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Eighteenth Annual Report of the Business Done in Pursuance of the MUNICIPAL SUPERANNUATION ACT for the… British Columbia. Legislative Assembly 1958

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Full Text

 PROVINCE OF BRITISH COLUMBIA
Eighteenth Annual Report
of the Business Done in Pursuance of the
MUNICIPAL
SUPERANNUATION ACT
for the
YEAR ENDED MARCH 31st
1957
Printed by Don McDiarmid, Printer to the Queen's Most Excellent Majesty
in right ot the Province of British Columbia.
1958  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 " Municipal Superannuation Act " during the fiscal year ended March 31st, 1957.
WESLEY D. BLACK,
Provincial Secretary.
Provincial Secretary's Office,
Victoria, B.C., October 18th, 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 " Municipal Superannuation Act" during the fiscal year ended March
31st, 1957.
I have the honour to be,
Sir,
Your obedient servant,
R. A. PENNINGTON,
Superannuation Commissioner.
October 17 th, 1957.
J ■
Municipal Superannuation Report, 1956/57
REPORT OF THE BUSINESS DONE IN PURSUANCE OF THE " MUNICIPAL
SUPERANNUATION ACT " DURING THE FISCAL YEAR ENDED MARCH
31st, 1957.
Section 3.—The following employers adopted the Act pursuant to the provisions of
clause (b) of this section effective from the dates shown:—
Employer Effective Date
Village of Oliver May 1st, 1956
Village of Fruitvale July 1st, 1956
District of Powell River September 1st, 1956
School District No. 27 (Williams Lake) November 1st, 1956
Village of Hope December 1st, 1956
School District No. 53 (Terrace) December 1st, 1956
Village of North Kamloops January 1st, 1957
Section 4.-—Superannuation-allowance payments pursuant to this section amounted
to $105,341.71. As at March 31st, 1957, there were 321 persons in receipt of an allowance under this section.
Section 5.—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 statements of revenue and expenditure
and the balance-sheets appended hereto.
Section 6.—Regular employee contributions amounted to $1,742,724.50, and employee contributions made under Over-age Agreements amounted to $172,085.82. As at
March 31st, 1957, there were 7,537 regular contributors and 959 contributors under
Over-age Agreements.
Section 8.—Regular employer contributions amounted to $1,834,553.99, and employer contributions made under Over-age Agreements amounted to $224,267.19. Of the
ninety-seven employers, forty-three made contributions under subsection (2) in amounts
of $609,752.95 to Account "A" and $674,007.37 to Account " B." The remaining
fifty-four employers made contributions under subsection (1) in amounts of $271,964.29
to Account "A" and $247,034.25 to Account " B." Extra employer contributions
totalling $31,795.13, being one-half of 1 per cent of salaries for firemen and police in
Vancouver and Victoria, were made pursuant to Special Agreements under subsection
(6). Ultimately these contributions will be transferred to the Retirement Annuity
Account to provide additional benefits in accordance with the Special Agreements.
Section 10.—The net requirements in the case of each employer were ascertained
in the manner prescribed by this section. Certificates of loan were issued in the amount
of $10,946.53, in accordance with the provisions of subsection (4) (c) of this section.
Outstanding certificates of loan were reduced by the amount of $119,896.87, and cash
advances were reduced by the amount of $2,165.35, in accordance with the provisions
of subsection (6) of this section.
Section 14.—Superannuation allowances were granted to seventy-six contributors
who attained retirement age. For analysis, see statements of comparative statistics
appended hereto. As provided in subsection (2) (b), the Commissioner, with the
approval of the Provincial Secretary, during the year entered into agreements with nine U 6 BRITISH COLUMBIA
employers under the Act, whereby the Act was made to apply to a total of sixty-nine
employees who entered their service after the maximum eligible age of regular contributors.
Section 19.—Two superannuation allowances were granted during the year under
the total and permanent disability provisions.
Section 20.—Superannuation allowances were granted to the dependent in the case
of sixteen contributors who died while still in service. Refunds amounting to $7,181.39
and $5,351.79 respectively were made in the case of five regular contributors and nine
over-age contributors who died while still in service.
Section 23.—Refunds amounting to $438,078.05 and $22,370.64 respectively were
made in the case of 1,088 regular contributors and sixty-one over-age contributors who
left the service of their employers.
Section 28.—Administration expenses amounting to $29,949.40 were paid into the
Consolidated Revenue Fund of the Province by the various employers under the Act in
accordance with the provisions of this section. The total expenses of the Superannuation
Branch are distributed among the various funds administered on the basis of the number
of contributors and pensioners. This annual unit amounted to approximately $3.45 for
1952/53, $3.30 for 1953/54, $3.20 for 1954/55, $3 for 1955/56, and $2.83 for
1956/57.
Section 33. — During the year $1,835,000 par-value bonds were purchased, the
average yield being 4.37 per cent. In addition, sundry short-term Treasury bills having
a maturity value of $1,467,000 at an average yield of 3.84 per cent were held as at
March 31st, 1957. These Treasury bills were converted to long-term holdings early in
May, 1957.
In addition, Government of Canada 2-per-cent coupon bonds maturing October 1st,
1957, having a par value of $470,000 were sold in September, 1956, to yield an average
of 3.62 per cent and were immediately reinvested in British Columbia Government
guaranteed school district serial bonds to yield an average of 4.24 per cent.
Prices paid for securities bought or sold are determined by market conditions at the
time of transfer. Every effort is made to invest the funds as soon as they become available and at the maximum yield at the time of purchase.
Section 38.—-In accordance with the provisions of this section, an actuarial valuation
of the assets and liabilities of the Fund as at March 31st, 1954, was made by Messrs.
Pipe and Eckler, consulting actuaries, and mimeograph copies were sent to each of the
employers.
R. A. PENNINGTON,
Commissioner of Municipal Superannuation. MUNICIPAL SUPERANNUATION REPORT. 1956/57 U 7
MUNICIPAL SUPERANNUATION FUND
Statement of Revenue and Expenditure for the Fiscal Year
Ended March 31st, 1957
REVENUE
Contributions as per requirements of the " Municipal Superannuation Act"—
Employees, section 6  $ 1,742,724.50
Employers, section 8—
Account "A" (Schedule No. 1)  $881,717.24
Account " B " (Schedule No. 2)     921,041.62
Special Agreement bonus contributions       31,795.13
     1,834,553.99
Interest on investments and bank interest       953,944.74
$4,531,223.23
EXPENDITURE
Superannuation allowances—
Paid from Employers' Service Pension Account "A"—
Allowances pursuant to section 4  $105,341.71
Service Pensions Account "A"     786,518.47
      $891,860.18
Paid from Employers' Service Pension Account "B "  7,691.05
Paid from Employees' Retirement Annuity Account        313,992.75
$1,213,543.98
Refunds—
Section 20      $7,181.39
Section 23      438,078.05
Sundry          6,918.81
        452,178.25
Administration expense, sections 27 and 28  4,425.00
     1,670,147.23
Net increase of ledger assets  $2,861,076.00 U 8 BRITISH COLUMBIA
MUNICIPAL SUPERANNUATION FUND
Balance-sheet as at March 31st, 1957
ASSETS
Trustees' General
Account Account Total
Cash in bank  $3,246.62    $74,055.85 $77,302.47
Accounts receivable—contributions due from municipalities, hospitals, school districts, etc         306,150.81 306,150.81
Investments at cost or par — net after amortization of
premiums and discounts (see Schedule No. 3)     25,884,771.93      25,884,771.93
(Par value,  $26,071,000;   market  value,
$23,469,519.)
British Columbia Government certificates of loan       2,809,945.35        2,809,945.35
Accrued interest on investments  198,282.02   198,282.02
$28,896,245.92 $380,206.66 $29,276,452.58
LIABILITIES
Employees' Retirement Annuity Account  $14,431,683.12
Employer Service Pension Accounts—
Account "A" (see Schedule No. 1)  $7,468,895.41
Account " B "      7,178,799.07
     14,647,694.48
Vancouver Agreement Bonus Account for Firemen and Policemen  66,559.87
Victoria Agreement Bonus Account for Policemen  6,931.07
Victoria Agreement Bonus Account for Firemen  2,355.06
Sundry accounts payable  16,736.60
Investment Adjustment Reserve Account  104,492.38
$29,276,452.58
Approved.
R. A. PENNINGTON,
Superannuation Commissioner.
G. S. SOUTAR,
Accountant.
COMPTROLLER-GENERAL'S CERTIFICATE
I certify that the accounts of the Municipal Superannuation Fund for the year ended March 31st,
1957, have been examined under my direction.
An actuarial valuation as at March 31st, 1954, made by Mr. Samuel Eckler, F.S.A., and contained
in his report dated December 24th, 1954, shows a deficit of $429,000 in the Employees' Retirement
Annuity Account and a deficit of $38,000 in Employers' Service Pension Account " B."
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 16th, 1957.
J MUNICIPAL SUPERANNUATION REPORT, 1956/57
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tu< U 12
BRITISH COLUMBIA
SCHEDULE No. 2
Service Pension Account " B "
Contributions by Employer for Year Ended March 31st, 1957
City of—
Chilliwack
Courtenay
Cranbrook
Duncan 	
Enderby	
Fernie 	
Grand Forks
Kamloops 	
Kelowna 	
Kimberley 	
Langley 	
Merritt 	
Nanaimo 	
Nelson 	
New Westminster.
North Vancouver.
Penticton 	
Port Alberni	
Port Coquitlam	
Port Moody	
Prince Rupert 	
Revelstoke	
Rossland 	
Salmon Arm	
Trail  	
Vancouver
Vernon 	
Victoria ___
District of—
Burnaby
Central Saanich
Chilliwhack 	
Coldstream	
Creston 	
Esquimalt 	
Glenmore 	
Hope
Langley	
Maple Ridge	
Village of Mission City _
North Cowichan	
North  Shore  Union Board  of
Health 	
North Vancouver	
Oak Bay	
Quesnel	
Richmond	
Saanich	
$547.59
278.44
2,966.13
1,547.30
336.12
1,109.94
191.49
4,487.87
5,712.41
1,795.17
189.48
278.40
7,767.66
9,615.21
29,649.01
13,907.28
7,059.70
494.16
1,488.99
744.72
3,893.60
1,980.20
257.59
764.04
6,050.48
397,220.30
4,883.29
55,730.78
38,179.13
292.32
526.22
135.48
339.16
4,206.68
402.48
93.01
3,074.24
258.29
746.41
2,032.77
1,106.99
15,662.51
9,794.06
480.89
5,959.73
19,718.18
District of—Continued
Salmon Arm 	
Surrey	
Warfleld 	
West Vancouver	
Greater Vancouver Water District 	
Greater Victoria Water District
University Endowment Lands ___
Greater    Vancouver    Sewerage
and Drainage Board	
Hospitals—
Royal Jubilee	
Vancouver General 	
School District of—
Burnaby, No. 41 	
Campbell River, No. 72	
Castlegar, No. 9
Chilliwack, No. 33
Creston, No. 5	
Fernie, No. 1
Greater Victoria, No. 61
Howe Sound, No. 48	
Kamloops, No. 24	
Kimberley, No. 3	
Kitimat, No. 80	
Mission, No. 75	
Nelson, No. 7	
New Westminster, No. 40 _
North Vancouver, No. 44 _
Penticton, No. 15	
Powell River, No. 47	
Prince Rupert, No. 52	
Princeton, No. 17	
Richmond, No. 38	
Saanich, No. 63 	
Salmon Arm, No. 20 _
Slocan, No. 8	
Sooke, No. 62	
Southern Okanagan, No. 14.
Trail, No. 11
Vancouver, No. 39 _.
Vanderhoof, No. 56
Vernon, No. 22 .
West Vancouver, No. 45 .
Williams Lake, No. 27 ....
$198.12
7,605.08
80.75
14,063.56
13,965.34
1,842.09
3,961.70
3,002.46
20,682.83
107,030.49
9,710.24
871.68
71.34
1,059.59
975.82
942.20
9,575.09
100.29
615.19
280.13
553.58
567.07
1,637.57
2,941.41
2,714.58
762.27
308.42
334.80
184.80
2,898.97
21.72
456.24
171.00
148.30
843.12
2,269.23
40,265.81
244.80
1,397.75
1,586.52
143.77
$921,041.62 MUNICIPAL SUPERANNUATION REPORT,  1956/57 U 13
SCHEDULE No. 3
Trustees of the Municipal Superannuation Fund and the Minister of
Finance for the Province of British Columbia
Securities Held as at March 31st, 1957
Description
Date of Maturity       Par Value
Cost Price
Book Value
Government of Canada—
49-day Treasury bills.-
24-day Treasury bills..
3% bonds	
3% bonds	
3% bonds	
3% bonds	
3?4% bonds	
Apr. 18, 1957
Apr. 18, 1957
1, 1959
1, 1960
1,1962
1, 1963
15,1978
Jan
June
Feb.
Oct.
Jan.
Guaranteed by Government of Canada—
Canadian National Railways—
2% % bonds	
2% % bonds	
3%% bonds	
Jan. 2, 1967
Sept. 15,1969
Feb.     1, 1974
Province of British Columbia-
2%% bonds 	
2%% bonds_ 	
3% bonds	
3% bonds	
2%% bonds-
234% bonds..
23/4% bonds..
23/4% bonds...
2%% bonds...
2%% bonds...
2%% bonds...
3% bonds	
3% bonds	
3% bonds	
3% bonds	
3% bonds 	
2?4% bonds...
2?4% bonds...
3% bonds.	
Oct.
Oct.
June
July
Apr.
July
Oct.
Jan.
Feb.
May
June
June
July
Dec.
July
Aug.
Oct.
Sept.
Feb.
15,1962
15, 1963
15, 1964
1, 1964
15, 1966
20, 1966
15, 1966
15, 1967
1, 1967
15, 1967
15, 1968
15, 1968
2, 1968
15, 1969
31,1970
10, 1970
1, 1971
26, 1972
1, 1974
Guaranteed by the Province of British Columbia-
Pacific Great Eastern Railway Company—
90-day 4% notes.
British Columbia Power Commission—
3 % bonds	
3 % bonds	
314% bonds..
394% bonds-
4% bonds	
4% bonds	
4% bonds.	
Apr.   11, 1957
Oct. 1, 1967
Nov. 1, 1968
July 4, 1975
Sept. 15, 1991
May 21, 1992
June 15,1992
Sept. 15, 1992
Vancouver and Districts Joint Sewerage and Drainage
Board—
4% bonds - 	
4% bonds	
4% bonds	
5 % bonds	
5'/i % bonds  	
4% bonds	
4% bonds	
4!/2% bonds..
4V_% bonds..
May
May
May
Sept.
Sept.
Oct.
May
Sept.
Sept.
1, 1959
1,1960
1,1962
1, 1962
1, 1962
1, 1962
1, 1963
1, 1965
1, 1970
School District No. 2 (Cranbrook)—
334% serial bonds	
School District No. 3 (Kimberley)—
3V4 % serial bonds	
3%% serial bonds 	
School District No. 7 (Nelson)-
4V4 % serial bonds	
School District No. 9 (Castlegar)—
VA% serial bonds	
School District No. 13 (Kettle Valley)—
334% serial bonds	
Aug.   I, 1957-76
May    1, 1966-75
Aug.   1, 1957-76
July  15, 1970-71
May    1, 1966-75
Aug.   1, 1957-76
$390,000.00
180,000.00
655,000.00
18,000.00
490,000.00
320,000.00
862,000.00
25,000.00
240,000.00
700,000.00
200,000.00
50,000.00
538,000.00
295,000.00
276,000.00
220,000.00
35,000.00
343,000.00
100,000.00
90,000.00
153,000.00
415,500.00
200,000.00
711,000.00
950,000.00
1,340,000.00
250,000.00
75,000.00
225,000.00
800,000.00
325,000.00
724,500.00
520,000.00
969,000.00
275,000.00
208,000.00
671,000.00
1,000.00
6,000.00
1,000.00
3,000.00
3,000.00
1,000.00
11,000.00
5,000.00
1,000.00
140,000.00
50,000.00
150,000.00
127,000.00
110,000.00 1
140,000.00 I
I
$388,112.40
179,586.00
647,602.50
17,010.00
477,575.00
302,825.00
845,962.50
23,375.00
226,120.00
738,250.00
192,750.00
48,250.00
530,397.85
288,008.50
274,138.75
220,000.00
34,093.75
339,485.00
100,000.00
90,000.00
147,327.50
408,895.62
198,520.00
702,793.13
942,400.00
1,329,280.00
250,000.00
75,000.00
218,250.00
800,000.00
323,225.00
712,868.75
516,100.00
969,000.00
275,000.00
208,000.00
671,000.00
1,087.10
6,045.00
1,007.50
3,551.00
3,416.10
1,007.50
11,146.50
5,862.50
1,191.25
134,087.80
50,000.00
143,665.50
127,000.00
110,000.00
134,087.80
$388,112.40
179,586.00
650,774.96
17,073.28
482,342.52
310,203.22
848,623.40
23,975.53
230,562.20
732,792.58
197,126.45
49,255.76
534,278.87
291,621.09
275,076.16
220,000.00
34,536.25
341,119.14
100,000.00
90,000.00
149,857.37
411,294.85
199,167.15
705,719.77
945,392.48
1,333,487.62
250,000.00
75,000.00
220,453.14
800,000.00
323,956.99
716,966.50
516,437.80
969,000.00
275,000.00
208,000.00
671,000.00
1,013.67
6,006.87
1,001.75
3,161.23
3,100.88
1,001.56
11,040.08
5,339.14
1,097.17
134,087.80
50,000.00
143,665.50
127,000.00
110,000.00
134,087.80 U 14
BRITISH COLUMBIA
SCHEDULE No. 3—Continued
Trustees of the Municipal Superannuation Fund and the Minister of
Finance for the Province of British Columbia—Continued
Securities Held as at March 31st, 1957—Continued
Description
Date of Maturity
Par Value
Cost Price
Book Value
Guaranteed by the Province of British Columbia—Cont'd
School District No. 18 (Golden)—
July   15, 1970-73
Aug.   1, 1957-76
July   15, 1959-73
Oct.   15, 1960-74
July  15, 1959-73
Aug.   1, 1957-76
Aug.   1, 1957-76
Oct.   15, 1960-74
Sept. 15, 1957
Sept. 15, 1961
Sept. 15, 1957
Oct.   15, 1960-74
Aug.   1, 1960
Aug.   1, 1965
Aug.   1, 1966-70
Feb.    1, 1959-74
May    1, 1957-35
Sept.   1, 1959-71
May    1, 1966-75
Sept. 15, 1966-75
Sept. 15, 1957
Aug.   1, 1959-73
Aug.   1, 1957-76
Sept. 15, 1957
Sept. 15, 1957
Sept. 15, 1957
Feb.    1, 1960-74
May    1, 1966-75
Sept. 15, 1966-75
Oct.   15, 1959-73
Oct.   15, 1960-74
May    1, 1967-75
June    1, 1960-74
June    1, 1960-74
Oct.   15, 1960-74
May    1, 1966-75
Aug. 15, 1959-71
Oct.     1, 1960-69
$40,500.00
200,000.00
195,000.00
150,000.00
360,000.00
220,000.00
580,000.00
375,000.00
3,000.00
25,000.00
26,000.00
380,000.00
5,000.00
5,000.00
125,000.00
2,809,000.00
382,000.00
164,000.00
250,000.00
170,000.00
22,000.00
390,000.00
140,000.00
8,000.00
25,000.00
2,000.00
252,000.00
250,000.00
450,000.00
132,000.00
95,000.00
189,000.00
300,000.00
195,000.00
52,000.00
200,000.00
169,500.00
240,000.00
$40,811.85
191,554.00
195,000.00
147,705.00
360,000.00
210,709.40
555,506.60
369,262.50
2,970.00
23,257.50
25,740.00
374,186.00
5,183.50
5,271.00
125,000.00
2,875,854.20
388,597.14
165,262.80
250,000.00
169,014.00
21,780.00
390,000.00
134,087.80
7,920.00
24,750.00
1,980.00
259,383.60
250,000.00
447,390.00
133,016.40
93,546.50
189,000.00
296,250.00
192,562.50
51,204.40
200,000.00
169,500.00
247,032.00
1
$40,500.00
191,554.00
195,000.00
147,764.23
360,000.00
210,709.40
555,506.60
369,410.57
2,970.00
23,257.50
25 740 00
School District No. 20 (Salmon Arm)—
School District No. 21 (Armstrong-Spallumcheen)—
School District No. 24 (Kamloops)—
School District No. 28 (Quesnel)—
School District No. 31 (Merritt)—
School District No. 33 (Chilliwack)—
School District No. 34 (Abbotsford)—
School District No. 36 (Surrey)—
School District No. 38 (Richmond)—
374,336.81
5 000 00
School District No. 39 (Vancouver)—
5,000.00
125,000.00
2,809,000.00
382,000.00
164,000.00
250,000.00
School District No. 41 (Burnaby)—
School District No. 42 (Maple Ridge)—
School District No. 43 (Coquitlam)—
169,014.00
School District No. 45 (West Vancouver)—
21,780.00
School District No. 53 (Terrace)—
390,000.00
School District No. 55 (Burns Lake)—
134,087.80
7,920.00
School District No. 57 (Prince George)—
24,750.00
School District No. 58 (McBride)—
1,980.00
School District No. 60 (Peace River North)—
252,000.00
School District No. 61 (Greater Victoria)—
250,000.00
447,390.00
School District No. 62 (Sooke)—
4V4% serial bonds __.
School District No. 67 (Ladysmith)—
132,000.00
93,575.41
School District No. 68 (Nanaimo)—
189,000.00
296,275.51
School District No. 69 (Qualicum)—
192,579.08
51,220.58
School District No. 71 (Courtenay)—
200,000.00
169,500.00
School District No. 72 (Campbell River)—
240,000.00 MUNICIPAL SUPERANNUATION REPORT,  1956/57 U 15
SCHEDULE No. 3—Continued
Trustees of the Municipal Superannuation Fund and the Minister of
Finance for the Province of British Columbia—Continued
Securities Held as at March 31st, 1957—Continued
Description
Date of Maturity
Par Value
Cost Price
Book Value
Guaranteed by the Province of British Columbia—Cont'd
School District No. 74 (Quatsino)—
Feb.    1, 1960-74
Sept. 15, 1957
Sept.   1, 1959-68
Jan.  15,1961-65
July    2, 1962-76
Mar.   1, 1959-73
Sept.   1, 1962-76
Sept. 30, 1963-72
July  15, 1973-78
July    1, 1959-74
$192,000.00
24,000.00
30,000.00
42,000.00
221,000.00
119,000.00
46,500.00
42,500.00
25,000.00
165,000.00
$197,625.60
23,760.00
29,550.00
42,756.00
203,960.90
120,785.00
42,817.20
43,137.50
24,895.00
171,352.50
$192,000.00
School District No. 80 (Kitimat)—
23,760.00
Village of Campbell River—
29,613 40
Village of Comox—
42,000.00
Village of Dawson Creek—
203,960.90
Village of Fort St. John-
119,000.00
42,817.20
Village of Invermere—
4V4 % serial bonds  _	
Village of Quesnel—
4lA % serial bonds.      	
Village of Sidney—
33/4% serial bonds    _	
42,500.00
24,902.01
165,000.00
Totals _ —_ .
$26,071,000.00
$25,935,286.19
$25,884,771.93
SCHEDULE No. 4
Municipal Superannuation Fund
Comparative Statistics, April 1st, 1939, to March 31st, 1957
Number
of
Contributors
Contributions
Withdrawals
Allowances
Fiscal
Year
Employer
Employees
Number
Amount
Refunded
Number
Granted
during
Deaths
and
Expirations
Number
in Force
at End
Amount
Paid
Year
during
Year
of Year
1939/40 ■
3,515
$376,213.96
$273,204.70
71
$42,575.46
78
36
973
$329,309.38
1940/41..	
3,502
385,310.30
279,081.09
99
38,666.49
99
36
1,036
339,671.98
1941/42	
3,460
403,590.01
277,946.17
128
46,504.88
116
34
1,118
369,231.07
1942/43	
3,295
398,961.01
267,876.88
191
68,582.55
193
53
1,258
408,424.19
1943/44	
3,340
411,337.12
278,996.62
125
45,792.56
120
44
1,334
460,091.94
1944/45...	
3,416
431,251.30
298,036.94
116
53,755.08
130
46
1,418
492,423.87
1945/46	
3,949
505,050.16
351,672.80
314
74,102.47
215
51
1,582
551,639.04
1946/47	
4,209
579,347.60
403,783.92
415
79,892.69
171
48
1,705
628,619.36
1947/48	
4,707
693,553.87
474,499.19
499
99,412.03
149
42
1,812
702,630.14
1948/49	
5,352
895,590.07
574,025.89
441
88,140.76
134
42
1,904
767,067.05
1949/50	
5,866
1,062,852.82
682,245.56
458
75,505.30
115
65
1,954
827,006.67
1950/51 __
6,246
1,186,109.17
887,790.33
662
129,164.91
130
68
2,016
918,709.14
1951/52	
6,308
1,294,156.71
1,007,976.39
786
197,308.22
88
80
2,024
954,168.05
1952/53	
6,414
1,428,109.03
1,142,396.93
740
213,204.00
103
76
2,051
976,483.93
1953/54...	
6,756
1,660,960.41
1,405,294.40
708
210,664.96
91
74
2,068
1,137,286.29
1954/55	
7,206
1,756,555.37
1,527,399.79
748
245,905.28
103
96
2,075
1,160,791.16
1955/56.. __
7,438
1,796,578.89
1,647,357.74
893
337,027.58
101
83
2,093
1,185,087.95
1956/57	
7,537
1,834,553.99
1,742,724.50
1,093
452,178.25
94
92
2,095
1,213,543.98
Totals...
$17,100,081.79
$13,522,309.84
|$2,498,383.47
1
_..
	
$13,422,185.19 U 16
BRITISH COLUMBIA
SCHEDULE No. 5
Municipal Superannuation Fund
Comparative Statistics, April 1st, 1945, to March 31st, 1957
Subdivided according to Sex of Contributor
Fiscal Year
Number of
Contributors
Male    Female
Number of
Refunds
Granted
Male    Female
Allowances
Number of
Allowances
Granted
Male   Female
Number of
Deaths and
Expirations
Male   Female
Number of
Allowances in
Force at End
of Year
Male   Female
1945/46—
Maximum
Maximum
1946/47—
Maximum
Maximum
1947/48—
Maximum
Maximum
1948/49—
Maximum
Maximum
1949/50—
Maximum
Maximum
1950/51—
Maximum
Maximum
1951/52—
Maximum
Maximum
1952/53—
Maximum
Maximum
1953/54—
Maximum
Maximum
1954/55—
Maximum
Maximum
1955/56—
Maximum
Maximum
1956/57—
Maximum
Maximum
retirement age 65-
retirement age 60-
retirement age 65	
retirement age 60.—
retirement age 65„
retirement age 60-
retirement age 65_
retirement age 60-
retirement age 65-
retirement age 60_
retirement age 65	
retirement age 60—
retirement age 65_
retirement age 60-
retirement age 65..
retirement age 60-
retirement age 65-
retirement age 60-
retirement age 65-
retirement age 60-
retirement age 65-
retirement age 60-
retirement age 65-
retirement age 60_
1,987
1,089
2,184
1,156
2,427
1,343
2,762
1,419
3,066
1,509
3,105
1,637
3,116
1,653
3,190
1,667
3,376
1,711
3,689
1,738
3,834
1,787
4,020
1,840
873
869
937
1,171
1,291
1,504
1,539
1,557
1,669
1,779
L817
1,677
87
55
142
56
195
50
159
37
140
29
266
28
300
77
223
69
233
44
193
46
315
56
401
50
172
217
254
245
289
368
409
448
431
509
522
642
129
41
110
38
108
31
98
27
81
26
86
29
63
15
69
24
62
17
63
26
60
25
51
25
45
23
10
10
10
12
14
16
18
40
10
37
7
36
3
38
3
49
14
56
6
62
14
63
6
57
16
79
12
60
14
69
13
5
~9
10
1,143
323
1,216
354
1,288
382
1,348
406
1,380
418
1,410
441
1,411
442
1,417
460
1,422
461
1,406
475
1,421
474
1,403
486
116
135
142
150
156
165
171
174
185
194
19S
206 MUNICIPAL SUPERANNUATION REPORT, 1956/57 U 17
SCHEDULE No. 6
Municipal Superannuation Fund
Comparative Statistics, April 1st, 1946, to March 31st, 1957—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
u
■__
c
_6
•a
6
u
e
c_
u
es
3
O
3
g
o
n
•a
o
2
d
<
d
E
o
H
o
3
u
c
-_
■o
i>
4>
C
c.
i-
c.
3
0
a;
c
O
•a
a)
eg
•5
o
2
1
<
d
6
<o
H
3
a.
"3)
a
Guaranteed1
__
3
g
'o
Ig
■9
o
S
1
d
S
_>
H
a.
3
u
"to
g
_5
■o
_>
u
C
3
O
4>
3
c
o
•a
a
iS
-3
o
s
i
<
(a)
(b)
a
E
a>
H
1946/47—
Normal retirement—
Disability	
Death	
330
42
183
528
27
309
67
93
3
	
43
3
77
2
32
1
2
21
1
5
6
4
9
2
-
—
352
44
189
595
29
332
66
95
3
	
Totals   	
555
555
376|    96
57
79
331    2| ....
27-|    6|    4| 11| .._
—
585| 624| 398]    98
1947/48—
Normal retirement—
Disability—	
Death  	
352
44
189
595
29
332
66
95
3
	
12
8
40
2
1
17     1
3   ___
-| ....
65
1
16
4
4
6
4     8
-
348
40
193
625
31
341
69
96
3
65
1
Totals	
585
624
398|    98
20
42
20|    1| 66
24|    6|    4|    8| -_.| -
581| 656
410|    99|    66
1948/49—
Normal retirement-
Disability _.	
Death  	
348
40
193
625
31
341
69
96
3
65
1
6
11
18
2
19
1
_   77
...J    1
-| __
10
7
5     3
11    1
... | ....
11     2     1
_...i z\:::
344
40
197
635
31
349
68
94   141
3      2
Totals-   -
581
656
410|    99
66
17
20
19| —| 78
17|    6|    4| 12|    2|    1
5811 666| 417
971 143
1949/50—
Normal retirement-
Disability _	
Death  	
344
40
197
635
31
349
68
94
3
141
2
9
17
14
13
'-
61
1
23
5
5
10
1
9     4
2     5
-     -
1
-
330   630   358
35     28|    63
2091 —   __.
93
3
202
3
Totals   ._	
581
666
417|    97
143
26
14
131 -
62
33]  11|  11|    9|    1| ....
574| 658| 421|    96| 205
1950/51—
Normal retirement	
Disability— 	
Death	
330
35
209
630
28
358
63
93
3
202
3
5
14
12
1
16
3
-
79
1
14| 19
1|    1
5| ....
15
1
10
2
-
-
321
34
218
6081 364
27     64
93
3
	
281
3
	
Totals	
574
658
421)    96
205
19
13
19| ... | 79
201 20
16| 12| -
—
573| 635| 428|    96| 284
1951/52—
Normal retirement	
Disability. 	
Death 	
321
34
218
608
27
364
64
93
3
281
3
6
1
11
12
-
....
7
4
_
47
24
1
5
11
1       1
26     6| —
2     l|    1
-| _...| ....
3
1        I
303| 583| 365
34     25     67
224| _| 	
93
2
325
3
573
635
428|    96
284
18
12
11
_| 47
30|  11
28)    7|    1
3
5611 6081 432
95| 328
1952/53—
Normal retirement-
303
34
224
583
25
365
67
93
2
325
3
8
1
14
19
9
52
16] 20
1| .._
9| -
8
9|    3
11 —
9
295
34
229
574
25
365
66
90
2
368
3
Death 	
Totals	
561
608
432|    95
328
23
19
9
_| 52
26| 20|    8| 10|    3|    9
558
599
431|    92
371
1953/54—
Normal retirement	
295
34
229
574
25
365
66
90
2
368
3
3
8
3
6
	
69
2
19   17
2| ....
9| -
5
7
2
3
9
1
279
32
555
25
364
64
87
2
428
2
Death  	
2281 ___
2
Totals 	
558
599
431|    92
371
11
3
6| -| 71
30|  17|    5|    9|    3| 10
539| 580| 428|    89| 432
1954/55—
Normal retirement	
279
32
228
555
25
364
64
87
2
428
2
2
2
6
6
-
2
—
82
5
13   27
-|    5
6| -
12
11
10
4
7
1
268
32
228
522
20
—
355
54
83
2
503
1
Death	
7
Totals	
539
580
428|    89
432
8
6
21 —| 87
19| 32| 12| 21|    4
8
528
542| 409|    85| 511
1955/56—*
Normal retirement-
268
32
228
522
20
355
54
83
2
503
1
7
3
1
13
4
z
4
1
71
4
17
1
7
23
11
2
7
2
2
11
195
34
233
384
18
329
54
77
2
755
1
Death	
11
Totals	
528
542
409|    85
511
17
4
5| -| 75
25| 23| 13|    9|    2| 11
462
402
383
79| 767
1956/57—
Normal retirement-
195
34
233
384
18
329
54
77
2
755
1
11
1
12
6
5   —
1   ....
64
1
4
1      1      I
14| 22   12| 12
3|    2     1     2
9| -| _..| _
1   13
—     1
182
31
236
356
15
322
53
76
2
806
1
Death	
15
Totals	
462
402
383|    79
767
13
6
6| -| 69
26| 24| 13| 14|    1| 14
449
371
375
781 822
1 Guaranteed:   (a) Superannuant died after expiration of guaranteed period;  (6) guaranteed period expired, super-
annuant having died previously.
2 From year 1955-56 the figures are based on the actual count by plan in force. U 18 BRITISH COLUMBIA
SCHEDULE No. 7
Municipal Superannuation Fund
Number of Contributors and Pensioners by Employer, as at March 31st, 1957
Contributors
Account
"A"
Account
"B"
Pensioners
Total
Contributors
and
Pensioners
City of—
Armstrong-
Chilliwack..
Courtenay...
Cranbrook-
Duncan	
Enderby	
Fernie	
Grand Forks..
Kamloops	
Kelowna—
Kimberley..
Langley	
Merritt	
Nanaimo	
Nelson	
New Westminster-
North Vancouver—
Penticton	
Port Alberni	
Port Coquitlam..
Port Moody	
Prince Rupert	
Revelstoke	
Rossland	
Salmon Arm	
Trail _.	
Victoria _
District of—
Burnaby „
Chilliwhack-
Coldstream—
Creston....	
Esquimau	
Fruitvale	
Glenmore	
Greater Vancouver Water District and Greater Vancouver
Sewerage and Drainage District  	
Greater Victoria Water District	
Hope
Langley	
Maple Ridge	
Mission City	
North Cowichan —
North Kamloops Village-
North Vancouver	
Oak Bay. 	
Oliver	
Powell River..
Quesnel	
Richmond	
Saanich 	
Central Saanich-
Salmon Arm	
Spallumcheen	
l1
f
2
23
1
10
 —
3
1
7
1
24
4
1
l1
f
1
43
1
15
	
2
	
2
8
47
12
57
31
52
188
12
86
21
(
3
49
27
8
1
10
3
4
3
23
3
12
	
4
1
4
3
f
42
.
li
545
.
2,574
41
(
4
33
87
362
19
263
7
1
1
2
3
28
2
	
2
25
114
2
15
4
1
2
21
4
5
5
18
9
6
114
12
57
1
	
28
	
1
2
2
1
50
l1
.
12
120
2
1
	
3
2
7
2
3
1
1
21
14
2
20
34
58
60
2
4
1
14
4
1
1
935
12
211
32
4
1
6
2
46
3
3
1
1
3
22
22
26
5
li
32
13
6
9
2 .
49
li
58
16
2
4
75
103
3i
298
158
2i
60
37
15
8
40
19
5
6
53
l1
4,054
41
49
660
314
11
3
2
37
2
4
185
20
5
26
5
11
21
9
142
91
1
28
4
58
li
158
2
2
1
1 Inactive accounts, but eligible for pension benefits. MUNICIPAL SUPERANNUATION REPORT,  1956/57 U 19
SCHEDULE No. 7—-Continued
Municipal Superannuation Fund—Continued
Number of Contributors and Pensioners by Employer, as at March 31st, 1957—Continued
Contributors
Account
"A"
Account
"B"
Pensioners
Total
Contributors
and
Pensioners
District of—Continued
Summerland	
Surrey	
Warfield	
West Vancouver-
University Endowment Lands	
North Shore Union Board of Health..
Hospitals-
Royal Jubilee Hospital_
Vancouver General Hospital-
School District of—
Burnaby, No. 41 _
Campbell River, No. 72..
Castlegar, No. 9	
Chilliwack, No. 33	
Cowichan, No. 65	
Creston, No. 5	
Fernie, No. 1	
Howe Sound, No. 48	
Kamloops, No. 24	
Kimberley, No. 3	
Kitimat, No. 80	
Merritt, No. 31	
Mission City, No. 75	
Nelson, No. 7	
New Westminster, No. 40..
North Vancouver, No. 44...
Penticton, No. 15	
Powell River, No. 47	
Princeton, No. 17	
Prince Rupert, No. 52	
Richmond, No. 38	
Saanich, No. 63 	
Salmon Arm, No. 20	
Slocan, No. 8... 	
Sooke, No. 62 	
South Okanagan, No. 14-
Surrey, No. 36 	
Terrace, No. 53	
Trail, No. 11	
Vancouver, No. 39	
Vanderhoof, No. 56-
Vernon, No. 22	
Greater Victoria, No. 61-
West Vancouver, No. 45„
Williams Lake, No. 27	
Totals	
20
9
2
8
4
2
53
145
2i
1
2
5
1
6
6
1
4
1
2
4
1
4
2
7
2
12
7
2
9
54
12
1
2
1,310
14i
57
3
82
20
9
179
773
65
4
2
3
9
7
2
6
5
8
~4
11
19
20
5
5
1
2
28
1
3
1
1
5
16
323
l1
1
7
63
8
1
6,227
21
28
7
63
161
14
2
7
12
3
3
117
3
31
2
]     2,095
20
81
5
118
31
11
295
1,079
21
80
6
7
5
1
15
10
8
11
10
9
3
8
14
30
34
8
11
1
4
31
9
5
1
13
12
2
28
494
li
4
10
106
11
3
f     9,632
\ 161
1 Inactive accounts, but eligible for pension benefits.
Number of non-active unclaimed moneys accounts at March 31st, 1957,72.
" U 20 BRITISH COLUMBIA
MUNICIPAL SUPERANNUATION FUND (OVER-AGE AGREEMENTS)
Statement of Revenue and Expenditure for the Fiscal Year
Ended March 31st, 1957
REVENUE
Contributions as per requirements of the agreements entered into pursuant
to section 14 (2) (Z>) of the "Municipal Superannuation Act"—
Employees, section 6  $172,085.82
Employers, section 8—
Regular    $224,049.43
Special Agreement bonus contributions  217.76
    224,267.19
$396,353.01
Net interest on investments and bank interest       52,750.56
$449,103.57
EXPENDITURE
Refunds—
Section 20        $5,351.79
Section 23  ,       22,370.64
       27,722.43
Net increase of ledger assets  $421,381.14
Balance-sheet as at March 31st, 1957
ASSETS
Cash in bank	
Trustees'            General
Account             Account
Total
$503.90 $26,025.13
$26,529.03
Accounts receivable—contributions due from municipalities,
hospitals, school districts, etc         38,723.84 38,723.84
Investments  at cost or  par — net  after  amortization  of
premiums and discounts (see Schedule No. 9)     1,670,234.83      1,670,234.83
(Par value, $1,691,000; market value, $1,537,674.)
Accrued interest on investments  13,096.84   13,096.84
$1,683,835.57 $64,748.97 $1,748,584.54
LIABILITIES
Empolyees' Retirement Annuity Account  $667,401.93
Employer Service Pension Accounts (see Schedule No. 8)  1,080,099.55
Vancouver Agreement Bonus Account for Firemen and Policemen  1,035.05
Accounts payable   48.01
$1,748,584.54
Approved.
R. A. PENNINGTON,
Superannuation Commissioner.
G. S. SOUTAR,
Accountant.
COMPTROLLER-GENERAL'S CERTIFICATE
I certify that the accounts of the Municipal Superannuation Fund (Over-age Agreements) for the
year ended March 31st, 1957, have been examined under my direction.
I further 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 Municipal Superannuation Fund (Over-age Agreements) 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 22nd, 1957. MUNICIPAL SUPERANNUATION REPORT,  1956/57
SCHEDULE No. 8
Municipal Superannuation Fund (Over-age Agreements)
Employer Service Pension Accounts as at March 31st, 1957
U 21
Employer
Number of Contributors
Males by Retirement Age
Age 65
Age 60
Females
Total
Credit
Balance
City of Cranbrook	
City of Kamloops.	
City of Kelowna	
City of Kimberley	
City of Nanaimo	
City of Penticton	
City of Port Moody_
City of Revelstoke—
City of Vancouver-
City of Vernon	
City of Victoria-
District of Burnaby	
District of Central Saanich.
District of Chilliwhack	
Village of Creston..
Village of Mission City	
District of North Cowichan..
District of Oak Bay	
Village of Oliver	
District of Powell River—	
Village of Quesnel 	
University Endowment Lands-
District of West Vancouver—
Greater Vancouver Water District	
Greater Vancouver Sewerage and Drainage Board _
Royal Jubilee Hospital  _ —
Vancouver General Hospital	
Campbell River School District, No. 72-
Castlegar School District, No. 9	
Chilliwack School District, No. 33	
Creston School District, No. 5	
Greater Victoria School District, No. 61-
Howe Sound School District, No. 48	
Kimberley School District, No. 3 __
Kitimat School District, No. 80.	
Mission School District, No. 75— 	
Nelson School District, No. 7	
Penticton School District, No. 15	
Powell River School District, No. 47	
Salmon Arm School District, No. 20	
Sooke School District, No. 62-
Southern Okanagan School District, No. 14„
Terrace School District, No. 53  _
Vanderhoof School District, No. 56 	
Vernon School District, No. 22..
West Vancouver School District, No. 45-
Totals. _ 	
532
3
2
4
1
9
2
3
2
49
2
29
2
19
1
2
5
2
4
5
4
3
4
4
2
1
1
1
729
21
1
114
4
79
209
3
4
3
2
8
3
1
9
655
2
1
1
3
2
3
2
4
1
9
2
3
6
49
6
108
1
1
2
23
2
2
5
2
4
5
6
3
4
4
2
1
1
1
959
$7,611.97
2,359.49
6,974.95
3,117.30
4,560.48
2,372.61
1,765.86
8,366.25
815,459.51
4,546.51
4,454.92
1,447.11
1,333.58
3,034.88
295.06
1,897.42
411.02
1,945.33
165.07
1,415.36
1,444.57
1,462.46
4,578.21
6,306.90
1,849.78
15,598.32
136,569.69
1,026.48
946.22
440.29
875.47
11,711.31
210.66
359.51
1,363.78
1,275.51
4,173.57
3,425.46
2,558.01
3,118.52
622.97
4,612.88
189.64
892.05
(!)
952.61
$1,080,099.55
i Credit should be $108.18, to be transferred from regular Account " B " in 1957/58. U 22
BRITISH COLUMBIA
SCHEDULE No. 9
Trustees of the Municipal Superannuation Fund (Over-age Agreements) and
the Minister of Finance for the Province of British Columbia
Securities Held
as at March 31st, 1957
Description
Date of Maturity
Par Value
Cost Price
Book Value
Government of Canada—
Apr. 18, 1957
Apr. 18, 1957
Oct.     1, 1957
Jan.     1, 1959
June    1, 1960
Feb.    1, 1962
Oct.     1, 1963
Sept.   1, 1966
Jan.   15, 1978
Feb.     1, 1974
June 15, 1964
July     1, 1964
June 15,1968
Dec. 15, 1969
Feb.    1, 1974
Oct.     1. 1967
Nov.    1, 1968
Sept. 15, 1991
May 21, 1992
June 15,1992
Sept. 15, 1992
July   15, 1970-71
June    1, 1966-67
Aug.   1, 1957-76
July   15, 1967-69
Oct.   15, 1960-74
Aug.   1, 1959-61
Oct.     1,1967-73
Oct.   15, 1960-61
Feb.    1, 1962-74
Sept. 15, 1966
Sept. 15, 1966-75
Jan.   15, 1958-60
Dec. 31, 1957-74
Sept.   1, 1962-76
Sept. 30, 1958-62
Mar. 15, 1958-65
Apr. 15, 1966-75
July    1, 1957-76
June 30, 1971-75
$75,000.00
22,000.00
50,000.00
90,000.00
92,000.00
55,000.00
36,000.00
4,000.00
73,000.00
90,000.00
3,000.00
5,000.00
26,500.00
12,500.00
10,000.00
9,000.00
16,000.00
65,000.00
15,000.00
14,000.00
62,000.00
28,000.00
30,000.00
100,000.00
36,000.00
108,000.00
75,000.00
7,000.00
38,000.00
65,000.00
7,000.00
85,000.00
14,000.00
23,000.00
50,500.00
17.500.00
16,000.00
90,000.00
56,000.00
20,000.00
$74,637.00
21,949.40
49,375.00
88,977.50
86,940.00
53,637.50
34,093.75
3,905.00
71,631.25
95,400.00
2,959.40
4,881.50
24,318.73
12,196.88
9,700.00
8,592.50
14,982.62
65,000.00
15,000.00
14,000.00
62,000.00
28,000.00
29,625.00
95,777.00
36,277.20
106,347.60
75,000.00
7,621.60
37,418.60
66,904.50
6,959.40
84,507.00
13,822.20
23,623.30
46,500.40
17,718.75
15,680.00
92,169.00
54,320.00
20,396.00
$74,637.00
21,949.40
49,803.93
2% bonds  _ _	
3% bonds       	
89 414.87
87 263.41
54,154.33
3% bonds                                    _.
34,908.23
3 942.02
71,854.65
Guaranteed by Government of Canada—
Canadian National Railways—
94,651.65
2 980.18
4,942.73
25,006.42
12,296.42
9,797.91
Guaranteed by Province of British Columbia—
British Columbia Power Commission—
8,738.75
15,323.24
65,000.00
15,000.00
14,000.00
62,000.00
School District No. 7 (Nelson) —
28,000.00
School District No. 9 (Castlegar)—
29,627.66
School District No. 10 (Arrow Lakes) —
95,777.00
School District No. 18 (Golden) —
36,000.00
School District No. 19 (Revelstoke) —
106,390.80
School District No. 39 (Vancouver) —
75,000.00
School District No. 40 (New Westminster) —
7,000.00
School District No. 43 (Coquitlam)—
37,441.55
School District No. 44 (North Vancouver) —
65,000.00
School District No. 67 (Ladysmith)—
6,959.40
School District No. 68 (Nanaimo) —
84,507.00
Village of Comox—
13,822.20
Village of Dawson Creek—
23,000.00
Village of Fort St. John-
46,500.40
Village of Invermere—
17,500.00
Village of Lake Cowichan—
15,723.68
Village of Terrace—
90,000.00
Village of Warfield—
54,320.00
Village of Westview—
3M>% serial bonds —
20,000.00
Totals                                        	
$1,691,000.00
$1,672,845.58
$1,670,234.83 MUNICIPAL SUPERANNUATION REPORT,  1956/57 U 23
SCHEDULE No. 10
Municipal Superannuation Fund (Over-age Agreements)
Comparative Statistics, April 1st, 1948, to March 31st, 1957
Number of
Contributors
Contributions
Withdrawals
Number
of
Fiscal Year
Allow
Male
Female
Employer
Employees
Male
Female
Amount
Refunded
ances
Granted1
1948/49
18
19
$10,617.72
$3,586.93
1949/50                          	
20
21
9,742.81
6,910.38
1
$153.82
1950/51	
21
21
8,735.41
5,781.15
2
1
578.53
1951/52  	
437
55
94,708.65
60,160.67
16
2
2,859.25
1952/53	
467
92
122,932.92
75,807.14
33
11
6,276.14
1953/54	
547
132
147,258.20
95,889.57
25
20
6,317.66
1954/55—
Maximum retirement age 65—
620
) 178,049.96
124,061.05
22
30
13,058.46
1
Maximum retirement age 60—
9
152
1955/56—
Maximum retirement age 65„.
648
| 195,373.74
139,803.32
16
12,152.15
1
Maximum retirement age 60...
19
164
1
1956/57—
Maximum retirement age 65—
729
| 224,267.19
172,085.82
50
20
27,722.43
Maximum retirement age 60—
21
209
)
Totals  	
$991,686.60
$684,086.03
$69,118.44
1 Allowances paid from Municipal Superannuation Fund.    Present value transferred to corresponding accounts in
the Municipal Superannuation Fund.
Printed by Don McDiarmid, Printer to the Queen's Most Excellent Majesty
in right of the Province of British Columbia.
1958
260-158-3525 

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