistics, January 1st, 1947, to December 31st, 1956—Allowances Granted and in Force, Subdivided by Type and Plan of Allowance
In Force at Beginning
of Year
Granted during
Year
Expired during
Year
In Force at End
of Year
Fiscal Year
3
o
"Si
E
-9
TJ
3>
u
a
u
ra
3
O
3
B
O
to
1
>>
Ih
rt   ._
4) B
3
a
E
-_
u
E
ra
Ui
ra
3
O
3
B
O
TJ
(G
o
s
H
si
g.3
E B
u E
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a)
*oi
E
t/3
Guaranteed1
ID
3
B
O
TJ
<_
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o
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ft 3
Eg
U B
o
3
u
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ra
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W _
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(a)
(6)
ft 3
E B
§ B
1947—
Normal retirement
Disability	
Death	
198
72
45
106
18
36
12
ii
—
21
5
1
14
4
9
1
2
—
7
4
1
1
1
....
._.
212
73
45
118
22
45
13
13
—
Totals	
315 |124
48
"
—
27
18
10 |    2 | _
12
1
1
—
—
—
330 |140 | 58
13
—
1948—
Normal retirement
1
212 1118
73 1 22
45 | ....
45
13
13
12
2
9
17
2
....
2
-
5
3
1
1
1
3
l
—
219
72
53
133
24
44
13
12
—
Death 	
Totals	
330 ] 140
58
13
....
23
19 |    2
.._
9
1
1
3
l
—
344 [157
57
12
....
1949—
Normal retirement
Disability	
Death     	
1
219 |133
72    24
53 | ....
44
13
12
....
18
7
16
4
1
—
9
2
1
....
1
—
-
228
70
59
149
24
47
14
12
	
Totals	
344 |157
57
12 | ....
25
16
5 | _. | -
12 | ....
4|   i
—
357 1173 | 61
12
—
1950—
Normal retirement
228
70
59
149
24
47
14
12
19
2
3
17
5
3
	
8
3
3
l
i
2
-
—
239
69
59
165
28
48
14
12
—
Death	
Totals     .. .
357 1173
61
12
24
22 |    3 | ....
14 | ....
i
2
367
193 [ 62
12
1951—
Normal retirement
239
69
59
165
28
48
14
12
—
8
1
1
2
1
1
40
8
3
-
2
2
n
_..
-
239
67
60
163
28
48
15
12
40
Death      —
Totals..	
367 1193
62
12 | _..
10
3
.1-
40
11
2|    3
._.
366 1191 | 63
12
40
1952—
Normal retirement
239
67
60
163
28
48
15
12
40
2
6
5
1
....
....
1
1
48
8
4
4
l
-
-
1
233
69
65
159
28
48
16
1
12
87
Death 	
Totals	
366 [191
63
12 | 40
13
1 |    2 | .... | 48
12
4|    1
_. | __
1
367 [187 | 65
12 | 87
1953—
Normal retirement
233
69
65
159
28
48
16
1
12
87
2
4
3
z
1
2
27
10
1
3
1
4      2
.... | ....
- 1 -
1
11
225 |156
68    28
66 | ....
49
17
1
12
103
Death.. J  	
Totals	
367 |187
65
12
87
6
3 |    3 | .... | 27
14
4 |    2
1 | ....
11
359 |184 | 67
12 |103
1954—
Normal retirement
Disability.-..	
Death       	
225   156
68 | 28
66 |  ....
49
17
1
12
103
3
2
3
2
1
1
32
13
5
1      2
.... | ....
.... | ....
2
1
-
4
215
65
69
155
28
47
17
2
12
131
Totals    .
359 |184
67
12
103
8
2 |    2 | .... | 32
18
1 1    2
3 | ....
4
349 [183 | 66
12 |131
1955—»
Normal retirement
Disability 	
Death... 	
137
70
69
115
28
45
16
2
12
247
2
3
4
1
39
2
11
3
3
2
3
1
....
126
69
72
114
25
46
15
2
12
286
2
Totals --	
276 |143
63
12 |247
5
4
1 | ....
41
14
3|    5
1
267 |139 | 63
12
288
1956—
Normal retirement
Disability  —
Death     	
126 |114
69 [ 25
72 | ....
46
15
2
12
I
286
2
3
3
1
4
1
___„
35
10
6
1
2      1
l|    1
.... ] ....
1
l
3
119
66
73
115
23
46
15
2
11
318
Totals
267 |139
1
.
12 |288
1
7
4
1
35
16
31    2
1
l
3
258 [138
63
11 [320
1 Guaranteed: (a) Superannuant died after expiration of guaranteed period; (b) guaranteed period expired, super-
annuant having died previously.
3 Disability;  recovery;   returned to teaching service.
3 From 1955 the figures are on actual count by plan in force, including those changed to temporary annuity effective
January 1st, 1952. N 14
BRITISH COLUMBIA
SCHEDULE No. 5, TEACHERS' PENSIONS FUND
Comparative Statistics, January 1st, 1946, to December 31st, 1956,
Subdivided according to Sex of Contributor
Number of
Contributors
Allowances
Fiscal Year
Number of
Refunds
Granted
Number of
Allowances
Granted
Number of
Deaths and
Expirations
Number of
Allowances
in Force at
End of Year
Male
Female
Male
Female
Male
Female
Male
Female
Male
Female
1946	
Non-active	
1947	
1,742
227
2,100
169
2,135
170
2,385
129
2,724
105
2,976
148
3,159
174
3,384
93
3,668
146
4,055
148
4,397
147
3,387
666
3,842
438
4,012
532
4,260
711
4,561
630
4,605
898
4,856
972
5,260
622
5,593
777
5,954
466
6,474
668
97
118
111
71
52
85
70
59
54
76
93
511
504
444
362
359
412
376
469
436
478
500
29
26
25
21
24
25
28
27
27
28
21
20
31
19
"25
25
29
36
12
17
23
26
5
4
11
5
5
6
9
10
10
14
9
9
10
4
~8
13
10
9
221
181
~~9
17
200
222
2l6
252
271
289
308
325
342
357
i69
298
319
1948   . .     ...       ..   .
334
1949
351
1950	
363
1951       _	
383
1952   	
410
Non-active... _	
1953 	
400
1954
399
1955 	
412
1956...    	
Non-active2	
421
1 Expiries include allowances rescinded:   1953, 13;   1954, 1.
2 Non-active accounts include only those former teachers who have been out of teaching service over two years and
still have refundable credits.
Printed by Don McDiarmid, Printer to the Queen's Most Excellent Majesty
in the right of the Province of British Columbia.
1957
260-1157-9918  

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