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Nineteenth Annual Report of the Business Done in Pursuance of the MUNICIPAL SUPERANNUATION ACT for the… British Columbia. Legislative Assembly 1959

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Full Text

 PROVINCE OF BRITISH COLUMBIA
Nineteenth Annual Report
of the Business Done in Pursuance of the
MUNICIPAL
SUPERANNUATION ACT
for the
YEAR ENDED MARCH 31st
1958
Printed by Don McDiarmid, Printer to the Queen's Most Excellent Majesty
in right of the Province of British Columbia.
1959  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, 1958.
Provincial Secretary's Office,
Victoria, B.C., January 27th, 1959.
WESLEY D. BLACK,
Provincial Secretary. 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, 1958.
I have the honour to be,
Sir,
Your obedient servant,
W. H. FORREST,
Superannuation Commissioner.
January 26th, 1959. Municipal Superannuation Report, 1957/58
REPORT OF THE BUSINESS DONE IN PURSUANCE OF THE "MUNICIPAL
SUPERANNUATION ACT " DURING THE FISCAL YEAR ENDED MARCH
31st, 1958.
Section 3.—The following employers adopted the Act during the year pursuant to
the provisions of clause (b) oi this section effective from dates shown:—
Employer Effective Date
City of White Rock  April 15th, 1957
District of Kent April 1st, 1957
Section 4.—Superannuation-allowance payments pursuant to this section amounted
to $95,745.48. As at March 31st, 1958, there were 288 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 $2,011,916.11, and
employee contributions made under Over-age Agreements amounted to $222,379.53.
As at March 31st, 1958, there were 8,054 regular contributors and 1,139 contributors
under Over-age Agreements.
Section 8.—Regular employer contributions amounted to $1,918,074.12, and
employer contributions made under Over-age Agreements amounted to $272,989.47.
Extra employer contributions totalling $36,629.57, being one-half of 1 per cent of salaries
for firemen and policemen 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 $2,851.52, in accordance with the provisions of subsection (4) (c) of this section.
Outstanding certificates of loan were reduced by the amount of $116,135.90, in accordance with the provisions of subsection (6) of this section.
Section 14.—Superannuation allowances were granted to sixty-four 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 four
employers under the Act, whereby the Act was made to apply to a total of thirty-eight
employees who entered their service after the maximum eligible age of regular contributors.
Section 19.—No 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 nine contributors who died while still in service. Refunds amounting to $941 and
$3,703.84 respectively were made in the case of two regular contributors and five overage contributors who died while still in service. V 6 BRITISH COLUMBIA
Section 23.—Refunds amounting to $333,454.38 and $16,583.28 respectively were
made in the case of 800 regular contributors and forty-six over-age contributors who left
the service of their employers.
Section 28.—Administration expenses amounting to $32,519.42 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, $2.83 for 1956/57,
and $2.94 for 1957/58.
Section 33.—The securities held by the Trustees on March 31st, 1958, are set out
in Schedules No. 3 and No. 9 of this Report. During the year $10,679,000 par-value
bonds were purchased, the average yield being 4.55 per cent; $4,834,000 par-value bonds
were sold at an average yield of 3.80 per cent; and $1,759,800 par-value bonds matured,
resulting in a net increase of $4,085,200 par-value bonds held by the Trustees between
March 31st, 1957, and March 31st, 1958. 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 possible at the
time of purchase.
Section 38.—An actuarial valuation as at March 31st, 1957, was made and was used
as the basis for a complete revision of the plan. A new " Municipal Superannuation Act"
was passed during the 1958 Session of the Legislature, revising the benefit and contribution basis and amalgamating the Municipal Superannuation Fund (Over-age Agreements) with the main Fund, with effect from April 1st, 1958.
W. H. FORREST,
Commissioner of Municipal Superannuation. MUNICIPAL SUPERANNUATION REPORT, 1957/58
MUNICIPAL SUPERANNUATION FUND
Statement of Revenue and Expenditure for the Fiscal Year
Ended March 31st, 1958
V 7
REVENUE
Contributions as per requirements of the " Municipal Superannuation Act "•—
Employees, section 6  	
Employers, section 8—
Account "A" (Schedule No. 1)    $919,174.73
Account " B " (Schedule No. 2)_ 998,899.39
$2,011,916.11
Special Agreement bonus contributions..
36,384.15
Transferred from Over-age Agreement Account pursuant to section 5 (5) of the Agreement in respect of two allowances granted during year	
Interest on investments and bank interest	
1,954,458.27
12,006.36
1,114,164.05
$5,092,544.79
EXPENDITURE
Superannuation allowances—
Paid from Employers' Service Pension Account "A"—
Allowances pursuant to section 4  $95,745.48
Service Pensions Account "A"  779,660.56
Paid from Employers' Service Pension Account " B "_.
Paid from Employees' Retirement Annuity Account	
Refunds—
Section 6 (5)
Section 20 ....
Section 23 .	
$875,406.04
8,348.14
321,832.21
$1,205,586.39
$1,359.86
941.00
333,454.38
Administration expense, sections 27 and 28.
Net increase of ledger assets	
335,755.24
4,350.00
1,545,691.63
$3,546,853.16 V 8 BRITISH COLUMBIA
MUNICIPAL SUPERANNUATION FUND
.,..     :       Balance-sheet as at March 31st, 1958
ASSETS
Trustees' General
Account Account Total
Cash in bank  $10,018.23    $64,154.97         $74,173.20
Accounts receivable—contributions due from municipali-
■   ties, hospitals, school districts, etc    — ...-     342,159.10 342,159.10
Investments at cost or par — net after amortization of
premiums and discounts (see Schedule No. 3)     29,218,410.74      29,218,410.74
(Par value, $29,584,700;  market value,
$27,874,369.)
British Columbia Government certificates of loan       2,696,660.97        2,696,660.97
Accrued interest on investments .-.  260,903.47   260,903.47
$32,185,993.41 $406,314.07 $32,592,307.48
LIABILITIES
Employees' Retirement Annuity Account  $16,341,661.98
Employer Service Pension Accounts—
Account "A" (see Schedule No. 1)   $7,682,863.97
Account " B "      8,456,896.64
     16,139,760.61
Vancouver Agreement Bonus Account for Firemen and Policemen  93,877.27
Victoria Agreement Bonus Account for Policemen    10,610.24
Victoria Agreement Bonus Account for Firemen    2,882.28
Sundry accounts payable    3,515.10
$32,592,307.48
Approved.
W. H. FORREST,
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,
1958, have been examined under my direction.
The liabilities in respect of Employees' Retirement Annuity Account and Employers' Service
Pension Accounts are stated at book value. Under the terms of section 38 (1) of the "Municipal
Superannuation Act," chapter 320, R.S.B.C. 1948, an actuarial valuation was made as at March 31st,
1957. This valuation showed an actuarial surplus in both Employers' Service Pension Account " B "
and Employees' Retirement Annuity 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., January 23rd, 1959. MUNICIPAL SUPERANNUATION REPORT, 1957/58
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H V  12
BRITISH COLUMBIA
SCHEDULE No. 2
Service Pension Account " B "
Contributions by Employer for Year Ended March 31st, 1958
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  L_
Victoria  _■—
White Rock 	
District or Village of-
Burnaby 	
Central Saanich	
Chilliwhack 	
Coldstream ...
Creston 	
Esquimalt ...
Glenmore 	
Hope —
Langley 	
Maple Ridge
Town of Mission City _______	
North Cowichan —	
North Kamloops 	
North   Shore  Union  Board  of
Health    —
North Vancouver ,_'.	
Oak Bay	
Powell River	
Quesnel 	
Richmond   	
$543.46
270.60
3,796.51
1,768.44
336.12
1,277.15
191.52
4,433.78
6,298.60
2,012.44
217.20
278.40
7,470.17
10,117.37
29,569.55
15,569.36
8,314.17
1,162.90
1,304.84
1,099.00
3,933.77
2,355.85
260.07
764.04
8,023.69
422,876.22
7,242.25
58,391.18
426.97
43,682.76
292.32
784.87
259.67
376.08
5,750.51
402.48
402.47
3,170.12
373.92
704.66
2,081.90
119.21
998.12
22,644.29
10,228.72
535.01
552.86
8,164.22
District or Village of—Continued
Saanich   	
Salmon Arm 	
Summerland    	
Surrey  	
Warfield  .	
West Vancouver ...	
Greater Vancouver Water District  1	
Greater    Vancouver    Sewerage
and Drainage Board 	
Greater Victoria Water District
University Endowment Lands
Hospitals—■
Royal lubilee	
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 ...:..
Terrace. No. 53  	
Trail, No. 11 	
Vancouver, No. 39 	
Vanderhoof, No. 56 i	
Vernon, No. 22 ____._	
West Vancouver, No. 45	
Williams Lake, No. 27 ....	
£19,968.42
198.12
17.06
9,219.23
192.12
14,781.17
14,389.18
6,661.03
2,175.48
3,853.94
21,651.53
111,108.49
9,669.71
714.72
285.36
389.04
1,070.60
948.30
11,097.83
427.65
612.78
398.69
1,524.66
536.75
1,926.23
2,626.08
2,936.98
630.95
669.59
334.80
184.80
4,102.11
166.52
1,671.49
171.00
177.96
822.85
54.30
2,400.32
42,527.92
245.82
1,443.51
1,735.20
349.29
$998,899.39 MUNICIPAL SUPERANNUATION REPORT, 1957/58
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, 1958
V  13
Description
Date of Maturity
Par Value
Book Value
Government of Canada—
3% bonds 	
3% bonds ... ......
June 1, 1960	
February 1, 1962.	
February 1, 1974	
February 1, 1981.... .,,'.'
October 15, 1962	
October 15, 1963 	
October 15, 1966	
June 15, 1968      	
June 15, 1968....	
July 2, 1968	
$18,000.00
490,000.00
700,000.00
1,200,000.00
200,000.00
50,000.00
35,000.00
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
325,000.00
724,500.00
520,000.00
969,000.00
235,000.00
194,000.00
658.000.00
1,900,000.00
745,000.00
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
133,000.00
50.000.00
142,000.00
196,000.00
127,000.00
110,000.00
133,000.00
40,500.00
86,000.00
190,000.00
195,000.00
542,000.00
150,000.00
$17,365.63
483,924.75
Guaranteed by Government of Canada—
Canadian National Railway Company—
3%% bonds ;.
730,845.40
4% bonds   	
Province of British Columbia—
2%% bonds	
2%% bonds - -	
2%% bonds	
1,174,509.10
197,644.92
49,369.52
34,584.86
2%% bonds _                  ..   .
150,137.80
3% bonds .. 	
411,670.04
199,241.15
3% bonds..... ...  ..	
December 15, 1969	
July 31, 1970	
August 10, 1970	
706,135.24
945,738.02
1,333,975.01
2?4% bonds  	
2%% bonds   .
October 1, 1971	
September 26, 1972	
250,000.00
75.000.00
3% bonds  ..           	
February 1, 1974... 	
October 1, 1967 _	
November 1, 1968
220,723.17
Guaranteed by Province of British Columbia—
British Columbia Power Commission—
3% bonds  „.
}           3% bonds 	
3>/4% bonds              	
324,056.29
717,616.58
July 4, 1975	
September 15, 1991
May 21, 1992  	
June 15, 1992 	
September 15, 1992
September 15, 1992	
December 15, 1987	
516.632.88
3%% bonds   .	
969,000.00
4% bonds	
235.000.00
194.000.00
4% bonds   -	
5% bonds.... ;. :.
658,000.00
1,825,265.32
Pacific Great Eastern Railway Company—
4%% bonds
734,827.99
Vancouver and Districts Joint Sewerage and Drainage
Board—
May 1, 1959	
May 1, 1960	
1,007.12
6,004.67
May 1, 1962 	
1,001.42
September 1, 1962	
September 1, 1962	
October 1, 1962	
May 1, 1963	
3.131.49
5Va% bonds     	
3,082.27
1,001.21
11.033.49
4'/2% bonds                                                             ..   ...
September 1,1965 ...
5,298.86
         41/.% hnnrls
School District No. 2 (Cranbrook)—
3%% bonds                  ••	
September 1, 1970.   	
August 1, 1958-76....	
May 1, 1966-75 ..-
August 1, 1958-76....-	
1,089.93
127,383.41
School District No. 3 (Kimberley) —
Wa% bonds              	
50,000.00
3%% bonds
136,003.34
School District No. 4 (Windermere)—
4?4% bonds                —..    	
April 15, 1958-77..	
July 15, 1970-71...	
May 1, 1966-75	
191,982.00
School District No. 7 (Nelson)—
4%% bonds . 	
School District No. 9 (Castlegar)—
3V4% bonds    ■ .,.._■.	
• . School District No. 13 (Kettle Valley)—
3%% bonds	
127,000.00
110,000.00
127,383.41
40,500.00
84,203.46
181,976.30
School District No. 18 (Golden) —
4Vi% bonds	
School District No. 19 (Revelstoke) —
4V_% bonds ._         ....
July 15, 1970-73	
December 15, 1963-77.....
August 1, 1958-76   	
School District No. 20 (Salmon Arm).—
3%% bonds...    	
School District No. 21 (Armstrong-Spallumcheen)—
4V> % bonds    ,      .    ,
July 15, 1959-73	
April 15, 1958-77..	
October 15, 1960-74
195,000.00
530,889.00
147,764.23
School District No. 22 (Vernon) —
4%% bonds... _. _	
School District No. 24 (Kamloops)—
3 >A% bonds.....                ....    ..     .. V  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, 1958—Continued
Description
Date of Maturity
Par Value
Book Value
Guaranteed by Province of British Columbia—Continued
School District No. 25 (Barriere) —
4%% honds .....                 '"'' 	
April 15, 1958-77	
December 15, 1963-77
April 15, 1958-77	
July 15, 1959-73  ..
$155,000.00
75,000.00
541.000.00
360,000.00
209,000.00
551,000.00
375,000.00
25,000.00
380,000.00
135,000.00
5,000.00
5,000.00
125,000.00
2,809,000.00
345,000.00
164,000.00
250,000.00
170,000.00
150,000.00
265,000.00
390,000.00
133,000.00
52,000.00
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
192,000.00
375,000.00
19,500.00
30,000.00
$151,822.50
School District No.
4'/2 % bonds...
27 (Williams Lake) —
73,433.25
School District No.
4M% bonds....
28 (Quesnel)—
529 909.50
360.000.00
School District No. 31 (Merritt) —
33/4 <_. honds     .   ...  1       _.__
August 1, 1958-76...
August 1, 1958-76	
October 15, 1960-74
September 15, 1961
October 15, 1960-74	
December 15, 1973-77
August 1, 1960	
August 1, 1965	
August 1, 1966-70  	
February 1, 1959-74
May 1, 1958-65	
September 1, 1959-71
May 1,1966-75 .. 	
200,173.93
School District No.
3?4% bonds
33 (Chilliwack)—
527,731.27
School District No.
3<A% bonds.._
34 (Abbotsford)—
369,410.57
School District No
3Vi% bonds..
36 (Surrey) —
23,257.50
School District No.
31/4% bonds ...
38 (Richrtiond)—
374,336.81
4'/4% bonds  1   	
130,963.50
School District No. 39 (Vancouver)—
4Vt% bonds 1.    ._	
5 000.00
5000.00
125 000 00
2,809,000.00
School District No
_W% honds
41 (Burndby)—
345,000.00
School District No. 42 (Maple Ridge)—
41/. % bonds   ; 	
School District No. 43 (Coquitlam)—
31/_<X, h.,nrk
164,000.00
250 000 00
3V4% bonds
September 15, 1966-75...
December 15, 1973-77
April 15, 1958-77	
August 1, 1959-73	
August 1, 1958-76	
April 15, 1958-77......	
February 1,1960-74
May 1,1966-75  .....
September 15, 1966-75
October 15, 1959-73
October 15, 1960-74
May 1, 1967-75.	
169,014.00
School District No
44 (North Vancouver)—
145,515.00
School District No
46 (Sechelt)—
259 567.50
School District No
53 (Terrace) —
390,000.00
School District No
33/4% bonds-
55 (Burns Lake)—
127,383.41
School District No
43/4% bonds....
57 (Prince George)—
50,934.00
School District No. 60 (Peace River North)—
252,000.00
School District No. 61 (Greater Victoria)—
3 V4% bonds               '■-	
250.000.00
3'/4% bonds                               	
447,390.00
School District No. 62 (Sooke)—
132,000.00
School District No. 67 (Ladysmith)—
31/_ Cfr. hnnrts                                       	
93,575.41
School District No
68 (Nanaimo) —
189 000.00
3'/4%bonds                                     	
June 1, 1960-74 	
June 1, 1960-74	
296,275.51
School District No. 69 (Qualicum) —
3'/.% bonds                                - 	
192.579.08
3V4% bonds                 ..   ;       	
October 15, 1960-74
May 1, 1966-75	
51,220.58
School District No. 71 (Courtenay)—
31/_% hnnrts                                                             ...    	
|         200000.00
AIAO/„ hnnrts
August 15, 1959-71	
169,500.00
School District No. 72 (Campbell River)—
October 1,1960-69	
|         240,000.00
School District No
74 (Quatsino)—
February 1,1960-74
December 15, 1963-77
September 1, 1958-63
September 1, 1959-68
192,000.00
School District No
80 (Kitimit)—
367,166.25
Village of Burns Lake—
18.154.50
Village of Campbell River—
29,613.40 MUNICIPAL SUPERANNUATION REPORT,  1957/58
V  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, 1958—Continued
Description
Date of Maturity
Par Value
Book Value
Guaranteed by Province of British Columbia—Continued
Village of Castlegar—
43/4% bonds,   _	
September 15, 1960-77	
$106,000.00
$101,060.40
Village of Comox—
3Y2% bonds   	
January 15, 1961-65	
42,000.00
42,000.00
Village of Creston—
4% bonds „ ,„ 	
July 1, 1958-76	
63,000.00
57,960.00
Village of Dawson Creek—
4% bonds 	
July 2, 1962-76	
221,000.00
203,960.90
Village of Fort St. John—
4Vi% bonds...   	
March 1, 1959-73 	
119,000.00
119,000.00
September 1, 1962-76
46,500.00
42,817.20
Village of Invermere—
4V4% bonds...      	
September 30,1963-72
42,500.00
42,500.00
Village of Quesnel—
4Yz % bonds	
May 1, 1958-77
550,000.00
517,000.00
July 15,1973-78
25,000.00
24,902.01
Village of Sidney—
33A% bonds—	
July 1, 1959-74
165,000.00
165,000.00
Village of Smithers—
4% bonds 	
August 1, 1958-76	
233,000.00
213,963.90
Castlegar Hospital Improvement District No. 3—
5% bonds...  	
May 1, 1958-77	
215,000.00
213,925.00
Bluebird Bay Waterworks District—
4Vi% bonds 	
July 1, 1958-82	
54,000.00
50,630.40
Brentwood Waterworks District—
4V4% bonds..-  ,	
June 1, 1958-77	
17,000.00
15,937.50
Duhamel Creek Waterworks District—
4% bonds     .
October 1, 1958-81	
24,700.00
22,168.25
Northfield Fire Protection District—
4'/i% bonds      _
March 1, 1959-82
39,500.00
37 035 ^0
ParksviUe East Waterworks District—
4V_% bonds   .               	
March 1, 1959 82
34,500.00
32,347.20
Petroglyph Waterworks District—
4% bonds 	
June 15, 1958-76	
44,500.00
39,938.75
Willow Point Waterworks District—
4!/_.% bonds......         	
April 1, 1958 77
80,000.00
75,008.00
Province of Manitoba—
3% bonds	
June 15, 1964
833,000.00
229,000.00
3% bonds... _               	
February 15, 1967..
Ontario Hydro Electric Commission—
105,000.00
76,000.00
106,811.32
January 15, 1967	
Totals    	
$29,584,700.00
$29,218,410.74 V 16 BRITISH COLUMBIA
SCHEDULE No. 4
s  j :; Municipal Superannuation Fund
Comparative Statistics, April 1st, 1939, to March 31st, 1958
Number
of
Contributors
Contributions
Withdrawals
Allowances
Fiscal
Year
Employer
Employees
Number
Amount
Refunded
Number
Granted
during
Year
Deaths
and
Expirations
during
Year
Number
in Force
at End
of Year
Amount
Paid
1939/40
$940/41
1941/42.
1942/43
1943/44	
1944/45 ..
1945/46	
1946/47
1947/48
1948/49
1949/50.	
1950/51
1951/52	
3,515
3,502
3,460
3,295
3,340
3,416
3,949
4,209
4,707
5,352
5,866
6,246
6,308
6,414
6,756
7,206
7,438
7,537
8,054
$376,213.96
385,310.30
403,590.01
398,961.01
411,337.12
431,251.30
505,050.16
579,347.60
693,553.87
895,590.07
1,062,852.82
1,186,109.17
1,294,156.71
1,428,109.03
1,660,960.41
1,756,555.37
1,796,578.89
1,834,553.99
1,954,458.27
$273,204.70
279,081.09
277,946.17
267,876.88
278,996.62
298,036.94
351,672.80
403,783.92
474,499.19
574,025.89
682,245.56
887,790.33
1,007,976.39
1,142,396.93
1,405,294.40
1,527,399.79
1,647,357.74
1,742,724.50
2,011,916.11
71
99
128
191
125
116
314
415
499
441
458
662
786
740
708
748
893
1,093
802
$42,575.46
38,666.49
46,504.88
68,582.55
45,792.56
53,755.08
74,102.47
79,892.69
99,412.03
88,140.76
75,505.30
129,164.91
197,308.22
213,204.00
210,664.96
245,905.28
337,027.58
452,178.25
335,755.24
78
99
116
193
120
130
215
171
149
134
115
130
88
103
91
103
101
94
73
36
36
34
53
44
46
51
48
42
42
65
68
80
76
74
96
83
92
92
973
1,036
1,118
1,258
1,334
1,418
1,582
1,705
1,812
1,904
1,954
2,016
2,024
2,051
2,068
. 2,075
2,093
2,095
2,076
$329,309.38
339,671.98
369,231.07
408,424.19
460,091.94
492,423.87
551,639.04
628,619.36
702,630.14
767,067.05
827,006.67
918,709.14
954,168.05
1952/53	
1953/54	
1954/55
1955/56
1956/57	
1957/58	
976,483.93
1,137,286.29
1,160,791.16
1,185,087.95
1,213,543.98
1,205,586.39
Totals—
i     |$19,054,540.06
$15,534,225.95
|$2,834,138.71
1
  1 ■- |—.
$14,627,771.58 MUNICIPAL SUPERANNUATION REPORT,  1957/58
V 17
SCHEDULE No. 5
Municipal Superannuation Fund
Comparative Statistics, April 1st, 1945, to March 31st, 1958,
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 I Female
Number of
Deaths and
Expirations
Male | Female
Number of
Allowances in
Force at End
of Year
Male j 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
1957/58—
Maximum
Maximum
retirement
retirement
retirement
retirement
retirement
retirement
retirement
retirement
retirement
retirement
retirement
retirement
retirement
retirement
retirement
retirement
retirement
retirement
retirement
retirement
retirement
retirement
retirement
retirement
retirement
retirement
age 65...
age 60—
age 65..
age 60...
age 65...
age 60...
age 65...
age 60...
age 65...
age 60—
age 65—
age 60...
age 65 ___
age 60—
age 65—
age 60...
age 65...
age 60—
age 65...
age 60...
age 65...
age 60...
age 65—
age 60—
age 65...
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
4,249
1,892
873
869
937
1,171
1,291
1,504
1,539
1,557
1,669
1,779
1,817
1,677
1,913
87
55
142
56
195
50
159
37
140
29
266
28
300
77
223
69
233
44
193
46
315
56
401
50
247
43
172
217
254
245
289
368
409
448
431
509
522
642
512
129
41
110
38
108
31
98
27
81
26
86
29
63
15
69
24
62
17
63
26
60
25
51
25
40
23
45
2!
10
9
8
15
10
10
12
14
16
18
10
40
10
37
7
36
3
38
3
49
14
56
6
62
14
63
6
57
16
79
12
60
14
69
13
70
16
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
1,372
493
116
135
142
130
156
165
174
185
194
198
206
211 V 18
BRITISH COLUMBIA
SCHEDULE No. 6
Municipal Superannuation Fund
Comparative Statistics, April 1st, 1947, to March 31st, 1958—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
"5.
c
53
■a
u
u
e
a
rt
O
3
g
"3
-a
u
S
•3
o
s
ri
a
<
d
E
0
H
3
•a
o
u
c
rt
rt
3
0
o
3
O
■a
o
i
<
d
E
0)
f-
.2.
3
c
Guaranteed1
s
•a
■6
o
<
d
£
H
3
u
"bo
g
■a
o
u
c
2
rt
O
c
o
•a
u
•a
o
2
i
<
OO
(6)
a
S
H
352
44
189
595
29
332
66
95
3
	
12
8
17
3
1
65
1
16
4
4
6
I
4
8
—
348
40
193
625
31
341
69
96
3
1947/48—
Normal retirement—
Disability	
Death	
40
2
65
1
Totals —
585
624| 398|    98
	
20
42
20)    1| 66
24)    6
4
Si
581| 656
410|    99|    66
1948/49—
Normal retirement...
Disability —
348
40
193
625
31
341
69
96
3
65
1
6
11
18
2
1      1
19   _   77
— 1 —1    1
| -| __
1
10     5
_     1
7|
3
1
ll
1
-
2
1
344
40
197
635
31
349
68
94   141
3|      2
j
Totals	
581
656| 410|    99
66
17| 20
19| ... | 78
17|    6
4
12|    2
1
581| 666
417|    97| 143
1949/50—
Normal retirement-
Disability..	
Death	
344
40
197
635
31
349
68
......
94
3
141
2
9
-
17
14
....
-
1
131 ....
-| ....
-| ....
61
1
23
5
5
10
1
-
9
2
4!    1
5   -.
-1 -
1
3301 630
351    28
2091   .-
1
358j    93
63|      3
  1 	
202
3
Totals	
581
666| 417)    97
143
26
14
13|  ... | 62
33|  11| 11
9|    1
-
5741 658
4211    96| 205
1950/51—
Normal retirement-
330
35
209
630| 358
28|    63
...._ | 	
93
3
202
3
5
14
n
i
....
1      1
16| —1 79
31 ... | ....
I - | ...
1
14| 19
11    1
5| -
15
1
10
2
—
1
321| 608
341    27
218| .....
1        1
364|    93) 281
64|      3|      3
1        |
Totals 	
574
658] 421]    96
205
19
13
19|      | 79
20| 20
16
12| -
573| 635
4281    96| 284
1951/52—
Normal retirement—
Disability	
Death 	
321
34
218
608
27
364|    93
64       3
281
3
6
1
11
12
....
-
1
7   -
4| ....
- - 1 -
47
24   11
l| -
5| ....
26
1
1
6| ....
1     1
_| ....
3
-
-
1
303j 583
34|    25
2241  ....
365|    93| 325
67       2|      3
-- 1 -- 1 	
Totals 	
573
635| 428|    96
284
18
12
11| ....I 47
30|  11
28
7|    1
3
5611 608
4321    951 328
1952/53—
Normal retirement._
Disability 	
Death 	
303
34
224
583
25
365
67
93
2
325
3
8
1
14
19
9
-
52
16| 20
H -
9| ....
8
9
1
3
9
295|  574
34|    25
2291 ......
36s|    90| 368
66|      2       3
- 1  1 —
Totals	
561
6081 4321    95
328
23
19
9|    -
52
261 20
8
10|    3
9
558| 599
431|    92| 371
1953/54—
Normal retirement—
Disability	
Death	
295
34
229
574| 365
25     66
..., | ....
90
2
368
3
3
8
3
6| ....
....I ....
... 1 -
69
"2
19
2
9
17
5
7
2
3
9
1
1
279| 555
321    25
228| .....
364
64
87
2
428
2
2
Totals  _
558
599| 431|    92
371
11
3
6| - | 71
30|  17
5
9|    3
10
539| 580
4281    891 432
1954/55—
Normal retirement—
Disability	
Death  	
279
32
228
555
25
364     87
64|      2
..... | ...
428
2
2
2
6
6
-
2
...
....
- 1 82
-1    5
1
131 27
-|    5
61 -
12
....
ll|    4
10   ....
-| _..
7
1
268| 522
321    20
228   ......
355
54
......
83   503
2        1
.—.|      7
Totals	
539
580| 4281    89
432
8
6
21 ...-I 87
19| 32
12
21|    4
8
528| 542
409|    85| 511
1955/56—2
Normal retirement-
268
32
228
5221 355     83
201    54      2
503
1
7
3
1
13
4
4
1
-
71
4
17
1
7
23
11
2
7
2
2
11
195
34
233
384
329
54
771 755
2|      1
Death	
__|    11
Totals—
528
5421 4091    85
511
17
4
5| ....| 75
25] 23
13
9|    2
11
462
402
383
79| 767
1956/57—
Normal retirement-
Disability  	
Death	
195
34
233
384
18
1
329|    77
54|      2
755
1
11
1
12
6
-
5| ....| 64
1   _     1
_| -|    4
14| 22
3     2
9| -
12
1
-
12
2
1
13
1
182
31
736
356
15
322
53
761 806
2|      1
 |    15
Totals	
462
402| 383|    79
767
13
6
6| _| 69
26[ 24
13
14|    1
14
449| 371
3751    78J 822
1957/58—
Normal retirement—
Disability	
Death 	
182
31
236
|        1
356| 322|    76
15|    531     2
 1 —1 —
806
1
15
2
7
2
-
1      1
11 -| 59
Zj Z\ "2
17
1
5
24
1
-
8
-
-
1
16|    5
1| ....
....| -
14
-
-
1
167| 326
30|    14
238   	
307
52
—
1
71| 851
21     1
 1    "
Totals	
449
371| 375|    78
822
9
2
1| -1 61
231 25
8
17|    5
14
435| 340
3591    731 869
1 Guaranteed:  (a) Superannuant died after expiration of guaranteed period;  (b) guaranteed period expired, superannuate having died previously.
2 From year 1955-56 the figures are based on the actual count by plan in force. MUNICIPAL SUPERANNUATION REPORT, 1957/58
SCHEDULE No. 7
Municipal Superannuation Fund
Number of Contributors and Pensioners by Employer, as at March 31st, 1958
V  19
Contributors
Account
"A"
Account
"B"
Pensioners
Total
Contributors
and
Pensioners
City of—
Armstrong..
Chilliwack-
Courtenay...
Cranbrook-
Duncan	
Enderby. _
Fernie 	
Grand Forks..
Kamloops	
2
i ::::::
1     i1
2
1
1
Kelowna....
Kimberley..
Langley	
Nanaimo....
Nelson	
New Westminster
North Vancouver-
Penticton	
Port Alberni .
Port Coquitlam..
Port Moody	
Prince Rupert—
Revelstoke	
Rossland	
Salmon Arm	
Trail  _
Trail-Tadanac Board of Park Commissioners .
Vancouver  _
Vernon ..
Victoria .
White Rock
District of—
Burnaby  ....
Central Saanich..
Chilliwhack 	
Coldstream	
Esquimau	
Glenmore 	
Greater Vancouver Water District  	
Greater Vancouver Sewerage and Drainage District-
Greater Victoria Water District  	
Kent    - _	
Langley _      	
Maple Ridge  _
North Cowichan  	
North Shore Union Board of Health
North Vancouver.-   	
Oak Bay  	
Powell River  _
Richmond 	
Saanich   	
Salmon Arm	
SpaOumcheen  	
Summerland  	
Surrey.... 	
University Endowment Lands.
West Vancouver  	
14
21
49
12
2»
3
25
1
3
5
3
f        505
4
. 81
li
3
20
22
2
4
2
2
6
13
27
3
l1
11
6
2
23
11
3
11
1
25
42
16
3
46
66
196
106
61
11
9
9
24
16
2
4
40
l1
6
2,797
38
348
303
2
8
2
33
2
146
2
16
21
6
17
9
154
59
7
53
117
1
1
64
21
95
3
2
7
2
3
1
1
24
14
1
20
34
53
58
2
4
1
13
4
1
1
12
200
4
1
6
2
48
22
19
26
1
1
13
7
28
2
9
4
V-
32
14
6
13
2
51
\t
57
17
3
74
114
2i
298
176
2i
72
38
14
13
42
23
3
6
52
li
6
4,239
5i
54
629
li
7
355
2
12
4
42
4
218
21
4
26
7
20
11
182
91
34
62
li
154
2
1
19
86
32
130
1 Inactive accounts, but eligible for pension benefits. V 20
BRITISH COLUMBIA
SCHEDULE No. 7—Continued
Municipal Superannuation Fund—Continued
Number of Contributors and Pensioners by Employer, as at March 31st, 1958—Continued
Contributors
Pensioners
Total
Account
"A"
Account
"B"
and
Pensioners
Village of—
Creston. ' — .
2
4
5
9
1
1
50
f        126
.             2i
1
1
5
2
4
6
1
3
1
2
3
1
4
1
6
7
2
11
7
2
8
3
1
2
50
11
2
3
2
3
4
2
2
203
)        836
69
3
2
3
7
10
4
5
5
11
4
11
19
21
4
5
2
1
33
2
7
1
1
5
1
17
2
10
9
7
.        337
.            I1
86
2
1
63
162
13
2
3
4
1
2
7
13
3
1
3
1
3
3
2
)         118
29
2
2
7
4
9
13
Quesnel —..       ,.—	
Warfield.                   ' j	
3
"2
Hospitals—
316
Vancouver General Hospital „.. -	
School District of—   ■
.      1.124
.             2i
83
Campbell River, No. 72	
4
7
Chilliwack, No. 33  . j	
5
1
Creston, No. 5 — .     -              .
9
17
Howe Sound, No. 48. —  —  	
10
10
Kitimat, No. 80           ;	
9
12
2
Mission City, No. 75...  	
7
14
New Westminster, No. 40.	
30
35
Penticton, No. 15       	
Poweli River. No. 47     	
7
11
3
1
36
Saanich, No. 63 	
10
9
Slocan, No. 8               — —
I
12
12
3
Trail. No. 11              —	
^8
Vanderhoof, No. 56 -   —-
5
13
West Vancouver, No. 45     —   —
Will'ams Lake, No. 27   	
12
9
f        505
Victoria, No. 61     -—
.            1'
126
Totals                -     	
f     1,228
)           151
6,826
21
J     2,076
f   10,130
J           171
1 Inactive accounts, but eligible for pension benefits.
Number of non-active unclaimed moneys accounts at March 31st, 1958, seventy-four. MUNICIPAL SUPERANNUATION REPORT, 1957/58 V 21
MUNICIPAL SUPERANNUATION FUND (OVER-AGE AGREEMENTS)
Statement of Revenue and Expenditure for the Fiscal Year
Ended March 31st, 1958
REVENUE
Contributions as per requirements of the agreements entered into pursuant
to section 14 (2) (b) of the " Municipal Superannuation Act "■—
Employees, section 6  $222,379.53
Employers, section 8—
Regular   $272,989.47
Special Agreement bonus contributions  245.42
     273,234.89
$495,614.42
Net interest on investments and bank interest        68,933.91
  $564,548.33
„ ,     , EXPENDITURE
Refunds—
Section 20        $3,703.84
Section 23        16,583.28
     $20,287.12
Transfer to Municipal Superannuation Fund General Account pursuant to
section 5 (5) of the Agreement in respect of two pensions granted
during year        12,006.36
32,293.48
Net increase of ledger assets  $532,254.85
Balance-sheet as at March 31st, 1958
ASSETS
Trustees' General
Account Account Total
Cash in bank  $4,060.32    $9,282.33       $13,342.65
Accounts receivable—contributions due from municipalities,
hospitals, school districts, etc         43,066.48 43,066.48
Investments   at  cost   or  par — net   after   amortization   of
premiums and discounts (see Schedule No. 9)  __..    2,216,735.95      2,216,735.95
(Par value, $2,262,500; market value, $2,172,481.)
Accrued interest on investments  19,652.66   19,652.66
$2,240,448.93 $52,348.81 $2,292,797.74
LIABILITIES
Employees' Retirement Annuity Account  $893,183.91
Employer Service Pension Accounts (see Schedule No. 8)  1,386,327.00
Vancouver Agreement Bonus Account for Firemen and Policemen  1,280.47
Accounts payable   12,006.36
$2,292,797.74
L
Approved.
W. H. FORREST,
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, 1958, 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., January 23rd, 1959. V 22
BRITISH COLUMBIA
SCHEDULE No. 8
Municipal Superannuation Fund (Over-age Agreements)
Employer Service Pension Accounts as at March 31st, 1958
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 Trail-
City of Vancouver..
City of Vernon	
City of Victoria.-
City of White Rock	
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-
District of Summerland	
University Endowment Lands-
District of West Vancouver—
Greater Vancouver Water District 	
Greater Vancouver Sewerage and Drainage Board-
Hospitals—
Royal Jubilee Hospital	
Vancouver General Hospital	
School District of—
Campbell River, No. 72  	
Castlegar, No. 9 _. _ -
Chilliwack, No. 33	
Creston, No. 5  _ 	
Howe Sound, No. 48-
Kimberley, No. 3	
Kitimat, No. 80 _	
Mission, No. 75	
Nelson, No. 7 	
New Westminster, No. 40-
Penticton, No. 15  —
Powell River, No. 47	
Saanich, No. 63	
Salmon Arm, No. 20	
Sooke, No. 62-
South Okanagan, No. 14.
Terrace, No. 53 ._	
Vanderhoof, No. 56	
Vernon, No. 22	
West Vancouver, No. 45-
Victoria, No. 61.	
Totals..
7
33
583
3
1
4
1
14
3
2
3
2
57
4
2
44
1
1
2
1
2
8
1
4
2
6
5
1
3
4
4
2
1
1
1
22
1
1
138
1
3
1
5
79
877
25
3
5
3
2
9
4
1
10
33
730
2
1
1
23
3
3
3
1
4
1
15
3
3
3
5
57
4
7
123
1
1
2
2
2
8
1
4
2
6
6
1
3
4
4
2
1
1
1
25
$8,766.54
3,465.15
7,941.10
3,707.10
6,554.72
3,246.05
2,129.02
10,718.47
6,071.45
1,024,951.51
5,259.58
5,096.82
459.93
5,497.01
2,229.90
3,917.35
305.48
2,668.34
436.84
2,941.30
391.94
4,514.79
2,179.71
603.14
2.181.32
6,030.71
14,998.09
7,589.84
17,933.91
165,507.60
1,062.74
1,205.92
682.13
1,377.41
717.43
853.60
2,793.64
1,621.26
5,319.20
454.16
4.877.74
4,086.86
180.65
3,974.34
1,549.17
5,696.72
665.66
1,188.56
330.27
1,209.49
18,185.34
237
I     1,139
$1,386,327.00 MUNICIPAL SUPERANNUATION REPORT,  1957/58
SCHEDULE No. 9
V 23
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, 1958
Description
Date of Maturity
Par Value
Book Value
Government of Canada—
June    1, 1960
Feb.    1, 1962
Sept.   1, 1966
Feb.    1, 1974
Feb.    1, 1981
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
Sept. 15, 1992
Dec.  15, 1987
Apr. 15. 1958-77
Dec. 15, 1973-77
July   15, 1970-71
June    1,1966-67
Aug.    1, 1958-76
Dec. 15, 1963-77
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
Oct.     1, 1958-76
Jan.   15, 1959-60
Dec. 31, 1958-74
Sept.   1, 1962-76
Sept. 30, 1958-62
Mar. 15, 1959-65
Mar. 15, 1959-68
Apr.    1, 1958-77
July    1, 1958
$92,000.00
55,000.00
4,000.00
90,000.00
150,000.00
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
300,000.00
100,000.00
129,000.00
40,000.00
28,000.00
30,000.00
95,000.00
105,000.00
36,000.00
108,000.00
75,000.00
7,000.00
38,000.00
65,000.00
7,000.00
85,000.00
24,000.00
10,000.00
22,000.00
50,500.00
17,500.00
14,500.00
30,000.00
36,000.00
7,000.00
$88,757.67
54,329.07
3,948.17
Guaranteed by Government of Canada—
Canadian National Railway Company—
3%% bonds                                                      .                     	
94,375.44
145,876.96
Province of British Columbia—
3% bonds                                                                                          	
25,139.70
3% bonds                                                                                    	
12,312.44
9,809.91
Guaranteed by Province of British Columbia—
British Columbia Power Commission—
3% bonds   .                                   	
8,763.62
3% bonds	
15,381.65
3%% bonds 	
4% bonds.     —
4% bonds.—       —	
65,000.00
15,000.00
14,000.00
62,000.00
5% bonds    	
288,199.77
Pacific Great Eastern Railway Company—
4% % bonds                   	
98,612.86
School District No. 3 (Kimberley) —
126,355.50
41/2% bonds 	
38,804.00
School District No. 7 (Nelson) —
4!4% bonds.... ,  	
School District No. 9 (Castlegar)—
3Vi% bonds 	
28,000.00
29,627.66
School District No. 10 (Arrow Lake) —
334% bonds.  	
School District No. 15 (Penticton)—
4Yz% bonds   _.	
School District No. 18 (Golden)—
4%% bonds	
School District No. 19 (Revelstoke) —
3lA% bonds           .                                   	
90,988.15
102,806.55
36,000.00
106,390.80
School District No. 39 (Vancouver)—
75,000.00
School District No. 40 (New Westminster)—
4Vi% bonds     	
School District No. 43 (Coquitlam) —
3Yt% bonds 	
7,000.00
37,441.55
School District No. 44 (North Vancouver)—
4Vi% bonds                	
65,000.00
School District No. 67 (Ladysmith)—
3!4% bonds                	
6,959.40
School District No. 68 (Nanaimo)—
3V4% bonds..	
Village of Burns Lake—
84,507.00
22,072.80
Village of Comox—
3Vi% bonds                               	
9,873.00
Village of Dawson Creek—
3%% bonds              ..               	
22,000.00
Village of Fort St. John-
46,500.40
Village of Invermere—
4Vi% bonds.    	
Village of Lake Cowichan—
31/2% bonds  	
17,500.00
14,249.58
Village of Osoyoos—
3% bonds..  	
27,057.00
34,268.40
Village of Sidney—
3%% bonds.                         	
6,893.60 V 24
BRITISH COLUMBIA
SCHEDULE No. 9—Continued
Trustees of the Municipal Superannuation Fund (Over-age Agreements) and
the Minister of Finance for the Province of British Columbia—Continued
Securities Held as at March 31st, 1958—Continued
Description
Date of Maturity
Par Value
Book Value
Guaranteed by Province of British Columbia—Continued
Village of Terrace—
3'/2% bonds  	
Apr. 15, 1966-75
June   1,1959-67
July    1, 1958-76
June 30, 1971-75
June 15, 1964
$90,000.00
9,000.00
55,000.00
20,000.00
8,000.00
$90,000.00
Village of Ucluelet—
8,583.30
53,350.00
20,000.00
8,000.00
Village of Warfield—
3%% bonds      	
Village of Westview—
3Vi% bonds                       	
Province of Manitoba—
3% bonds.                                                 	
Totals..     	
$2,262,500.00
$2,216,735.95
SCHEDULE No.  10
Municipal Superannuation Fund (Over-age Agreements)
Comparative Statistics, April 1st, 1948, to March 31st, 1958
Fiscal Year
Number of
Contributors
Contributions
Withdrawals
Number
of
Allow
Male
Female
Employer
Employees
Male
Female
Amount
Refunded
ances
Granted1
1948/49                              	
18
20
21
437
467
547
620
9
648
19
729
21
877
25
19
21
21
55
92
132
152
164
209
237
$10,617.72
9,742.81
8,735.41
94,708.65
122,932.92
147,258.20
\  178,049.96
I
}   195,373.74
I
) 224,267.19
J
) 273,234.89
I
$3,586.93
6,910.38
5,781.15
60,160.67
75,807.14
95,889.57
124,061.05
139,803.32
172,085.82
222,379.53
1
2
16
33
1
2
11
$153.82
578.53
2,859.25
6,276.14
6,317.66
13,058.46
12,152.15
27,722.43
) 20,287.12
1 Q4Q.<;n
1950/51                                	
.—
1951/52                      	
1952/53                          	
1953/54                          	
25               20
1954/55—
Maximum retirement age 65
Maximum retirement age 60
1955/56—
Maximum retirement age 65
Maximum retirement age 60
1956/57—
Maximum retirement age 65
Maximum retirement age 60
1957/58—
Maximum retirement age 65
Maximum retirement age 60
22
50
(   28
.      1
30
16
20
22
1
1
f   ......
1      2
Totals   --
|$1,264,921.49 | $906,465.56
| $89,405.56 |      	
i 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.
1959
410-159-7315

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