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Twenty-second Annual Report of the Business Done in Pursuance of the MUNICIPAL SUPERANNUATION ACT for… British Columbia. Legislative Assembly 1962

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Full Text

 PROVINCE OF BRITISH COLUMBIA
Twenty-second Annual Report
of the Business Done in Pursuance of the
MUNICIPAL
SUPERANNUATION ACT
for the
YEAR ENDED MARCH 3 1st
1961
Printed by A. Sutton, Printer to the Queen's Most Excellent Majesty
in right of the Province of British Columbia.
1962
  To Major-General the Honourable George Randolph Pearkes,
V.C., P.C., C.B., D.S.O., 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, 1961.
WESLEY D. BLACK,
Provincial Secretary.
Provincial Secretary's Office,
Victoria, B.C., November 29th, 1961.
 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, 1961.
f, I have the honour to be, ■ •-■
cirsir.'^ <   ... Sir,-   '
Your obedient servant,
W. H. FORREST,
Commissioner of Municipal Superannuation.
November 28th, 1961.
 Municipal Superannuation Report, 1960/61
REPORT OF THE BUSINESS DONE IN PURSUANCE OF THE MUNICIPAL
SUPERANNUATION ACT DURING THE FISCAL YEAR ENDED
MARCH 3 1st, 1961.
Section 3 (1).—The following employers adopted the Act during the year
under the provisions of clause (c), (d), or (/) of this subsection, effective from the
date shown:—
Employer Effective Date
School District No. 28 (Quesnel) July 1st, 1960
Seventy-seven hospitals (see Schedule No. 1) July 1st, 1960
Queen Alexandra Solarium September 1st, 1960    .
Queensborough Bridge Toll Authority
(New Westminster) September 1st, 1960
As at March 31st, 1961, there were 248 active employer accounts in the Fund.
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 statement of revenue
and expenditure and the balance-sheet appended.
Section 6.—Basic employee 5-per-cent contributions amounted to $3,646,-
616.24, and employee voluntary and special agreement contributions amounted to
$676,808.85.   As at March 31st, 1961, there were 17,959 active contributors.
Section 8.—Employer contributions amounted to $3,678,204.86 in respect of
current service and $1,356,043.26 in respect of past service. A total of $46,625
was refunded to twenty-three employers who had liquidated their past service liabilities. Extra employer contributions totalling $4,570.98, being one-half of 1 per
cent of salaries for firemen and policemen in Victoria, were made under special
agreements with this employer. Eleven employers reimbursed the Fund in a total
amount of $33,692.77, to cover payments made by the Commissioner on their
behalf supplementing superannuation allowance payments in accordance with the
provisions of individual special agreements with each of the eleven employers.
Section 10.—(1) The Minister of Finance paid $90,000 into the Fund, which
payment was in lieu of interest on the certificates of loan under the former Act.
(2) The net rate of interest earnings of the Fund for the year was 4.60 per
cent, and after charging administration expenses, 4.46 per cent; therefore, no payment was required from the Minister of Finance under this subsection.
(3) An amount of $214,957.04, being the excess of the net interest earnings
over the required 4 per cent, was transferred to the reserve for interest and administration, which totalled $290,739.12 as at March 31st, 1961.
Section 13.—Superannuation allowances were granted to 205 contributors who
attained retirement age. For analysis, see schedules of comparative statistics
appended.
Section 16.—Two superannuation allowances were granted under the total and
permanent disability provisions.
Section 17.—Superannuation allowances were granted to the dependent in the
case of twenty-five contributors who died while still in service. Refunds totalling
$13,623.13 were made in the case of sixteen contributors who died while still in
service.
5
 M 6 BRITISH COLUMBIA
Section 18.—Refunds totalling $451,826.72 were made in the case of 1,271
contributors who left the service of their employers.
Section 22. — Actuarial and administration expenses paid from the Fund
amounted to $75,901.68. The total administration expenses of the Superannuation
Branch are distributed among the various funds administered on the basis of the
number of contributors and pensioners. A comparison of the annual unit cost per
contributor and pensioner for the last eight years is as follows:—
1953/54  $3.30 1957/58  $2.94
1954/55     3.20 1958/59     2.92
1955/56     3.00 1959/60     3.18
1956/57     2.83 1960/61     2.77
Section 27.—The securities held by the trustees on March 31st, 1961, are set
out in Schedule No. 2 of this Report. During the year $11,468,000 par value bonds
were purchased, the average yield being 5.67 per cent; $1,214,000 par value bonds
were sold at an average yield of 4.15 per cent; and $496,500 par value bonds were
redeemed, resulting in a net increase of $9,757,500 par value bonds held by the
trustees between March 31st, 1960, and March 31st, 1961. 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.
During the year the benefits of the Municipal Superannuation Act were
extended to approximately 5,000 employees in seventy-eight public hospitals.
Past-service benefits were granted and financed on an individual basis. Each new
employer makes a separate contribution for past service sufficient to liquidate the
liability in respect of the past-service benefits granted to his employees. These
amounts are shown separately in the last column of Schedule No. 1.
Several amendments of a minor nature were made to the Act during the 1961
regular session of the Legislature, as follows:—
(1) Participation in the plan by part-time employees was left to the discretion
of the employer.
(2) The Act may be extended to a children's aid society and its employees,
upon application by the board of directors.
(3) An employee who resigns after completing twenty years of service and
before reaching his minimum retirement age may have payment of his
deferred paid-up allowance commence, upon application, any time after
attaining the minimum retirement age, rather than having to wait until
his maximum retirement age. Where such a person elects to have his
allowance start before the maximum retirement age, the amount of the
allowance is reduced.
(4) The automatic plan of allowance, which is effective if the employee does
not make a selection of plan at least one year prior to retirement, was
changed from a straight five-year guaranteed plan to the following:—
For a single person, a temporary annuity of not more than $55 per
month until age 70, with the balance on the five-year guaranteed
plan.
For a married male employee, a combination of plans including two
units of temporary annuity to age 70 ($55 per month each),
with the balance on the joint life and last survivor plan.
These were the plans found by experience to be most popular among the
employees in each category.
(5) An omission on the death in service provision was corrected.
 MUNICIPAL SUPERANNUATION REPORT, 1960/61
M 7
(6) The calculation of refunds was simplified with regard to the method of
calculating the amount of interest.
(7) Special provision was made to establish uniform methods of determining
eligibility and pensionable service for hospital employees coming within
the scope of the Act; also a maximum superannuation allowance for hospital employees was adopted to conform with the maximum used in the
Civil Service Superannuation Act—namely, $7,500 per annum.
W. H. FORREST,
Commissioner of Municipal Superannuation.
MUNICIPAL SUPERANNUATION FUND
Statement of Revenue and Expenditure for the Fiscal Year
Ended March 31st, 1961
Revenue
Contributions as per requirements of the Municipal Superannuation Act—
Employees, section 6—
Basic 5-per-cent contributions  $3,646,616.24
Voluntary and special agreement contributions        676,808.85
Employers, section 8—
In respect of current service (Schedule No. 1)  $3,678,204.86
In respect of past service (Schedule No. 1)     1,356,043.26
Special agreement bonus contributions  4,570.98
Special agreement supplementary pension payments (as
per contra)  33,692.77
Minister of Finance, section 10 (1 )____.
Interest on investments and bank interest.
Expenditure
Superannuation allowances—
Paid from Fund  $1,555,954.60
Paid by employers under special agreements
(as per contra)  33,692.77
Refunds—
Resignations, etc., section 18..
Death in service, section 17..
Employer past-service credit balances-
Miscellaneous employer	
$451,826.72
13,623.13
46,625.00
2,719.24
Administration expenses, sections 21, 22, and 30.
Net increase of ledger assets	
$4,323,425.09
5,072,511.87
90,000.00
2,206,478.70
$11,692,415.66
$1,589,647.37
514,794.09
75,901.68
2,180,343.14
$9,512,072.52
 M 8 BRITISH COLUMBIA
MUNICIPAL SUPERANNUATION FUND
Balance-sheet as at March 3 1st, 1961
Assets
Cash in bank  $13,463.12
Accounts receivable—current contributions due from municipalities,
hospitals, school districts, etc  871,957.01
Investments at cost or par—net after amortization of premiums and
discounts {see Schedule No. 2) (par value, $55,382,500)  53,842,816.69
Accrued interest on investments  575,330.08
$55,303,566.90
Liabilities
Municipal Superannuation Fund Basic Account  $38,853,945.97
Employees' Retirement Annuity Account . .  16,124,669.47
Victoria Agreement Bonus Account for Policemen  17,326.22
Victoria Agreement Bonus Account for Firemen  6,380.37
Reserve for interest and administration  290,739.12
Sundry accounts payable  10,505.75
$55,303,566.90
Approved.
W. H. FORREST,
Superannuation Commissioner.
G. S. SOUTAR,
Accountant.
COMPTROLLER-GENERAL'S CERTIFICATE
The accounts of the Municipal Superannuation Fund for the year ended March 31st, 1961,
have been examined under my direction and, subject to the fact that no actuarial report has
been prepared pursuant to the Municipal Superannuation Act, chapter 258, R.S.B.C. 1960, in
my opinion, the above balance-sheet is 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., November 17th, 1961.
 MUNICIPAL SUPERANNUATION REPORT, 1960/61
SCHEDULE No. 1
Contributions by Employer for Year Ended March 31st, 1961
M 9
Employer
Total
Contributory
Salaries,
1960/61
Employer Contributions
For
Current
Service
For
Past
Service
Alberni	
Armstrong..
Chilliwack..
Cities (32)
Courtenay	
Cranbrook-	
Dawson Creek-
Duncan.— ,
Enderby. 	
Fernie 	
Grand Forks..
Greenwood	
Kamloops	
Kelowna	
Kimberley	
Langley	
Nanaimo	
Nelson	
New Westminster-
North Vancouver...
Penticton	
Port Alberni	
Port Coquitlam.
Port Moody-
Prince George..
Prince Rupert..
Revelstoke	
Rossland	
Trail	
Vancouver.—
Vernon	
Victoria	
White Rock.
Sub-totals of 32 cities _
Burnaby	
Central Saanich..
Chilliwhack..	
Coldstream	
Esquimalt	
Fraser Mills	
Districts (29)
Glenmore  (amalgamated with Kelowna, September 15th,
1960)  	
Kent	
Kitimat    	
Langley—    ..	
Maple Ridge     ..
Matsqui    	
Mission    	
North Cowichan—.
North Vancouver-
Oak Bay-
Peachland	
Pitt Meadows-
Powell River	
Richmond-	
Saanich	
Salmon Arm.—
Spallumcheen„
Sumas	
Summerland	
Surrey	
Tadanac	
Terrace	
$52
5
60
29.
167
124.
62
12
63.
27
5
215
337.
134
19
338
467
1,754
828
369
213
100.
93
185
425
154
91
378
23,672
218.
3,002.
51
932.65
,625.00
,678.42
,683.25
,295.23
,034.00
1,224.80
,060.00
,606.70
,193.54
,809.15
,075.06
,158.61
,305.97
,808.76
,414.62
,620.41
,141.59
,574.87
,542.19
,636.18
,341.34
,045.13
,930.39
,989.65
,915.IS
,068.83
,003.52
:,323.54
,112.21
.,537.87
,738.90
$2,533.39
225.00
2,402.41
1,186.97
8,381.11
5,077.06
2,536.99
482.40
3,089.91
1,244.94
333.48
11,038.47
15,448.95
6,346.60
766.88
16,211.44
23,641.20
103,128.53
43,718.24
16,974.25
11,265.24
4,424,45
4,049.21
9,566.57
20,090.68
7,663.17
4,609.18
21,082.83
1,290,328.80
10,403.96
172,387.83
2,462.10
West Vancouver..
$2,868,394.59
34,573.87
42,989.00
21,726.40
215,070.29
5,264.16
20,726.07
334,237.94
152,827.44
92,724.83
156,970.00
86,878.15
106,498.38
1,201,405.22
435,207.86
3,937.50
18,945.36
278,474.66
748,290.64
1,243,623.70
27,182.72
4,778.00
44,250.82
94,211.62
1,082,261.00
245,379.07
46,251.50
832,195.34
$138,021.96
2,301.31
1,732.98
1,034.64
10,294.21
210.56
1,154.08
14,868.85
7,115.60
4,296.83
8,290.98
4,606.46
4,969.47
55,829.98
25,021.09
157.47
730.82
15,377.93
33,889.97
70,709.18
1,391.63
173.72
2,214.02
4,643.05
54,252.35
16,958.99
2,248.95
40,246.55
$1,347.00
440.04
916.02
33.54
628.98
25.02
6,62(8.50
4,115.37
6,678.00
8,207.04
53,915.70
16,105.08
224.04
4,552.98
1,159.74
429.06
4,927.02
1,639.56
446.28
275.00
567,267.48
2,991.00
110,881.50
$33,663,427.56    |    $1,823,102.24    |        $793,833.95
$13,343.94
1,387.50
836.46
2,190.00
418.00
151.02
834.00
260.52
11.52
69.00
258.48
3,820.46
7,685.56
56.04
1,625.04
1,046.52
6,493.50
119.46
3,628.02
4,895.04
13,304.04
7,274.52
Sub-totals of 28 active district accounts..
$10,445,276.13
$522,743.63    | $69,908.64
 M 10 BRITISH COLUMBIA
SCHEDULE No.  1—Continued
Contributions by Employer for Year Ended March 31st, 1961—Continued
Total
Contributory
Salaries,
1960/61
Employer Contributions
Employer
For
Current
Service
For
Past
Service
Towns (3)
Fort St. John _                                      	
$53,169.60
68,483.03
57,190.00
$2,646.79
3,078.82
2,984.05
$778.02
21.00
$178,842.63
$8,709.66    |              $799.02
Villages (57)
$8,855.66
7,025.00
5,279.88
11,600.00
45,323.46
26,482.23
3,960.00
16,385.04
35,040.23
4,180.15
$479.97
251.25
274.50
574.00
2,175.77
1,180.74
158.40
941.61
1,371.07
167.21
$176.04
12,813.62
4jO8O.O0
7,386.64
517.65
163.20
417.49
1.02
426.96
Harrison Hot Springs-   - - — 	
33,346.15
1,523.60
193.50
11,754.94
3,300.00
470.20
132.00
13,355.00
12,960.00
27,433.55
4,800.00
8,700.00
838.80
732.00
1,287.07
384.00
306.00
480.00
7.00
4,500.00
4,500.00
9,925.40
2,580.00
180.00
180.00
349.87
206.40
103.02
87,764.14
14,355.55
12,491.78
8,100.00
3,943.46
695.95
499.67
324.00
149.52
43.02
8,350.00
20,639.86
5,400.00
7,825.00
31,664.31
3,900.00
6,190.00
292.50
994.70
216.00
313.00
1,406.48
312.00
443.40
250.02
Sidney— _     	
1,452.85
1,191.29
28,195.00
23,665.77
Taylor     _                             .-          	
15,585.00
19,271.00
28,717.25
916.83'
690.39
1,623.26
Warfield                                                          -	
$647,681.61
$30,578.58
$1,830.10
 MUNICIPAL SUPERANNUATION REPORT, 1960/61 M 11
!
SCHEDULE No. 1—Continued
Contributions by Employer for Year Ended March 3 1st, 1961—Continued
Employer
Total
Contributory
Salaries,
1960/61
Employer Contributions
For
Current
Service
For
Past
Service
Miscellaneous Employers (17)
Burnaby Public Library-
Civic Properties Commission (Chilliwack) _
Cultus Lake Park Board  	
Greater Nanaimo Water District  	
Greater Vancouver Sewerage and Drainage District-
Greater Vancouver Water District	
Greater Victoria Water District	
Nelson Civic Centre Commission. _	
Nelson Municipal Library-
North Shore Union Board of Health-
Queensborough Bridge Toll Authority	
Trail-Tadanac Board of Park Commissioners-
University Endowment Lands _ 	
Vancouver Housing Authority-
Vancouver Public Aquarium Association..
Vernon Civic Arena  	
Victoria Memorial Arena	
Sub-totals of 17 miscellaneous employers _
Hospitals by Location (80)
Abbotsford—Matsqui-Sumas-Abbotsford General	
Alert Bay—St. George's	
Armstrong—Armstrong-Spallumcheen 	
Ashcroft—Lady Minto  	
Bella Bella—R. W. Large Memorial 	
Bella Coola—Bella Coola General 	
Burnaby—Burnaby General  —
Burns Lake—Burns Lake and District  	
Campbell River—Campbell River and District General
Castlegar—Castlegar and District  	
Chemainus—Chemainus General—   	
Chilliwack—Chilliwack General 	
Comox—St. Joseph's General	
Cranbrook—St. Eugene	
Creston—Creston Valley   	
Cumberland—Cumberland General	
Dawson Creek—St. Joseph's General  	
Duncan—King's Daughters'  _.
Enderby—Enderby and District Memorial 	
Esperanza—Esperanza General 	
Fernie—Fernie Memorial  —  	
Fort St. John—Providence  	
Ganges—Lady Minto Gulf Islands  	
Golden—Golden and District General 	
Grand Forks—Grand Forks  .	
Haney—Maple Ridge	
Hazelton—Wrinch Memorial  _ - 	
Hope—Fraser Canyon  	
Invermere—Windermere District  	
Kamloops—Royal Inland    	
Kaslo—Victorian.    .	
Kelowna—Kelowna General	
Kimberley—Kimberley and District  	
Ladysmith—Ladysmith and District General	
Lillooet—Lillooet District 	
Merritt—Nicola Valley General  _.  	
Mission City—Mission Memorial... 	
Murrayville—Langley Memorial  	
Nakusp—Arrow Lakes  	
Nanaimo—Nanaimo General    	
Nelson—Kootenay Lake General	
New Denver—Slocan Community 	
New Westminster—
Royal Columbian	
St. Mary's	
$51,264.08
6,233.33
4,335.00
36,695.94
754,552.60
,017,388.68
130,365.81
28,547.25
2,730.00
113,217.78
18,747.33
56,601.42
134,086.47
28,860.00
25,848.00
6,055,00
18,016.63
$2,144.26
249.34
346.80
1,654.82
37,583.24
50,912.45
5,514.35
1,193.13
163.80
5,057.33
891.41
2,560.52
7,485.92
1,526,10
1,222.49
242.20
889.10
$2,433,545.32
$119,637.26
$95,848.08
42,374.10
18,528.00
23,938.63
4,046.46
8,501.08
419,141.75
10,510.00
89,506.87
26,629.00
11,307.88
226,231.26
81,537.08
109,862.04
51,335.14
47,051.38
56,077.67
240,204.73
22,800.00
20,205.00
46,876.00
38,117.00
15,885.07
19,775.00
13,308.00
99,235.48
9,918.74
37,597.00
18,168.25
342,286.62
12,819.00
341,043.73
81,569.66
61,668.43
16,289.50
30,240.00
74,473.00
139,778.71
2,966.74
208,544.38
161,008.67
11,309.52
1,311,524.32
262,669.05
$3,710.97
2,190.21
1,081.98
1,052.96
131.29
291.48
16,404.99
501.75
4,154.55
1,156.83
519.89
9,903.31
3,856.50
4,576.41
2,328.04
2,148.87
2,415.40
10,524.71
1,241.82
938.70
1,984.79
1,583.42
985.14
770.02
668.29
4,160.66
427.54
1,274.94
571.46
13,979.96
544.14
14,777.04
4,200.58
3,001.82
488.68
1,288.36
3,420.94
5,998.82
121.32
9,716.35
7,369.54
633.97
60,158.16
9,779.97
$547.00
3,975.00
11,840.94
625.98
549.48
735.54
2,764.02
$21,037.96
$1,084.50
1,600.49
700.49
861.75
6,978.78
529.47
1,251.74
274.50
132.75
6,231.76
2,518.49
2,416.50
1,427.24
1,758.76
1,699.49
7,326.74
1,090.51
1,354.50
179.26
946.51
535.50
1,284.01
57.76
18.00
7,623.72
218.25
8,902.51
3,411.74
2,310.75
20.25
466.49
1,805.24
3,411.00
252.00
6,871.50
6,230.25
505.51
50,815.51
3,475.51
 M 12 BRITISH COLUMBIA
SCHEDULE No. 1—Continued
Contributions by Employer for Year Ended March 3 1st, 1961—Continued
Employer
Total
Contributory
Salaries,
1960/61
Employer Contributions
For
Current
Service
For
Past
Service
Hospitals by Location—Continued
North Vancouver—Lions Gate	
Ocean Falls—Ocean Falls General	
Oliver—St. Martin's	
Pender Harbour—St. Mary's..
Penticton—Penticton 	
Port Alberni—West Coast General-
Pouce Coupe—Pouce Coupe Community-
Powell River—Powell River General	
Prince George—Prince George Regional-
Prince Rupert—Prince Rupert General—
Princeton—Princeton General	
Queen Charlotte City—Queen Charlotte Islands General..
Quesnel—Quesnel General  	
Revelstoke—Queen Victoria	
Rossland—Mater Misericordiae  ..  	
Salmon Arm—Shuswap Lake General	
Sidney—Rest Haven.—  	
Smithers—Bulkley Valley District	
Squamish—Squamish General	
Summerland, West—Summerland General-
Surrey, North—Surrey Memorial	
Torino—Tofino General	
Trail—Trail-Tadanac 	
Vancouver—
Children's    	
Grace	
Mount St. Joseph's .
St. Paul's	
St. Vincent's	
Vancouver General	
Vanderhoof—St. John	
Vernon—Vernon Jubilee	
Victoria—
Queen Alexandra Solarium-
Royal Jubilee	
St. Joseph's _
White Rock—White Rock District	
Williams Lake—War Memorial- —
Sub-totals of 80 hospitals	
School Districts (47)
Alberni (No. 70)	
Alert Bay (No. 73)  	
Arrow Lakes (No. 10)	
Burnaby (No. 41)	
Campbell River (No. 72)	
Castlegar (No. 9)   	
Chilliwack (No. 33)	
Courtenay (No. 71)	
Cowichan (No. 65)	
Creston (No. 5)	
Fernie (No. 1)_.
Fraser Canyon (No. 32)	
Greater Victoria (No. 61)..
Howe Sound (No. 48)	
Kamloops (No. 24)  -
Kelowna (No. 23)	
Kimberley (No. 3)  _.
Kitimat (No. 80)	
Ladysmith (No. 67)	
Merritt (No. 31)	
Mission (No. 75)	
Nanaimo (No. 68)	
Nelson (No. 7)..
$353
22.
42
19
261
163
21
195
157
174
28.
8.
47.
34.
35.
83.
14,
42.
34,
41,
236
16,
297,
218,
227,
123.
1,283,
215,
5,124,
21,
209,
69.
1,831.
789,
78.
69.
,280.34
,354.57
,690.72
612.09
,213.38
,101.85
,985.50
,312.53
,530.06
,387.18
,502.23
285.00
,950.93
,542.88
,778.10
759.47
738.48
,097.73
,397.34
,272.11
047.90
,153.00
,046.87
,474.49
,746.61
,675.40
,644.91
,644.70
881.85
,998.95
,643.45
,693.96
,503.19
,307.11
,548.76
,084.64
$15,942.83
776.33
1,854.54
669.67
12,021.92
7,891.98
968.72
8,132.65
6,160.08
7,484.33
1,384.23
381.69
2,115.38
1,611.69
1,666.99
3,878.66
890.01
1,465.26
1,566.00
1,917.11
8,786.20
693.54
12,784.63
9,863.13
9,263.45
5,434.29
56,075.92
9,452.44
230,634.79
1,053.71
10,002.07
3,088.19
85,639.97
36,043.71
3,667.95
2,822.37
$17,558,596.30
$781,123.00
New Westminster (No. 40) _
$158
13,
36.
748,
49,
66.
84,
88.
6
79,
33
27
778
58
139,
129,
49
121
32
22
55,
258
97
156
,740.42
,345.00
,085.69
,430.03
.017.98
135.87
,397.31
,272.97
,714.00
983.22
,030.59
,013.09
,174.44
,988.00
,125.77
688.47
599.56
701.57
912.05
849.96
127.52
,376.82
019.48
810.47
$9,262.08
619.20
1,715.23
34,647.25
2,457.24
2,969.80
3,392.07
5,870.34
268.56
4,316.85
1,417.86
1,552.32
37,508.45
2,929.82
5,677.60
6,393.76
2,206.22
5,941.41
1,901.54
1,000.26
2,557.53
13,851.04
5,213.37
7,925.69
$14,094.72
116.26
898.49
178.49
6,546.76
6,918.01
170.26
5,367.76
2,400.01
3,247.49
901.51
981.00
856.53
1,196.28
2,079.00
433.51
1,019.99
1,314.00
1,980.00
139.50
9,562.50
9,912.76
6,535.51
3,633.75
41,323.50
8,124.75
56,601.54
369.72
7,359.75
1,387.19
16,008.00
24,297.75
2,117.99
465.75
$377,119.76
$3,252.96
775.20
2,076.00
142.50
1,290.00
52.02
169.02
648.00
11,618.52
165.00
799.98
 242.04
85.02
375.00
6,000.00
1,048.50
3,310.14
 MUNICIPAL SUPERANNUATION REPORT, 1960/61 M 13
SCHEDULE No.  I—Continued
Contributions by Employer for Year Ended March 31st, 1961—Continued
Employer
Total
Contributory
Salaries,
1960/61
Employer Contributions
For
Current
Service
For
Past
Service
School Districts—Continued
North Vancouver (No. 44)	
Penticton (No. 15)    	
Powell River (No. 47)  	
Prince George (No. 57)  	
Prince Rupert (No. 52)	
Princeton (No. 17)  	
Qualicum (No. 69)  	
Quesnel (No. 28)  	
Richmond (No. 38)... 	
Saanich (No. 63)..
Salmon Arm (No. 20)~
Sechelt (No. 46) 	
Slocan (No. 8)	
Smithers (No. 54)	
Sooke (No. 62)_
Southern Okanagan (No. 14) _
Terrace (No. 53) _
Trail (No. II)	
Vancouver (No. 39)	
Vanderhoof (No. 56)- 	
Vernon (No. 22)_
West Vancouver (No. 45)..
Williams Lake (No. 27)	
Sub-totals of 47 school districts	
Totals of 248 active employer accounts..
$361,
46,
90,
132,
21
15
23
45
304
63
50,
48
10,
56,
74
61
52
171
2,869
39
82
141
75
,302.17
929.58
,336.87
,760.47
,933.00
,927.00
,639.30
,535.50
,906.25
,054.48
,520.20
,010.84
,387.50
393.00
,110.10
,371.00
,955.00
,373.01
,038.07
,979.91
,200.94
,256.43
,860.56
$19,082.14
2,400.14
4,569.25
6,940.15
877.32
2,145.46
945.93
2,329.74
12,153.70
3,829.34
2,463.14
3,153.87
598.50
2,783.53
3,748.25
3,624.36
2,457.80
8,319.30
132,649.69
2,117.69
3,451.18
7,173.61
2,900.91
8,131,321.46    |       $392,310.49
$3,063.00
385.02
516.48
180.00
1,642.00
309.00
402.03
557.04
736.50
193.02
526.44
6.00
63.90
42,679.50
90.00
212.52
7,901.48
$91,513.83
$73,058,691.01    I    $3,678,204.86
$1,356,043.26
 M 14 BRITISH COLUMBIA
SCHEDULE No. 2
Trustees of the Municipal Superannuation Fund and the Minister of
Finance for the Province of British Columbia
Securities Held as at March 31st, 1961
Par Value Book Value
Province of British Columbia  $285,000.00            $283,641.82
Province of British Columbia guaranty—■
British Columbia Power Commission  6,938,500.00           6,831,248.57
British Columbia Toll Highways and Bridges
Authority  1,671,000.00           1,683,693.47
British Columbia Toll Highways and Bridges
Authority demand note  425,000.00              425,000.00
Pacific Great Eastern Railway Company  3,376,000.00           3,287,030.32
Greater Vancouver Water District  355,000.00              347,765.77
Vancouver and Districts Joint Sewerage and
Drainage Board  25,000.00                25,329.25
British Columbia school district serials  31,994,000.00         30,717,137.23
British Columbia municipal serials  2,247,000.00           2,124,571.64
British Columbia hospital improvement district
serials  719,000.00              716,977.00
British Columbia fire protection  and waterworks district serials  439,500.00              419,231.90
Alberta Government guaranty—
Alberta Government Telephone Commission.- 130,000.00              127,474.58
Alberta Municipal Financing Corporation  450,000.00              436,709.60
Province of Manitoba  1,705,000.00           1,707,650.35
Province of Ontario guaranty—
Ontario Hydro-electric Power Commission—. 270,500.00              276,453.09
Ontario Municipal Improvement Corporation.. 2,270,000.00           2,302,892.36
University of Toronto  1,832,000.00           1,882,456.99
Province of Quebec guaranty—
Quebec Hydro  250,000.00             247,552.75
$55,382,500.00       $53,842,816.69
 MUNICIPAL SUPERANNUATION REPORT, 1960/61
M 15
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 M 16 BRITISH COLUMBIA
SCHEDULE No. 4
Municipal Superannuation Fund
Comparative Statistics, April 1st, 1946, to March 31st, 1961,
Subdivided According to Sex of Contributor
Superannuation Allowances
Number of
Contributors
Number of
Refunds
Granted
Fiscal Year
Granted
during
Year
Deaths and
Expirations
In Force at
End of Year
Male
Female
Male
Female
Male
Female
Male
Female
Male
Female
1946/47	
3,340
869
198
217
148
23
44
4
1,570
135
1947/48	
3,770
937
245
254
139
10
39
3
1,670
142
1948/49  ;  ....
4,199
1,190
196
245
125
9
41
1
1,754
150
1949/50  -.	
4,595
1,312
170
289
107
8
63
2
1,798
156
1950/51  - .
4,763
1,525
296
369
115
15
62
6
1,851
165
1951/52  -       	
5,206
1,594
393
411
78
10
76
4
1,853
171
1952/53   	
5,324
1,649
325
459
93
10
69
7
1,877
174
1953/54 	
5,634
1,801
302
451
79
12
73
!         1
1,883
185
1954/55	
6,056
1,931
261
539
89
14
91
5
1,881
194
1955/56—!
Maximum retirement age 65
4,482
315
60
60
1,421
Maximum retirement age 60
1,806
1,981
56
538
25
16
14
9
474
198
1956/57—
Maximum retirement age 65
4,749
451
51
69
1,403
Maximum retirement age 60
1,861
1,886
50
662
25
18
13
10
486
206
1957/58—
Maximum retirement age 65
5,126
275
40
70
1,373
Maximum retirement age 60
1,917
2,150
44
534
23
10
16
6
493
210
1958/59—
7,086
2,093
283
21
561
55
18
11
49
10
9
1,379
501
Maximum retirement age 60
2,770
212
1959/60—
Maximum retirement age 65
7,673
376
55
62
1,372
Maximum retirement age 60
2,130
2,946
20
658
41
11
19
8
523
215
1960/61—
Maximum retirement age 65
8,995
385
100
72
1,400
Maximum retirement age 60
2,132
6,832
16
886
37
95
12
7
548
303
1 From year 1955/56 the figures are based on new actual count.
 MUNICIPAL SUPERANNUATION REPORT,  1960/61 M  17
SCHEDULE No. 5
Municipal Superannuation Fund
Comparative Statistics, April 1st, 1951, to March 31st, 1961—Allowances
Granted and in Force, Subdivided by Type and Plan of Allowance
Granted during
Year
Expired during
Year
In Force at End
of Year
Fiscal Year
3
c
u
3
H
«
3
M
J
O
>->
u
jg
•3
o
ri
c
<
d
B
V
H
3
C
Guaranteed1
0
3
'0
■a
•9
0
IS
ri
a
<
d
E
V
H
0
3
M
C
•a
u
U
c
«
3
O
3
0
u
td
0
s
i
<
(a)
(6)
B
H
1951/52—
6
1
11
12
7
4
—
47
m| 11
l'i	
51
26
7
'   6
1
1
3
303
j1
5831   165
93
2
325
34]    25]    67
224| 	
3
Death...                .                             	
Totals   ...                               	
18]  12
111 1 47
30) ii
28]    7]     1
3
561] 6081 432
95
328
1952/53—
8   19
11......
14[—
9
—
52
16| 20
1!	
8
9
1
3    9
—|—
—1	
295
34
229
574
25
365
66
90
2
368
1
Death  	
M -
Totals  - -	
231  19
9\      1 52
261 20|    8
10]    3]    9
5581 599] 431
92] 371
1953/54—
3
8
3
6
— | 69
 |    2
i      1
19   171    5
1      1
■   7]    3i    9
ri *
279
32
228
555   364
25"   64
871 428
Disability                                                	
Death	
2
9
       -
2]      2
n
Totals                     	
11|    3|    6\     | 71
30]  171    5'|    9
3
10
539]  580]' 428
89| 432
1954/55—
2
6
6
2
82
5
13   27
 -     5
6|-..
12
__
u
10
1   4
•   7
1
268
32
228
522] 355
20]    54
83
2
503
Disability    _	
Death- ___	
1
1     7
Totals                              	
8[    6]    2] | 87
19]  32]  12] 21]    4|    8
528]  542] 409
85]  511
1955/56—3
3
1
13
4
i
i-	
71
4
i     '1
1;7,   93    11 i    1      7
11
195
34
233
384
18
329
54
77
2
755
11        \     ■>.
2
1
Death.      	
7|_
I    ...
11
Totals 	
171    4|    5| — | 75
25
23]  13|    9|    2|  11
462; 402]' 383
79] 767
1956/57—
1
12
6
5 | 64
H- |    1
— 1 '    4
14
3
221 12
9)!     1
12
2
1
13
1
182] 356] 322
31'      15       S3
76
2
806
1
Death  _  .	
9\   -1-	
236
15
Totals	
13
6|    6|—..j 69
26] 24|  13|  14|     1]  14
449]  371]  375
78
822
1957/S&—
2
7
2
lj—..   59
■ hh
17
1
5
24
1
'   8
• 16
I
5
14
167] 326]  307
30]    14|    52
238 |	
71
2
851
Disability...   — 	
Death -  _    ._.
1
17
Totals < 	
9
2\    1>|      , 61
23] 25
8]  17
5
14
435] 340| 359
731 869
1958/59—
3'
9
n    ,!
56
6
91  15
1      1
4]-_
2
1.
16
1
3
13
2
161! 316] 293
29]    12'   52
243]- ]	
68
2
894
\
1
Death	
21
12]    7|    3|_    ;■ 62
14]  16]    3'|  171    3|  15
4331 328] 345
70] 916
1959/60—
3     51    3
.... [11
»l 1—
1
75
9
11    27
4
11
2
15
153    290   285
69   954
Disability  —
Death -	
3
13
3
26
239
10     51
2
1
30
Totals _	
12[    6|    4
1| 84
27] 30|    4|  13
 1 15
418]  300] 336
7I| 985
1960/61—
i      1      i
56   21'].   9
._..      li    1
15| I |—
119
10
17   24
1
14
3
6
15
1
1        .
192] 286] 280
21     10]   '49
250|. 1.	
63
2
1058
Disability 	
Death  ___ _	
5
4
1'
t
39
71
22
101
129
26
251     1
17
6
16
463
296!i 10Q
65 4098
1 Guaranteed:  (a) Superannuant died after expiration of guaranteed period; (6) guaranteed period expired,
superannuant having died previously.
2 From year 1955/56 the figures are based on the actual count by plan in force.
 M  18 BRITISH COLUMBIA
SCHEDULE No. 6
Municipal Superannuation Fund
Number of Contributors and Pensioners by Employer, as at March 31st, 1961
Employer
Contributors
Pensioners
Total Contributors and
Pensioners
Class I
Class II
Class III
Cities (32)
f
{
1
1
!
{
1
{
1
n
i
13
li
7
33
22
14
3
16
6
1
36
70
21
4
li
52
3i
76
174
126
69
47
22
16
32
68
29
15
82
31
2,568
48
358
11
2i
459
4
6
31
6
41
35
22
26
17
21
176
51
1
5
44
109
152
6
5
2
2
8
8
6
15
15
107
2i
30
10
4
5
11
5
li
11
2i
1,310
4
180
2
92
4
12
12
9
3
43
30
10
li
18
57
1
4
2
2
7
2
1
1
2
17
3
1
4
8
58
14
10
4
2
2
7
li
16
1
2
4
li
727
3
88
3
61
1
6
3
13
4
2
5
1
2
20
9
1
5
23
21
1
3
2
7
2
3
1
1
24
14
1
5
21
32
64
55
7
2
2
1
11
4
1
8
977
11
193
34
3
3
2
1
2
21
20
2
6
25
12
1
20
Courtenay.       —	
Cranbrook  	
li
11
47
31
18
6
20
7
2
Kamloops   -	
70
109
31
10
li
92
31
131
403
2i
225
96
S3
26
23
44
li
106
34
23
Trail      	
li
105
6i
5,582
66
819
White Rock _          	
16
Districts (29)
2i
646
9
Chilli whack                                    	
15
7
49
2
6
66
39
25
40
21
25
260
110
1
6
61
li
156
255
7
1 Inactive accounts, but eligible for pension benefits.
 MUNICIPAL SUPERANNUATION REPORT, 1960/61 M 19
SCHEDULE No. 6—Continued
Municipal Superannuation Fund—Continued
Number of Contributors and Pensioners by Employer, as at March 31st, 1961—
Continued
Employer
Contributors
Pensioners
Total Contributors and
Pensioners
Class I
Class II
Class III
Districts—Continued
Spallumcheen _ _  —	
1
10
20
230
9
12
i           41
1
1
4
31
1
li
16
3
1
1
1
1
1
1
1
1
1
2
1
1
1
1
1
1
1
15
6
23
1
3
11
25
288
56
5         1               4
10
|       117
10
16
13
2
1
2
3
9
5
1
3
8
1
3
1
2
8
3
1
3
3
6
1
1
1
1
2
1
30
li
Towns (3)
Fort St. John                      	
186
13
18
14
Villages (57)
3
Alert Bay 	
<              1
'■                  9
1
2
1
3
Campbell River 	
10
6
1
Com ox   _
4
9
Cumberland _    	
1
3
2
2
8
Invermere _ -	
3
1
3
6
2
1
Montrose   	
1
18                          1
20
4
1
2
1
4
1
2
11
1
1
5
6
	
Osoyoos     _ — _
1
1
12
Sechelt —      _	
2
Silverton  __	
Smithers   	
Squamish _	
Stewart _ 	
6
7
i Inactive accounts, but eligible for pension benefits.
 M 20 BRITISH COLUMBIA
SCHEDULE No. 6—Continued
Municipal Superannuation Fund—Continued
Number of Contributors and Pensioners by Employer, as at March 31st, 1961-
Continued
Employer
Contributors
Pensioners
Total Contributors and
Pensioners
Class I
Class II
Class III
Villages—Continued
Taylor	
3
5
4
3
1
1
7
126
(          li
I      195
24
5
4
11
11
12
7
5
1
4
4
1
1
1
24
2
6
1
17
7
6
3
5
4
15
1
3
2
2
2
1
8
7
3
1
14
1
1
2
10
1
1
13
2
1
1
17
1
1
1
1
35
7
11
7
10
159
3
30
11
6
76
24
38
16
15
21
78
9
6
16
25
6
9
5
35
16
14
6
14
33
4
7
1
2
1
2
3
1
2
1
1
1
Telkwa          	
Tofino  	
Ucluelet. ' — _
Vanderhoof    	
Warfield           	
4
6
6
	
Special Groups (17)
13
Civic Properties Commission (Chilliwack)..
1
1
8
Greater Vancouver Sewerage and Drainage
141
li
241
30
6
Nelson Municipal Library	
1
21
Queenborough Bridge Toll Authority.
Trail-Tadanac Board of Park Commissioners - —   -	
11
12
34
8
Vancouver Public Aquarium Association
6
1
4
Hospitals (80)
Abbotsford — Matsqui-Sumas-Abbotsford
40
Alert Bay—St. George's._ 	
Armstrong—Armstrong-Spallumcheen	
2
7
12
8
11
184
5
Campbell River—Campbell River and Dis-
36
12
Chemainus—Chemainus General.	
6
95
34
45
19
20
Dawson Creek—St. Joseph's General—	
25
95
Enderby—Enderby and District Memorial-
Esperanza—Esperanza General 	
10
9
18
Fort St. John—Providence 	
Ganges—Lady Minto Gulf Islands	
27
9
10
6
44
Hazelton—Wrinch Memorial _ 	
23
17
Invermere—Windermere District—	
7
i Inactive accounts, but eligible for pension benefits.
 MUNICIPAL SUPERANNUATION REPORT, 1960/61 M 21
SCHEDULE No. 6—Continued
Municipal Superannuation Fund—Continued
Number of Contributors and Pensioners by Employer, as at March 31st, 1961—
Continued
Employer
Contributors
Pensioners
Total Contributors and
Pensioners
Class I
Class II
Class III
Hospitals—Continued
20
20
4
4
4
4
9
13
13
1
94
13
21
1
3
1
20
11
1
10
9
10
2
2
2
2
1
2
2
14
1
18
3
6
10
111
10
1    v
I     472
2
17
12
1        99
85
4
3
26
1
8
-:	
---
108
7
111
26
21
8
8
26
46
2
65
51
5
417
104
116
8
16
8
80
50
10
70
54
59
«
5
16
14
14
26
5
22
11
14
86
7
98
78
93
42
377
83
3i
1,166
4
71
25
li
322
237
30
28
15
2
1
1
5
1
2
1
1
24
6
1
3
2
1
1
2
2
6
2
2
18
4
187
2
61
11
1
129
7
136
30
Ladysmith—Ladysmith and District Gen-
25
8
12
30
Murray ville—Langley Memorial „	
55
3
Nanaimo—Nanaimo General-	
80
65
7
New Westminster—
535
St. Mary's  _ __
117
1           143
9
19
9
101
62
Pouce Coupe—Pouce Coupe Community
11
83
Prince George—Prince George Regional
Prince Rupert—Prince Rupert General
63
71
10
Queen Charlotte City — Queen Charlotte
5
18
16
16
34
7
24
Squamish—Squamish General	
Summerland, "West—Summerland General-
13
16
100
Trail—Trail-Tadanac, 	
Vancouver—
118
87
101
Mount St. Joseph's _.	
St. Paul's	
54
506
97
Vancouver General 	
Vanderhoof—St. John 	
Vernon—Vernon Jubilee	
Victoria—
41
1,825
6
90
37
li
482
333
34
Royal Jubilee  	
St. Joseph's -   	
White Rock—White Rock District 	
Williams Lake—War Memorial .	
School Districts (47)
Alberni (No. 70)	
31
42
Alert Bay (No. 73) _	
3
9
1 Inactive accounts, but eligible for pension benefits
 M 22 BRITISH COLUMBIA
SCHEDULE No.  6—Continued
Municipal Superannuation Fund—Continued
Number of Contributors and Pensioners by Employer, as at March 31st, 1961—
Continued
Employer
Contributors
Class I
Class II
Class III
Pensioners
Total Contributors and
Pensioners
School Districts—Continued
Burnaby (No. 41)   	
Campbell River (No. 72) _	
Castlegar (No. 9)	
Chilliwack (No. 33)  	
Courtenay (No. 71)  	
Cowichan (No. 65)	
Creston (No. 5)   	
Fernie (No. 1)   	
Fraser Canyon (No. 32)—	
Greater Victoria (No. 61)..	
Howe Sound (No. 48)  _-
Kamloops (No. 24) _
Kelowna (No. 23) 	
Kimberley (No. 3)  —
Kitimat (No. 80) _	
Ladysmith (No. 67) 	
Merritt (No. 31)— 	
Mission (No. 75)-	
Nanaimo (No. 68) 	
Nelson (No. 7)   	
New Westminster (No. 40).	
North Vancouver (No. 44) 	
Penticton (No. 15)  - -
Powell River (No. 47)- 	
Prince George (No. 57)..
Prince Rupert (No. 52)..
Princeton (No. 17)	
Qualicum (No. 69)	
Quesnel (No. 28)-	
Richmond (No. 38)	
Saanich (No. 63)	
Salmon Arm (No. 20)—.
Sechelt (No. 46)	
Slocan (No. 8) 	
Smithers (No. 54)	
Sooke (No. 62)-
South Okanagan (No. 14).
Terrace (No. 53) 	
Trail (No. 11) 	
Vancouver (No. 39)	
Vanderhoof (No. 56)..
Vernon (No. 22)..
West Vancouver (No. 45)..
Williams Lake (No. 27)	
109
9
13
15
22
1
18
7
6
141
II
25
35
10
21
6
4
12
49
23
30
68
11
15
33
6
4
5
11
49
15
13
9
2
12
17
14
11
38
li
431
8
19
23
20
11
47
1
3
10
3
40
1
13
2
1
1
3
2
3
23
5
5
16
2
li
7
4
1
1
2
30
4
1
4
181
3
6
15
4
Totals..
13i
8,995
6i
2,132
9i
6,832
3
1
27
4
1
2
9
12
2
3
121
2,251
li
168
10
16
27
27
1
21
12
7
208
12
42
37
12
22
9
6
15
72
30
44
96
15
li
22
37
7
5
6
13
81
20
14
13
2
14
20
15
11
47
l'i
733
11
27
39
24
281
20,210
1 Inactive accounts, but eligible for pension benefits.
Number of inactive accounts, but eligible for pension benefits, 28;   number of non-active unclaimed moneys
accounts as at March 31st, 1961, 96.
Printed by A. Sutton, Printer to the Queen's Most Excellent Majesty
in right of the Province of British Columbia.
1962
460-1261-6260
  

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