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Twenty-third Annual Report of the Business Done in Pursuance of the MUNICIPAL SUPERANNUATION ACT for… British Columbia. Legislative Assembly 1963

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Full Text

 PROVINCE OF BRITISH COLUMBIA
Twenty-third Annual Report
of the Business Done in Pursuance of the
MUNICIPAL
SUPERANNUATION ACT
for the
YEAR ENDED MARCH 31
1962
Printed by A. Sutton, Printer to the Queen's Most Excellent Majesty
in right of the Province of British Columbia.
1963
  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
31, 1962.
WESLEY D. BLACK,
Provincial Secretary.
Provincial Secretary's Office
Victoria, B.C., January 18,1963.
 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
31,1962.
I have the honour to be,
Sir,
Your obedient servant,
W. H. FORREST,
Commissioner of Municipal Superannuation.
January 17,1963.
 Municipal Superannuation Report, 1961/62
Report of the Business Done in Pursuance of the Municipal Superannuation Act during the Fiscal Year Ended March 31, 1962
Section 3(1).—The following employers adopted the Act during the year under
the provisions of clause (c), (d), or (h) of this subsection, effective from the date
shown:—
Employer Effective Date
Kitimat General Hospital April 1, 1961
School District No. 77 (Summerland) May 1, 1961
G. F. Strong Rehabilitation Centre (Vancouver) July 1, 1961
Gorge Road Hospital (Victoria) July 1, 1961
Michel Hospital July 1, 1961
Family and Children's Service (Victoria) July 1, 1961
The Corporation of Delta January 1, 1962
As at March 31, 1962, there were 255 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 $4,053,-
534.36, and employee voluntary and special agreement contributions amounted to
$683,492.31.   As at March 31, 1962, there were 18,689 active contributors.
Section 8.—Employer contributions amounted to $4,028,273.95 in respect of
current service and $ 1,646,245.85 in respect of past service. An amount of $45,258
was refunded to Vancouver School District No. 39 in adjustment of past-service
liability payments, and a total of $1,658.41 was refunded to sundry employers to
adjust contributions in error. Extra employer contributions totalling $2,641.90,
being one-half of 1 per cent of salaries for Victoria firemen, were made under a
special agreement with this employer. Twelve employers reimbursed the Fund in a
total amount of $30,238.87, 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 twelve employers.
Section 10.—(1) The Minister of Finance paid $85,000 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 4.80 per
cent, and after charging administration expenses, 4.70 per cent; therefore, no payment was required from the Minister of Finance under this subsection.
(3) An amount of $406,836.13, being the excess of the net interest earnings
over the required 4 per cent, was transferred to the Reserve Account, which totalled
$697,575.25 as at March 31, 1962.
Section 13.—Superannuation allowances were granted to 201 contributors who
attained retirement age. For analysis, see schedules of comparative statistics
appended.
Section 16.—Five 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-one contributors who died while still in service. Refunds totalling
$18,652.49 were made in the case of twenty-five contributors who died while still
in service.
5
 U 6 BRITISH COLUMBIA
Section 18.—Refunds totalling $662,246.40 were made in the case of 1,762
contributors who left the service of their employers.
Section 22. — Actuarial and administration expenses paid from the Fund
amounted to $57,246.94. 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:—
1954/55  $3.20 1958/59  $2.92
1955/56     3.00 1959/60     3.18
1956/57     2.83 1960/61     2.77
1957/58     2.94 1961/62     2.72
Section 27.—The securities held by the trustees on March 31, 1962, are set
out in Schedule No. 2 of this Report. During the year $14,021,750 par value bonds
were purchased, the average yield being 5.39 per cent; $2,486,500 par value bonds
were sold, at an average yield of 4.77 per cent; and $652,000 par value bonds were
redeemed, resulting in a net increase of $10,883,250 par value bonds held by the
trustees between March 31, 1961, and March 31, 1962. 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.
LEGISLATION
The Municipal Superannuation Act Amendment Act, 1962, includes the following changes:—
1. Provided for extension of the plan to
(a) Magistrates, including those receiving a stipend from the Minister of
Finance;
(b) a public library association or municipal public library or regional library
district as constituted under the Public Libraries Act;
(c) the British Columbia Hospitals' Association and its permanent employees;
(d) the Hospital Employees' Union, Local 180, and its permanent employees;
(e) the National Union of Public Employees (British Columbia Division) and
its permanent employees.
2. Provided for compulsory contributions by the employer and optional arrears
contributions by the employee in those cases where the employer failed to make
deductions and contributions on the salary of an eligible employee.
3. Authorized the use of interest earnings above 4 per cent to be used to assist
employers in providing an increase in superannuation allowance to retired employees
or widows who were granted allowances before April 1, 1957.
4. Changed the automatic plan of superannuation allowance to the combination with temporary annuities to age 70, but retained provision for an employee to
select any other plan or combination of plans one year before retirement.
5. Broadened the vesting on portability provisions.
6. Made provision for the Act to be extended to volunteer firemen under
certain conditions.
W. H. FORREST,
Commissioner of Municipal Superannuation.
 MUNICIPAL SUPERANNUATION REPORT,  1961/62 U 7
MUNICIPAL SUPERANNUATION FUND
Statement of Revenue and Expenditure for the Fiscal Year
Ended March 31, 1962
Revenue
Contributions as per requirements of the Municipal Superannuation Act—
Employees, section 6—
Basic 5-per-cent contributions  $4,053,534.36
Voluntary and special agreement contributions        683,492.31
     $4,737,026.67
Employers, section 8—
In respect of current service (Schedule No. 1)  $4,028,273.95
In respect of past service (Schedule No. 1)     1,646,245.85
Special agreement bonus contributions  2,641.90
Special agreement supplementary pension payments (as
per contra)   30,238.87
5,707,400.57
Minister of Finance, section 10 (1)  85,000.00
Interest on investments and bank interest       2,775,021.71
$13,304,448.95
Expenditure
Superannuation allowances—
Paid from Fund  $1,755,113.80
Paid by employers under special agreements
(as per contra)  30,238.87
  $1,785,352.67
Refunds—
Resignations, etc., section 18      $662,246.40
Death in service, section 17  18,652.49
Miscellaneous employee  2,273.36
Miscellaneous employer  49,896.19
        733,068.44
Administration expenses, sections 22 and 30         57,246.94
       2,575,668.05
Net increase of ledger assets  $10,728,780.90
 U 8 BRITISH COLUMBIA
MUNICIPAL SUPERANNUATION FUND
Balance-sheet as at March 31, 1962
ASSGtS
Cash in bank    $ 14,744.63
Accounts receivable—current contributions due from municipalities, hospitals,
school districts, etc  974,762.60
Investments at cost or par—net after amortization of premiums and discounts
(see Schedule No. 2) (par value, $66,265,750)  64,395,567.57
Accrued interest on investments  642,548.41
$66,027,623.21
Liabilities
Municipal Superannuation Fund Basic Account  $48,620,628.14
Employees' Retirement Annuity Account  16,696,156.39
Victoria Agreement Bonus Account for Firemen :  7,482.27
Reserve Account  697,575.25
Accounts payable  5,781.16
$66,027,623.21
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 31, 1962,
have been examined under my direction and, 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., January 16, 1963.
 MUNICIPAL SUPERANNUATION REPORT, 1961/62
SCHEDULE No.  1
Contributions by Employer for Year Ended March 31, 1962
u 9
Employer
Total
Contributory
Salaries,
1961/62
Employer Contributions
For
Current
Service
For
Past
Service
Alberni 	
Armstrong	
Chilliwack	
Courtenay	
Cranbrook	
Dawson Creek-
Duncan	
Cities (32)
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..
Districts (29)
Burnaby 	
Central Saanich..
Chilliwhack	
Coldstream	
Delta (effective January 1, 1962)-
Esquimalt	
Fraser Mills	
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	
$57,083.29
9,600.00
60,330.34
51,520.33
197,463.70
146,733.00
63,693.74
12,390.00
65,808.99
27,350.79
6,044.16
216,848.84
435,835.19
157,762.41
20,711.00
350,165.08
488,722.39
,786,201.78
810,816.27
373,091.97
227,216.80
108,172.82
107,493.10
228,276.35
448,171.69
152,681.25
98,242.22
342,511.78
,060,721.58
246,894.14
,093,261.28
62,405.62
$2,919.72
384.00
2,485.65
2,257.05
9,784.37
6,154.75
2,756.75
495.60
3,228.47
1,445.30
348.52
11,441.42
20,592.27
7,719.16
802.04
17,094.98
24,172.89
105,668.51
43,182.33
17,618.30
11,995.49
4,789.11
4,861.70
11,546.44
21,530.86
7,489.09
4,920.05
19,308.71
1,316,849.36
12,199.19
181,123.76
3,203.08
$3,162.
36,
49,
27,
2.
220.
,712.17
,369.87
,428.00
,187.00
,501.20
,774.75
West Vancouver..
22,
327,
162,
100.
153,
87.
103,
1,147.
434.
4.
17,
300,
787,
1,208,
29.
6.
43,
92.
1,191.
262.
52,
887,
852.25
,454.57
769.51
260.00
095.00
264.05
977.90
847.61
,541.23
,200.00
,818.49
,730.98
,724.19
,370.17
,838.98
,375.00
,593.18
,420.62
,544.81
.190.79
,817.50
,539.22
$152,604.45
2,353.06
1,920.07
1,260.56
99.96
10,795.88
1,231.71
14,739.17
7,907.62
4,812.13
8,359.64
4,782.03
4,954.37
54,794.51
25,782.49
168.00
685.25
16,326.95
36,620.64
66,002.20
1,517.43
237.00
2,391.20
4,579.29
60,797.33
17,551.36
2,712.20
43,721.66
Sub-totals of 28 active district accounts...
$10,924,199.04    |       $549,708.16
$1,347.00
413.04
590.04
591.96
50~04
6,555.00
6,909.96
8,273.04
53,620.08
16,631.04
263.04
4,515.96
1,104.00
341.04
1,632.94
5,007.96
1,787.04
1,631.04
634,629.25
2,874.00
112,991.04
$34,514,221.90    f   $1,880,368.92    |       $861,758.51
$15,213.96
1,251.00
885.96
2,238.96
302.04
834.00
147.96
69.00
219.96
3,048.96
7,590.00
56.04
1,628.04
854.04
7,920.26
111.96
2,895.00
5,762.04
13,304.04
7,286.04
$71,619.26
 U 10                                                    BRITISH COLUMBIA
SCHEDULE No.  1—Continued
Contributions by Employer for Year Ended March 31, 1962-
-Continued
Employer
Total
Contributory
Salaries,
1961/62
Employer Contributions
For
Current
Service
For
Past
Service
Towns (4)
$53,768.00
67,627.00
85,679.74
60,780.00
$2,543.72
3,714.60
3,857.66
3,087.24
$746.04
152.04
Quesnel    .   	
24.00
Sub-totals of 4 towns   	
$267,854.74    1         $13,203.22
$922.08
Villages (57)
$13,710.95
8,200.00
3,050.00
12,420.00
52,100.10
24,914.44
4,140.00
17,716.24
40,096.45
3,508.37
$649.31
288.00
122.00
643.80
2,665.68
1,076.01
165.60
1,002.50
1,586.74
140.34
Ashcroft 	
$176.04
Creston 	
9,190.22
4,080.00
11,239.16
367.60
163.20
490.24
1,637.33
2.04
426.96
Hope  	
32,509.80
135.96
15,034.76
3,525.00
601.42
271.00
Keremeos    	
15,739.65
12,960.00
31,795.27
6,617.18
11,535.00
1,002.44
732.00
1,453.65
456.66
417.50
480.00
14.00
4,500.00
5,550.00
24,149.90
3,840.00
180.00
253.00
895.80
307.20
206.04
Natal
3,165.42
14,728.83
4,500.00
9,600.00
126.60
725.22
180.00
384.00
33.96
8,400.00
20,823.89
9,130.00
8,100.00
38,095.68
3,925.00
8,956.00
294.00
1,024.95
365.20
415.00
1,691.06
314.00
561.84
243.00
Spchdt
Slocan   	
26,600.00
31,792.47
1,398.30
1,572.64
Taylor
Telkwa
Torino
930.00
701.88
1,793.66
15,650.00
18,297.00
32,349.27
WarfiplH
$626,236.05    |         $30,047.37
$1,718.00
 MUNICIPAL SUPERANNUATION REPORT,  1961/62 U 11
SCHEDULE No.  1—Continued
Contributions by Employer for Year Ended March 31, 1962—Continued
Employer
Total
Contributory
Salaries,
1961/62
Employer Contributions
For
Current
Service
For
Past
Service
Miscellaneous Employers (18)
Burnaby Public Library  .  _
Civic Properties Commission (Chilliwack) 	
Cultus Lake Park Board	
Family and Children's Service (Victoria)	
Greater Nanaimo Water District  	
Greater Vancouver Sewerage and Drainage District —
Greater Vancouver Water District  	
Greater Victoria Water District  _	
Nelson Civic Centre  	
Nelson Municipal Library  _	
North Shore Union Board of Health  —	
Queensborough Bridge Toll Authority	
Trail-Tadanac Parks Commission ~ 	
University Endowment Lands—	
Vancouver Housing Authority 	
Vancouver Public Aquarium Association 	
Vernon Civic Arena — — 	
Victoria Civic Arena  	
Sub-totals of 18 miscellaneous employers	
Hospitals by Location (84)
Abbotsford—Matsqui-Sumas-Abbotsford 	
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 General 	
Duncan—King's Daughters' 	
Enderby—Enderby and District Memorial 	
Esperanza—Esperanza General	
Fernie—Fernie Memorial   	
Fort St. John—Providence  	
Ganges—Lady Minto . 	
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 General	
Kitimat—Kitimat General 	
Ladysmith—Ladysmith and District General 	
Lillooet—Lillooet District _ 	
Merritt—Nicola Valley G eneral 	
Michel—Michel  	
Mission—Mission Memorial   	
Murrayville—Langley Memorial  	
Nakusp—Arrow Lakes  	
Nanaimo—Nanaimo General  —	
Nelson—Kootenay Lake General 	
New Denver—Slocan Community 	
$49,094.39
6,600.00
4,710.00
84,942.33
43,981.93
598,664.88
1,145,668.71
123,117.01
19,726.14
2,832.49
119,908.34
43,192.50
59,494.99
142,906.48
31,746.66
27,918.00
6,000.00
12,803.04
$2,097.11
264.00
376.80
4,089.78
2,433.19
30,217.96
57,014.12
5,203.29
960.66
169.95
5,288.30
2,156.38
2,659.79
7,991.40
1,983.57
1,368.42
240.00
512.16
$2,523,307.89    |       $125,026.88
$135,385.01
67,849.30
25,928.85
39,761.74
30,931.05
51,358.20
648,389.31
22,995.70
125,353.39
41,752.31
25,166.13
339,717.19
103,546.53
127,364.88
75,825.78
63,326.41
85,234.50
322,224.84
28,071.21
22,390.00
65,476.00
56,140.95
19,193.00
33,679.62
14,418.00
133,046.99
104,157.79
50,122.15
23,241.10
470,159.43
15,061.75
451,206.75
108,637.35
45,318.78
66,882.96
24,017.03
34,324.08
16,165.00
110,742.92
186,655.29
3,390.49
292,998.16
252,340.99
16,836.52
$5,366.89
3,228.74
1,555.73
1,631.64
1,238.32
2,078.66
25,890.08
918.67
5,846.99
1,779.59
1,035.24
13,912.55
4,720.02
5,469.40
3,362.88
3,242.02
3,711.72
14,612.39
1,512.57
955.70
2,756.11
2,430.43
1,157.88
1,304.86
713.41
5,559.02
4,278.90
1,799.26
734.67
19,350.26
672.44
19,453.39
5,440.66
1,703.42
3,245.09
720.52
1,443.05
484.95
5,067.47
7,942.16
101.66
13,603.63
11,974.69
959.78
$547.00
906.99
4,544.76
11,274.04
732.96
747.96
404.04
2,913.00
$22,070.75
$1,582.74
2,119.98
933.96
2,115.50
114.24
101.00
9,326.28
705.96
1,668.96
370.26
177.00
8,351.28
3,349.98
3,324.00
1,905.21
2,360.28
2,296.71
9,847.98
1,454.04
2,446.00
1,806.00
225.78
1,262.04
413.18
725.16
1,719.27
443.01
92.55
24.00
10,204.71
291.00
11,876.28
4,498.47
3,077.76
27.00
690.21
288.72
2,423.97
4,566.24
336.00
9,247.26
8,398.50
674.04
 U 12 BRITISH COLUMBIA
SCHEDULE No. I—Continued
Contributions by Employer for Year Ended March 31, 1962—Continued
Employer
Total
Contributory
Salaries,
1961/62
Employer Contributions
For
Current
Service
For
Past
Service
Hospitals by Location—Continued
New Westminster—•
Royal Columbian .
St. Mary's .
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 and District.
Prince Rupert—Prince Rupert General	
Princeton—Princeton General- 	
Queen Charlotte City—Queen Charlotte Islands General.
Quesnel—G. R. Baker Memorial 	
Revelstoke—Queen Victoria — — 	
Rossland—Mater Misericordiae   	
Salmon Arm—Shuswap Lake General-
Sidney—Rest Haven.
Smithers—Bulkley Valley District	
Squamish—Squamish General	
Summerland—Summerland General..
Surrey—Surrey Memorial	
Tofino—Torino General....,	
Trail—Trail Tadanac...  	
Vancouver—■
Children's— —
Vancouver General	
G. F. Strong Rehabilitation Centre...
Grace   	
Mount St. Joseph's.
St. Paul's i	
St. Vincent's	
Vanderhoof—St. John's —
Vernon—Vernon Jubilee .
Victoria—
Gorge Road
Queen Alexandra Solarium..
Royal Jubilee 	
St. Joseph's..
White Rock—White Rock District _
Williams Lake—War Memorial	
Sub-totals of 84 hospitals..
School Districts (48)
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)	
$1,690
360
536.
31.
59,
33,
349
211
30
272,
225,
220,
34,
19
75.
49
46,
127,
20.
66
34,
52,
320,
21,
391,
.332.22
418.95
408.22
235.44
149.38
487.00
031.28
815.21
456.00
407.35
807.90
210.40
313.49
381.00
824.33
.378.41
992.00
385.11
778.64
145.33
537.60
103.40
909.15
577.50
384.27
291
6,335
155
306.
166
1,709.
305
28
257
,053.16
,591.58
,236.27
917.98
,109.92
993.37
590.00
,005.56
,058.90
46,264.98
119,287.67
1,615,972.55
1,144,001.25
111,838.20
93,834.58
$77,675.61
13,474.14
23,989.27
1,077.99
2,574.20
1,373.97
16,305.91
10,274.13
1,305.88
11,613.25
9,033.31
9,672.70
1,833.81
745.20
3,254.08
2,498.77
2,110.39
6,116.88
1,172.36
2,450.75
1,473.25
2,323.51
11,812.43
901.71
17,332.72
13,216.86
261,322.13
6,416.06
12,985.10
7,103.40
74,568.94
13,818.24
1,129.07
12,817.76
2,164.99
5,262.76
69,591.93
52,091.23
5,512.30
3,886.91
$168,689.51
15,450.00
35,532.39
784,564.63
47,359.50
75,897.00
105,268.66
97,129.04
168,924.86
88,465.54
43,204.36
28,248.80
798,203.04
55,390.08
161,003.67
158,054.35
48,566.58
118,773.97
33,130.07
$9,689.25
705.75
1,703.76
37,332.25
2,539.71
3,476.79
4,982.93
6,367.07
4,168.24
4,813.90
2,022.49
1,636.31
38,868.17
2,719.60
6,793.92
7,829.03
2,306.14
6,000.20
1,834.19
$67,805.52
4,643.79
18,822.96
155.04
1,196.46
237.96
8,749.29
9,225.78
227.04
7,254.78
3,212.28
4,289.22
1,202.04
37.50
1,308.00
1,275.27
3,061.76
2,844.24
1,655.28
578.28
1,359.96
1,755.75
2,676.24
186.51
12,717.51
13,215.54
58,124.22
3,100.50
8,668.53
4,844.01
55,111.26
10,666.74
493.47
9,879.00
2,378.04
23,779.26
32,701.50
2,824.71
621.24
$22,945,010.98    |       $989,251.41    |       $500,748.99
$3,252.96
775.20
2,295.00
123.00
1,290.00
53.04
57.96
648.00
11,810.04
165.00
756.00
179.04
1,732.94
375.00
 1
MUNICIPAL SUPERANNUATION REPORT,  1961/62 U  13
SCHEDULE No.  1—Continued
Contributions by Employer for Year Ended March 31, 1962—Continued
Employer
Total
Contributory
Salaries,
1961/62
Employer Contributions
For
Current
Service
For
Past
Service
School Districts—Continued
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)..
Southern Okanagan (No. 14)  —	
Summerland (No. 77) (effective May 1, 1961) ..
Terrace (No. 53)	
Trail (No. 11)     	
Vancouver (No. 39)	
Vanderhoof (No. 56) __ 	
Vernon (No. 22) _..
West Vancouver (No. 45)..
Williams Lake (No. 27)	
Sub-totals of 48 school districts	
Totals of 255 active employer accounts .
$23,469.96
66,578.43
279,509.35
106,775.41
169,106.29
409,253.95
56,301.00
103,199.58
153,651.51
32,109.25
22,400.00
23,043.10
64,015.00
368,077.30
65,549.60
64,502.62
52,009.34
10,974.00
62,856.00
78,257.87
58,297.00
9,181.00
54,504.00
177,998.96
3,189,499.03
42,963.75
97,712.30
149,622.43
78,152.06
9,101,426.14
$1,024.91
2,965.97
15,270.94
5,643.46
8,869.93
21,963.27
3,304.56
5,177.46
7,695.16
1,284.36
1,140.80
1,000.24
3,265.40
13,846.38
3,960.24
3,155.13
3,455.39
631.00
3,035.41
4,229.42
3,501.40
376.50
2,533.56
8,835.13
150,811.15
2,270.00
4,379.67
7,955.64
3,295.81
$440,667.99
$80,902,256.74    I    $4,028,273.95
$12,356.00
1,068.00
3,327.96
3,027.00
363.00
258.00
120.00
309.00
536.04
611.04
758.04
117.96
219.96
140,581.04
39.00
158.04
45.00
$187,408.26
$1,646,245.85
 U 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 31, 1962
Government of Canada guaranty— Par Value                 Book Value
Canadian National Railways  $40,000.00              $39,844.74
Province of British Columbia  245,000.00              244,482.66
Province of British Columbia guaranty—
British Columbia Hydro and Power Authority
term note  325,000.00              325,000.00
British Columbia Power Commission term note 800,000.00              800,000.00
British Columbia Power Commission  6,969,500.00           6,858,186.78
British Columbia Electric Company Limited— 1,875,750.00           1,699,357.16
British Columbia Toll Highways and Bridges
Authority  1,671,000.00           1,682,912.56
Pacific Great Eastern Railway Company  3,426,000.00           3,337,283.36
Greater Vancouver Water District  855,000.00             830,772.78
Vancouver and District Joint Sewerage  and
Drainage Board  25,000.00                25,226.30
Greater Vancouver  Sewerage  and  Drainage
District  3,169,000.00           3,142,465.60
British Columbia school district serials  36,552,200.00         35,166,727.73
British Columbia municipal serials  2,565,500.00           2,450,324.21
British Columbia hospital improvement district serials  712,000.00              710,012.00
British Columbia fire protection  and waterworks district serials  431,300.00              411,611.80
Alberta Government guaranty—
Alberta Government Telephone Commission.. 130,000.00              127,620.94
Alberta Municipal Financing Corporation  450,000.00             437,385.22
Province of Manitoba  1,705,000.00           1,707,199.57
Province of Ontario guaranty—
Ontario Hydro-electric Power Commission.— 89,500.00                89,500.00
Ontario Municipal Improvement Corporation 1,830,000.00           1,862,977.66
University of Toronto  1,832,000.00           1,876,182.10
Province of Quebec  317,000.00             322,749.10
Province of Quebec guaranty—Quebec Hydro  250,000.00              247,745.30
$66,265,750.00       $64,395,567.57
 MUNICIPAL SUPERANNUATION REPORT,  1961/62
U  15
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 U 16 BRITISH COLUMBIA
SCHEDULE No. 4
Municipal Superannuation Fund
Comparative Statistics, April 1,1946, to March 31,1962,
Subdivided According to Sex of Contributor
Fiscal Year
Number of
Contributors
Male    Female
Number of
Refunds
Granted
Male    Female
Superannuation Allowances
Granted
during
Year
Male Female
Deaths and
Expirations
Male    Female
In Force at
End of Year
Male    Female
1946/47  	
1947/48   -	
1948 /49 _	
1949/50	
1950/51 — -	
1951/52 	
1952/53  .._	
1953/54     	
1954/55...   —
1955/56—1
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
1958/59—
Maximum retirement age 65
Maximum retirement age 60
1959/60—
Maximum retirement age 65
Maximum retirement age 60
1960/61—
Maximum retirement age 65
Maximum retirement age 60
1961/62—
Maximum retirement age 65
Maximum retirement age 60
3,340
3,770
4,199
4,595
4,763
5,206
5,324
5,634
6,056
4,482
1,806
4,749
1,861
5,126
1,917
7,086
2,093
7,673
2,130
8,995
2,132
9,348
2,160
869
937
1,190
1,312
1,525
1,594
1,649
1,801
1,931
1,981
1,886
2,150
2,770
2,946
6,832
7,181
198
245
196
170
296
393
325
302
261
315
56
451
50
275
44
283
21
376
20
385
16
463
29
217
254
245
289
369
411
459
451
539
538
662
534
561
658
886
1,295
148
139
125
107
115
78
93
79
89
60
25
51
25
40
23
55
18
55
41
100
37
116
34
23
10
9
8
15
10
10
12
14
16
18
10
11
11
95
77
44
39
41
63
62
76
69
73
91
60
14
69
13
70
16
49
10
62
19
72
12
74
22
10
_
9
1,570
1,670
1,754
1,798
1,851
1,853
1,877
1,883
1,881
1,421
474
1,403
486
1,373
493
1,379
501
1,372
523
1,400
548
1,442
560
135
142
150
156
165
171
174
185
194
198
206
210
212
215
303
372
i From year 1955/56 the figures are based on new actual count.
 MUNICIPAL SUPERANNUATION REPORT,  1961/62 U  17
SCHEDULE No. 5
Municipal Superannuation Fund
Comparative Statistics, April 1,1952, to March 31,1962—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
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1952/53—
8
1
14
19
9
52
16
1
9
28
12
1
9
295
34
229
574
25
455
68
368
3
Totals           	
23
19
9
52
26
28
13
9
558 | 599 [ 523 |    371
1953/54—
3
8
3
6
69
2
19
2
9
22
10
2
9
1
279
32
228
555
25
451
66
428
2
Death                      	
2
Totals        	
11
3
6
71
30
22
12
10
539 | 580 | 517 |    432
1954/55—
2
6
6
2
82
5
13
6
39
5
15
10
7
1
268 | 522
32       20
228
438
56
503
1
7
Totals            -	
8
6
2
87
19
44
25
8
528 | 542 | 494 |    511
1955/56—1
3
1
13
4
4
1
71
4
17
1
7
34
2
9
2
11
195
34
233
1
384 j 406
18       56
755
1
11
Totals         	
17
4
5
75
25
36
11
11
462 | 402 | 462 [    767
1956/57—
1
12
6
5
1
64
1
4
14
3
9
34
3
13
2
13
1
182
31
236
356
15
398
55
806
1
Death                    - -	
15
Totals    — — -
13
6
6
69
26
37
15
14
449 | 371 | 453 |    822
1957/58—
2
7
2
1
59
~2
17
1
5
32
1
21
1
14
167
30
238
326
14
378
54
851
1
Death     	
17
Totals    — 	
9
2
1
61
23
33
22
14
435 | 340 1 432 |    869
1958/59—
3
9
7
2
1
56
6
9
1
4
17
2
19
1
13
2
161
29
243
316
12
361
54
Disability.... — ....
Death     .             -	
1
21
Totals        	
12
7
3
62
14
19
20
15
433  | 328 | 415  |    916
1959/60—
3
9
2
--
4
75
9
11
3
13
31
3
11
2
15
153
26
239
290
10
354
53
954
1
Death   „                 -  	
30
Totals   _	
12
6
5
84
27
34
13
15
418 [ 300 | 407 |    985
1960/61—
56
15
21
1
9
1
119
10
17
5
4
26
1
20
3
14
1
192
21
250
i
285  | 343
10 |    51
   1
1,059
1
Death
39
Totalis
71
22
10
129
26
27
23
15
463 | 295 | 394 | 1,099
1961/62—
34
14
11
5
12
144
7
13
10
24
21
4
32
213
21
254
272
15
334
47
1,171
1
46
Disability	
Death _       	
Totals	
48
16
12
151
23
24
25
32
488  I  287
381
1,218
i From 1955/56 the figures are based on the actual count by plan in force.
 U  18 BRITISH COLUMBIA
SCHEDULE No. 6
Municipal Superannuation Fund
Number of Contributors and Pensioners by Employer, as at March 31,1962
Employer
Contributors
Pensioners
Total Contributors and
Pensioners
Class I
Class II
Class III
Cities (32)
11
2
13
91*
34
26
12
3
17
6
1
35
86
24
4
5U*
803*
170
122
67
50
24
15
38
62
291*
16
68
2,5793*
46
360
11
6
2
2
9
8
6
15
16
110
302*
10
4
9
11
5
111*
1,3162*
9
186
1
1
2
3
3
7
2
1
1
2
20
4
1
4
11
54
15
10
4
4
2
6
171*
1
2
2
781
3
91
3
1
3
2
7
2
3
2
1
24
16
1
20
32
69
53
7
2
2
1
1
11
3
1
12
991
11
191
13
2
18
141*
50
35
16
6
Fernie      —
22
7
2
70
130
35
5
901*
Nelson     ,  	
1393*
403
2202*
94
56
30
22
54
1011*
331*
24
Trail	
931*
Vancouver.— 	
5,6675*
69
Victoria      	
White Rock               _ .   . .
828
15
Sub-totals of 32 cities 	
4,0719*
1,7665*
1,0571*
1,469
8,36315*
Districts (29)
4871*
4
5
7
1
29
6
35
40
23
28
18
18
168
53
1
4
45
108
168
7
1
10
20
236
11
6
122
94
2
11
12
7
2
43
30
12
191*
60
12
38
4
31
61
1
9
1
3
9
4
4
4
1
3
19
10
1
5
25
25
1
1
1
6
31
3
121*
33
3
4
5
1
2
21
21
2
7
25
1
1
1
16
8
23
6751*
7
Chilliwhack—	
17
8
Delta	
1
47
Kent    	
6
56
Langley   	
Maple Ridge    -	
49
28
39
Mission	
21
23
251
Oak Bay 	
114
1
5
64
1591*
Saanich    	
278
9
3
11
Summerland    	
27
295
Tadanac	
57
13
1881*
Sub-totals of 28 active district accounts
1,6611*
3771*
2401*
174
2,4523*
* Inactive accounts, but eligible for pension benefits.
 MUNICIPAL SUPERANNUATION REPORT, 1961/62 U  19
SCHEDULE No. 6—Continued
Municipal Superannuation Fund—Continued
Number of Contributors and Pensioners by Employer, as at March 31,1962—
Continued
Employer
Contributors
Pensioners
Total Contributors and
Pensioners
Class I
Class II
Class III
Towns (4)
Fort St. John  	
11
13
15
14
1
3
1
1
2
1
1
15
15
17
Quesnel   -
16
53
1        1              7
2                      63
Villages (57)
3
1
1
3
9
4
1
3
8
1
2
1
3
8
3
1
4
3
6
2
2
2
4
1
1
1
4
1
2
2
5
2
2
10
1
2
5
7
3
4
	
1
1
1
1
2
1
1
1
2
1
1
2
1
1
1
2
4
Alert Bay                                  	
2
1
3
10
5
1
5
8
1
2
2
4
8
3
Kaslo      	
1
Keremeos        - 	
5
3
6
2
Lumby     —
3
Natal	
Marysville     —	
2
8
1
1
4
Parksville  	
2
2
2
Salmo    	
2
10
Sechelt  	
1
3
Slocan    —
6
Squamish
Stewart 	
9
Taylor  -
Telkwa   	
Torino   —
Ucluelet  	
	
Vanderhoof   	
Warfleld  	
4
5
 U 20 BRITISH COLUMBIA
SCHEDULE No. 6—Continued
Municipal Superannuation Fund—Continued
Number of Contributors and Pensioners by Employer, as at March 31,1962—
Continued
Employer
Contributors
Pensioners
Total Con-
tributors and
Pensioners
Class I
Class II
Class III
Villages—Continued
4
2
6
Sub-totals of 41 active village accounts — -
132
19
3
154
Miscellaneous Employees (18)
3
1
1
8
7
851*
220
21
3
4
9
12
12
7
4
1
2
16
9
19
1
3
13
1
1
1
22
1
1
1
1
14
34
5
7
12
Civic Properties Commission (Chilliwack)—
1
1
Family and Children's Service (Victoria) —
27
8
Greater Vancouver Sewerage and Drainage District —	
1021*
267
27
4
1
26
Queensborough Bridge Toll Authority	
Trail-Tadanac Board of Park Commission-
9
13
36
8
Vancouver Public Aquarium Association , .
Vernon Civic Arena '—  —
5
1
2
Sub-totals of 18 miscellaneous employers 	
4001*
16
74
60
5501*
Hospitals by Location (84)
Abbotsford—Matsqui-Sumas-Abbotsford	
4
8
1
1
29
2
6
2
18
6
6
3
4
4
15
2
2
1
1
1
8
7
3
1
41
17
7
12
8
12
169
11
33
14
9
97
27
38
18
14
25
74
10
5
17
18
6
9
4
35
22
14
7
1
2
2
1
___
5
1
1
1
5
1
2
1
1
1
46
27
7
12
9
13
200
14
Campbell River—Campbell River and Dis-
39
16
9
117
Comox—St. Joseph's General  	
38
45
21
19
Dawson Creek—St. Joseph's General	
30
94
Enderby.—Enderby and District Memorial...
11
9
19
Fort St. John—Providence 	
19
8
10
5
Haney—Maple Ridge  	
44
29
17
8
* Inactive accounts, but eligible for pension benefits.
 MUNICIPAL SUPERANNUATION REPORT,  1961/62 U 21
SCHEDULE No. 6—Continued
Municipal Superannuation Fund—Continued
Number of Contributors and Pensioners by Employer, as at March 31,1962—
Continued
Employer
Contributors
Hospitals by Location—Continued
Kamloops—Royal Inland ...	
Kaslo—Victorian	
Kelowna—Kelowna General	
Kimberley—Kimberley and District General
Kitimat—Kitimat General j 	
Ladysmith—Ladysmith and District General  - _. i	
Lillooet—Lillooet District _ .	
Merritt—Nicola Valley General	
Michel—Michel  ,	
Mission—Mission Memorial	
Murrayville—Langley Memorial	
Nakusp—Arrow Lakes 	
Nanaimo—Nanaimo General..	
Nelson—Kootenay Lake General	
New Denver—Slocan Community...	
New Westminster—Royal Columbian	
New Westminster—St. Mary's 	
North Vancouver—Lions Gate	
Ocean Falls—Ocean Falls General	
Oliver—St. Martin's  	
Pender Harbour—St. Mary's	
Penticton—Pertticton  _ 	
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—G. R. Baker Memorial	
Revelstoke—Queen Victoria	
Rossland—Mater Misericordiae	
Salmon Arm—Shuswap Lake General	
Sidney.—Rest Haven 	
Smithers—Bulkley Valley District 	
Squamish—Squamish General	
Summerland—Summerland General	
Surrey—Surrey Memorial	
Tofino—Tofino General	
Trail—Trail Tadanac  	
Vancouver—
Children's..._.. __ 	
Vancouver General   	
G. F. Strong Rehabilitation Centre	
Grace     ,	
Mount St. Joseph's —- ...	
St. Paul's - 	
St. Vincent's  	
Vanderhoof—St. John . .	
Vernon—Vernon Jubilee	
Victoria—
Gorge Road   	
Queen Alexandra Solarium	
Royal Jubilee	
St. Joseph's    	
White Rock—White Rock District	
Williams Lake—War Memorial	
Sub-totals of 84 hospitals	
Class I
23
4
6
3
10
14
15
1
92
15
34
1
3
1
20
10
1
10
10
9
2
4
2
1
8
1
2
1
1
11
1
15
3
4932*
18
5
12
108
11
3
15
3
12
100
91
6
3
1,3772*
Class II
Class III
Pensioners
116
6
114
29
11
15
8
6
7
27
40
2
70
57
6
393
105
125
9
17
7
80
51
11
66
55
51
8
23
17
12
27
5
27
8
15
78
5
101
79
1,2595*
25
93
45
355
87
12
59
22
24
3362*
247
28
23
5,2857*
1
1
4
2
1
46
1
8
188
3
2
4
37
4
1
62
23
463
Total Contributors and
Pensioners
141
6
143
35
17
19
8
9
7
30
51
3
88
74
8
531
121
167
10
20
8
102
64
12
79
66
63
10
27
19
15
36
7
29
11
18
89
6
122
90
1,9407*
46
100
61
500
102
15
76
25
37
4982*
361
34
26
7,1259*
* Inactive accounts, but eligible for pension benefits.
 U 22
BRITISH COLUMBIA
SCHEDULE No. 6—Continued
Municipal Superannuation Fund—Continued
Number of Contributors and Pensioners by Employer, as at March 31,1962-
Continued
Employer
Contributors
Class I
Class II
Class III
Pensioners
Total Contributors and
Pensioners
School Districts (48)
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)..
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)..
Summerland (No. 77)—	
Terrace (No. 53). 	
Trail (No. 11)	
Vancouver (No. 39)	
Vanderhoof (No. 56)	
Vernon (No. 22)..
West Vancouver (No. 45)~
Wiuiams Lake (No. 27)	
Sub-totals of 48 school districts	
Totals of 255 active employer accounts  .	
29
2
8
169
11
15
17
22
21
17
8
6
1441*
11
29
42
12
20
5
6
13
48
22
31
83
18
16
33
7
4
5
12
54
15
16
9
2
12
16
14
2
11
38
5081*
8
20
24
20
1,6552*
9,34915*
2,1606*
15
2
1
501*
3
5
9
4
5
3
4
1
14
1
2
3
2
4
25
6
7
14
1
81*
5
1
1
2
35
4
3
4
~2
3
1
1
6
168
3
6
15
5
4983*
7,18012*
12
3
1
24
12
2
1
3
119
203
2,374
45
4
9
2311*
14
20
28
28
26
20
15
7
2122*
12
46
43
14
20
8
8
17
73
31
46
109
21
251*
38
8
5
6
14
91
20
19
13
2
14
19
15
3
11
47
7951*
11
28
40
25
2,3565*
21,06333*
* Inactive accounts, but eligible for pension benefits.
Number of inactive accounts, but eligible for pension benefits, 33;
accounts as at March 31, 1962, 170.
number of non-active unclaimed moneys
Printed by A. Sutton, Printer to the Queen's Most Excellent Majesty
in right of the Province of British Columbia.
1963
510-163-5071
  

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