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Twenty-fourth Annual Report of the Business Done in Pursuance of the MUNICIPAL SUPERANNUATION ACT for… British Columbia. Legislative Assembly 1964

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Full Text

 PROVINCE OF BRITISH COLUMBIA
Twenty-fourth Annual Report
of the Business Done in Pursuance of the
MUNICIPAL
SUPERANNUATION ACT
for the
YEAR ENDED MARCH 31
1963
Printed by A. Sutton, Printer to the Queen's Most Excellent Majesty
in right of the Province of British Columbia.
1964
  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,
1963.
WESLEY D. BLACK,
Provincial Secretary.
Provincial Secretary's Office,
Victoria, B.C., January 6, 1964.
 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, 1963.
I have the honour to be,
Sir,
Your obedient servant,
W. H. FORREST,
Commissioner of Municipal Superannuation.
January 3,1964.
 Municipal Superannuation Report, 1962/63
Report of the Business Done in Pursuance of the Municipal Superannuation Act during the Fiscal Year Ended March 31, 1963
Section 3 (1).—The following employers adopted the Act during the year
under the provisions of clause (c), (d), (/), (/'), or (/c) of this subsection, effective from the date shown:—
Employer
Effective Date
McBride and District Hospital Retroactive to July
Mills Memorial Hospital (Terrace) Retroactive to July
University Health Centre (Vancouver) Retroactive to April
National Union of Public Employees (B.C. Division) April
Fort Nelson General Hospital April
School District No. 64 (Gulf Islands) April
Holy Family Hospital (Vancouver) July
School District No. 12 (Grand Forks) July
Village of Natal September
Hospital Employees Union, Local 180	
Lower Mainland Regional Planning Board
University Hill School Board	
School District No. 19 (Revelstoke)	
School District No. 37 (Delta)	
.September
..December
-December
 January
 January
 January
1960
1960
1961
1962
1962
1962
1962
1962
1962
1962
1962
1962
1963
1963
1963
School District No. 76 (Agassiz)	
Also under section 41—
City of Courtenay Volunteer Firemen January 1, 1963
As at March 31, 1963, there were 269 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 $4,282,-
248.06, and employee voluntary and special agreement contributions amounted to
$739,928.22.   As at March 31, 1963, there were 19,235 active contributors.
Section 8.—(1) Employer contributions amounted to $4,289,756.05 in respect of current service and $1,564,546.08 in respect of past service. An amount
of $2,884.12 was refunded to sundry employers to adjust contributions made in
error.
(2) Extra employer contributions totalling $2,766.03, being one-half of 1 per
cent of salaries for Victoria firemen, were made under a special agreement with
this employer. In accordance with the provisions of individual special agreements
with 48 employers under the Act, a total of $260,857.65 was paid out in supplementing superannuation allowance payments. Of this amount, $138,045.59 was
reimbursed to the Fund by the 48 employers and $122,812.06 was paid from the
Reserve Account, derived from interest earnings of the Fund in excess of 4 per cent,
as authorized by section 10 (6) and Order in Council No. 1502, approved on June
7, 1962. The amount payable for a full year derived from excess interest earnings
will approximate $165,000.
Section 10.—(1) The Minister of Finance paid $80,000 into the Fund, which
payment was in lieu of interest on the certificates of loan under the former Act.
 R 6 BRITISH COLUMBIA
(2) The net rate of interest earnings of the Fund for the year was 4.57 per
cent, and after charging administration expenses, 4.47 per cent; therefore, no payment was required by the Minister of Finance under this subsection.
(3) An amount of $321,136.81, being the excess of the interest earnings over
the required 4 per cent, was transferred to the Reserve Account, which totalled
$895,900 as at March 31, 1963.
Section 13.—Superannuation allowances were granted to 173 contributors who
attained retirement age. For analysis, see schedules of comparative statistics
appended.
Section 16.—Superannuation allowances were granted to three contributors
under the total and permanent disability provisions.
Section 17.—Superannuation allowances were granted to the dependent in the
caseof 19 contributors who died while still in service. Refunds totalling $40,716.91
were made in the case of 35 contributors who died while still in service.
Section 18.—Refunds totalling $880,644.06 were made in the case of 1,941
contributors who left the service of their employers.
Section 22.—Actuarial and administration expenses paid from the Fund
amounted to $64,804.93. The total administration expenses of the Superannuation
Branch are distributed among the various funds administered on the basis of contributors and pensioners. A comparison of the annual unit cost per contributor
and pensioner for the last six years is as follows:—
1957/58  $2.94 1960/61  $2.77
1958/59     2.92 1961/62     2.72
1959/60     3.18 1962/63     2.73
Section 27.—The securities held by the trustees on March 31, 1963, are set
out in Schedule No. 2 of this Report. During the year $21,741,200 par value
bonds were purchased, the average yield being 5.50 per cent; $8,010,500 par value
bonds were sold at an average yield of 5.31 per cent; and $2,402,250 par value
bonds were redeemed, resulting in a net increase of $11,328,450 par value bonds
held by the trustees between April 1, 1962, and March 31, 1963. As the average
holding yield rate on the $8,010,500 par value bonds sold was only 4.55 per cent,
the sales resulted in a book loss amounting to $321,302.42, which it was necessary
to charge against 1962/63 interest earnings, reducing the net rate of interest earnings for the year from 4.94 to 4.47 per cent. However, the proceeds were reinvested in bonds with an average coupon rate of 5.23 per cent to yield 5.50 per cent,
which will more than offset the book loss in future years. The 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 at
the maximum yield possible at the time of purchase.
LEGISLATION
The Municipal Superannuation Act Amendment Act, 1963, includes the following changes:—
1. Provided for the extension of the plan by Order in Council to an improvement district incorporated under the Water Act.
2. Established a fourth retirement group for female hospital employees and
female employees of other employers under the Act, who by resolution place their
female staff in Group Four. Under Group Four the maximum retirement age is
65 years and the minimum retirement age is 60 years, with employer contribution
rates of 2.5 per cent of salary up to age 50 and 5 per cent thereafter.   This exten-
 MUNICIPAL SUPERANNUATION REPORT, 1962/63 R 7
sion of the maximum retirement age enables some employees to participate who
could not formerly meet the service requirements. Provision was made to allow
female contributors who had attained age 50 on April 1, 1963, to retire at or after
age 55 if they so desire.
3. Increased the maximum temporary annuity an employee may select at retirement age from $55 per month to $65 per month.
W. H. FORREST,
Commissioner of Municipal Superannuation.
MUNICIPAL SUPERANNUATION FUND
Statement of Revenue and Expenditure for the Fiscal Year
Ended March 31, 1963
Revenue
Contributions as per requirements of the Municipal Superannuation Act—•
Employees, section 6—
Basic 5-per-cent contributions  $4,282,248.06
Voluntary and special agreement contributions       739,928.22
$5,022,176.28
Employers, section 8—
In respect of current service (Schedule No. 1)   $4,289,756.05
In respect of past service (Schedule No. 1)      1,564,546.08
Special agreement bonus contributions   2,766.03
Special agreement supplementary pension payments (as
per contra)           138,045.59
      5,995,113.75
Minister of Finance, section 10 (1)   80,000.00
Interest on investments and bank interest      3,110,030.47
$14,207,320.50
Expenditure
Superannuation allowances—
Paid from Fund Basic Account  $1,962,235.16
Special agreement supplementary pension payments—-
Paid by former employers (as per contra) $138,045.59
Paid from Fund Reserve Account     122,812.06
        260,857.65
$2,223,092.81
Refunds—
Resignations, etc., section 18   $880,644.06
Death in service, section 17       40,716.91
Miscellaneous employee          2,542.74
Miscellaneous employer            2,884.12
— —      926,787.83
Administration expenses, sections 22 and 30         64,804.93
      3,214,685.57
Net increase of ledger assets    $10,992,634.93
 R 8
BRITISH COLUMBIA
MUNICIPAL SUPERANNUATION FUND
Balance-sheet as at March 31, 1963
Assets
Cash in bank 	
Accounts receivable—current contributions, etc., due from municipalities, hospitals, school districts, etc 	
Investments at cost or par—net after amortization of premiums and discounts
{see Schedule No. 2) (par value, $77,594,200) 	
Accrued interest on investments 	
$9,673.47
1,020,803.88
75,126,844.38
858,242.29
$77,015,564.02
Liabilities
Municipal Superannuation Fund Basic Account   $58,810,896.63
Employees' Retirement Annuity Account
Victoria Agreement Bonus Account for Firemen ...
Victoria Agreement Bonus Account for Policemen
Reserve Account 	
Accounts payable 	
17,297,815.01
9,016.30
849.04
895,900.00
1,087.04
$77,015,564.02
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, 1963,
have been examined under my direction.
Subject to the actuarial sufficiency of the Fund and the adequacy of the prescribed tables,
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.
Victoria, B.C., January 2, 1964.
C. J. FERBER, C.A.,
Comptroller-General, Province of British Columbia.
 MUNICIPAL SUPERANNUATION REPORT,  1962/63
R 9
SCHEDULE No.  1
Contributions by Employer for Year Ended March 31, 1963
Employer
Total
Contributory
Salaries,
1962/63
Employer Contributions
For
Current
Service
For
Past
Service
Cities (32)
Alberni	
Armstrong-
Chilliwack..
Courtenay..
Courtenay Volunteer Firemen (effective January 1, 1963).
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-total of 33 city accounts..
Districts (29)
Burnaby	
Central Saanich..
Chilliwhack	
Coldstream	
Delta..
Esquimalt	
Fraser Mills..
Kent	
Kitimat	
Langley	
Maple Ridge..
Matsqni
Mission	
North Cowichan....
North Vancouver..
Oak Bay_
Peachland	
Pitt Meadows-
Powell River....
Richmond	
Saanich-
Salmon Arm	
Spallumcheen^
Sumas	
Summerland..
Surrey	
Tadanac	
Terrace-
West Vancouver..
$59,807.81
13,770.00
67,206.39
59,051.50
4,560.00
202,474.44
197,781.70
68,322.22
12,695.00
76,509.76
28,385.02
7,254.68
228,948.95
502,924.53
163,611.50
29,921.29
390,253.48
502,693.91
1,799,479.18
836,909.94
390,280.31
253,495.97
113,866.90
103,222.92
264,702.11
423,010.38
144,403.22
102,946.84
328,670.14
24,475,130.23
259,771.92
3,200,929.33
81,315.75
$3,361.21
681.60
2,706.34
3,040.10
240.00
10,459.03
8,415.11
3,111.41
507.80
3,594.48
1,499.15
396.63
12,377.86
23,621.58
8,232.80
1,169.71
19,799.23
24,462.06
107,423.26
45,284.47
18,577.97
13,494.26
5,107.59
4,906.44
13,204.85
21,256.28
7,358.52
5,221.43
18,653.36
1,348,523.57
13,306.35
191,900.51
4,130.45
$3,352,602.11
37,175.84
59,827.70
30,073.00
14,579.12
230,370.38
23,666.20
325,804.63
194,466.80
116,799.60
181,847.00
97,247.36
108,528.55
1,212,342.40
491,011.85
2,800.00
21,108.41
308,336.68
843,121.15
1,248,213.24
31,313.50
6,780.00
51,546.07
101,861.26
1,300,268.00
265,961.63
67,069.75
937,834.35
Sub-totals of 28 active district accounts...
$11,662,556.58
$163,389.78
2,420.31
2,452.62
1,362.82
581.76
11,156.46
1,279.16
14,663.60
9,558.97
5,599.67
9,921.87
5,658.94
5,280.23
58,981.07
28,916.04
112.00
814.35
16,799.79
41,010.14
67,800.02
1,584.42
251.40
2,733.91
5,023.12
68,146.08
18,005.19
3,361.07
46,777.73
$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
2,046.06
5,007.96
1,787.04
1,631.04
635,445.00
2,874.00
112,991.04
$35,394,307.32    |    $1,946,025.41    |       $862,987.38
$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
37.36
1,628.04
854.04
8,083.92
111.96
2,895.00
5,762.04
13,304.04
7,286.04
$593,642.52
$71,764.24
 R 10
BRITISH COLUMBIA
SCHEDULE No.  1—Continued
Contributions by Employer for Year Ended March 31, 1963—Continued
Total
Contributory
Salaries,
1962/63
Employer Contributions
Employer
For
Current
Service
For
Past
Service
Towns (4)
Pnrf St, Tnhn
$56,584.80
62,229.00
97,647.53
59,620.00
$2,718.21
3,549.26
4,550.96
2,838.30
$746.04
152.04
24.00
Sub-totals of 4 towns	
$276,081.33
$13,656.73
$922.08
Villages (61)
Abbotsford
$14,299.48
$661.43
7,150.00
7,213.00
18,192.63
61,935.01
23,611.43
238.00
366.52
955.68
3,424.55
1,066.49
$176.04
6,915.00
18,534.08
37,352.39
4,193.99
276.60
1,054.52
1,494.06
167.75
9,360.00
4,080.00
15,742.31
553.80
163.20
618.43
26.90
426.96
finlrfen
31,668.83
1,592.03
135.96
15,480.04
3,360.00
619.19
268.80
23,588.58
12,960.00
33,015.29
8,748.50
12,870.00
1,327.11
732.00
1,521.14
541.90
610.80
480.00
4,500.00
9,108.00
180.00
364.32
22,216.83
6,910.00
3,734.40
4,021.60
15,055.16
3,750.00
12,599.50
810.98
452.40
133.00
160.92
827.45
150.00
623.96
206.04
Natal (effective September 1, 1962)
33.96
8,400.00
26,099.19
9,365.00
8,400.00
39,818.52
4,200.00
9,888.00
294.00
1,247.47
374.60
504.00
2,054.14
336.00
601.92
243.00
Sechelt
Sidney    „        	
1,475.80
1,589.24
25,900.00
33,688.34
Vanderhoof	
13,160.42
844.12
 MUNICIPAL SUPERANNUATION REPORT,  1962/63
R 11
SCHEDULE No.  1—Continued
Contributions by Employer for Year Ended March 31, 1963—Continued
Employer
Total
Contributory
Salaries,
1962/63
Employer Contributions
For
Current
Service
For
Past
Service
Villages—Continued
Warfield	
Williams Lake.
Zeballos	
Sub-totals of 42 active village accounts .
Miscellaneous Employers (21)
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.—  	
Hospital Employees' Union, Local 180 (effective September
1, 1962).   	
Lower Mainland Regional Planning Board (effective December 1, 1962)	
National Union of Public Employees  (effective April 1,
1962)... __     	
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 Memorial Arena.
Sub-totals of 21 miscellaneous employers..
Hospitals by Location (89)
Abbotsford—Matsqui-Sumas-Abbotsford. 	
Alert Bay—St. George's ..
Armstrong—Armstrong and 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 Nelson—Fort Nelson General (effective April 1, 1962)
Fort St. John—Providence	
Ganges—Lady Minto.
Golden—Golden and District General-
Grand Forks—Boundary „.-	
Haney—Maple Ridge	
Hazelton—Wrinch Memorial	
Hope—Fraser Canyon-
Invermere—Windermere District..
Kamloops—Royal Inland 	
Kaslo—Victorian	
$18,112.00
32,226.67
$694.28
1,823.08
31,424.19
$54,030.14
6,600.00
5,160.00
122,765.34
41,105.44
631,721.50
1,067,526.14
125,914.49
18,851.80
9,237.00
16,302.00
13,839.59
2,927.01
142,912.87
37,693.40
62,825.30
145,042.07
30,470.38
35,429.00
7,800.00
13,723.07
$2,591,876.54
$155,026.12
76,045.00
27,197.50
31,381.26
29,128.37
44,606.58
722,116.40
35,588.91
131,504.85
64,231.41
29,308.97
371,875.24
111,562.18
149,704.64
77,367.13
68,677.06
118,688.00
350,595.93
30,325.63
28,820.00
70,182.42
18,660.95
66,348.10
20,475.70
34,631.69
12,327.00
177,470.37
98,542.88
44,645.90
30,598.44
507,385.37
10,600.60
$33,795.68    |
$1,728.86
$2,273.07
264.00
413.80
6,171.54
2,630.20
31,425.31
56,125.44
5,152.02
1,365.04
397.48
622.45
757.74
175.62
6,127.53
1,953.46
2,848.50
8,422.59
2,093.01
1,647.84
312.00
548.95
$131,727.59
$6,529.76
3,589.28
1,631.97
1,384.69
1,196.07
1,663.91
29,270.47
1,515.31
6,099.57
2,511.25
1,207.61
15,110.48
4,940.85
6,445.65
3,709.07
3,534.50
4,825.91
15,834.92
1,687.23
1,123.60
2,803.76
686.32
2,925.75
1,205.35
1,501.78
658.60
6,992.43
4,352.23
1,719.62
956.20
20,867.37
504.22
$547.00
3,627.96
4,985.04
11,278.04
732.96
747.96
404.04
2,913.00
$25,236.00
$1,992.96
2,078.04
933.96
1,695.00
456.96
396.00
9,390.00
705.96
1,668.96
383.04
177.00
8,487.00
3,335.35
3,630.00
1,911.96
2,406.00
2,388.96
10,086.85
1,454.04
1,326.00
1,806.00
186.00
1,262.04
233.04
786.54
1,740.96
1,782.06
139.08
24.00
10,330.96
291.00
 R 12
BRITISH COLUMBIA
SCHEDULE No.  1—Continued
Contributions by Employer for Year Ended March 31,1963-
-Continued
Employer
Total
Contributory
Salaries,
1962/63
Employer Contributions
For
Current
Service
For
Past
Service
Hospitals by Location—Continued
Kelowna—Kelowna General	
Kimberley—Kimberley and District	
Kitimat—Kitimat General	
Ladysmith—Ladysmith and District General	
Lillooet—Lillooet District.. 	
McBride—McBride and District (effective July 1, 1960)	
Merritt—Nicola Valley General	
Michel—Michel   	
Mission—Mission Memorial  	
Murrayville—Langley Memorial	
Nakusp—Arrow Lakes 	
Nanaimo—Nanaimo Regional 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—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—G. R. Baker Memorial  	
Revelstoke—Queen Victoria   	
Rossland—Mater Misericordise — 	
Salmon Arm—Shuswap Lake General  	
Sidney—Rest Haven	
Smithers—Bulkley Valley District   	
Squamish—Squamish General	
Summerland, West—Summerland General  	
Surrey, North—Surrey Memorial  	
Terrace—Mills Memorial (effective July 1, 1960;   contribution from January 1, 1963)  	
Tofino—Tofino General 	
Trail—Trail-Tadanac  	
Vancouver—
Children's	
Vancouver General	
G. F. Strong Rehabilitation Centre	
Grace	
Holy Family (effective July 1, 1962)	
Mount St. Joseph's	
St. Paul's  _
St. Vincent's _     	
University Health Centre (effective April 1, 1961) 	
Vanderhoof—St. John  	
Vernon—Vernon Jubilee	
Victoria—
Gorge Road    	
Queen Alexandra Solarium    	
Royal Jubilee	
St. Joseph's  	
White Rock—White Rock District   	
Williams Lake—Cariboo Memorial	
Sub-totals of 87 active hospital accounts 	
School Districts (54)
Agassiz (No. 76) (effective January 1, 1963)..
Alberni (No. 70)..
Alert Bay (No. 73)..
$503,404.97
127,212.31
101,622.89
62,014.16
24,270.86
15,616.05
28,109.00
28,401.00
106.600.73
190,283.33
2,874.88
339,059.98
261,670.89
22,432.46
1,781,443.02
383,719.42
745,103.68
39,704.89
64,479.53
31,136.00
360,011.42
224,294.99
29,502.50
277,961.94
244,224.06
217,801.24
28,851.96
20,094.00
108,518.63
64,292.88
44,946.50
136,845.10
25,462.00
76,380.30
32,766.60
57,210.50
300,773.42
17,175.00
13,963.00
432,837.71
322,299.45
6,767,154.31
207,281.19
337,756.69
171,070.65
1,786,932.71
306,573.60
38,570.42
252,115.26
105,349.18
129,864.87
1,721,015.67
1,338,728.65
126,505.83
84,742.76
$25,014,655.64
$4,699.23
181,662.44
19,965.00
$22,324.57
6,424.47
3,402.64
2,944.94
832.23
1,019.99
1,023.61
881.58
4,862.37
8,291.93
86.22
15,046.17
11,991.29
1,181.62
82,213.89
14,484.17
31,458.11
1,534.16
2,836.33
1,250.48
17,118.35
10,420.75
1,273.20
12,446.83
9,656.10
9,383.54
1,736.66
808.74
4,437.68
3,059.85
2,032.47
6,676.85
1,070.55
3,079.17
1,216.15
2,746.40
11,395.92
677.52
597.47
19,369.83
14,764.24
280,319.72
8,608.20
14,746.96
7,145.51
76,972.80
13,861.09
1,558.67
12,528.90
5,057.65
5,929.07
75,286.46
59,432.84
6,111.45
3,812.01
$1,078,416.10
$11,895.00
4,803.00
3,068.04
27.00
894.96
384.96
2,475.00
4,620.96
336.00
9,503.04
8,673.00
674.04
68,053.90
4,673.04
18,919.96
155.02
1,191.96
237.96
8,810.04
9,231.00
227.04
7,548.00
3,249.00
4,167.00
1,202.04
150.00
1,308.00
1,674.96
2,424.00
3,060.96
935.04
593.58
1,359.96
1,767.00
2,888.04
188.04
12,728.79
13,211.04
59,880.60
4,137.24
8,622.19
4,841.04
55,200.04
10,202.96
495.00
10,077.00
1,682.60
2,378.04
25,951.56
33,650.04
2,826.96
621.96
$511,363.32
$287.88
10,440.41
887.73
$3,252.96
775.20
 MUNICIPAL SUPERANNUATION REPORT,  1962/63
R 13
SCHEDULE No.  1—Continued
Contributions by Employer for Year Ended March 31,1963-
-Continued
Employer
Total
Contributory
Salaries,
1962/63
Employer Contributions
For
Current
Service
For
Past
Service
School Districts—Continued
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)..
Delta (No. 37) (effective January 1, 1963)..
Fernie (No. 1)..
Fraser Canyon (No. 32) —	
Grand Forks (No. 12) (effective July 1, 1962).
Greater Victoria (No. 61)..
Gulf Islands (No. 64) (effective April 1, 1962).
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)-
Revelstoke (No. 19) (effective January 1, 1963)-.
Richmond (No. 38)	
Saanich (No. 63)	
Salmon Arm (No. 20)..
Sechelt (Gibsons) (No. 46).
Slocan (No. 8)	
Smithers (No. 54)	
Sooke (No. 62)  	
Southern Okanagan (No. 14)..
Summerland (No. 77)	
Terrace (No. 53) 	
Trail (No. ID-
University Hill (effective December 1, 1962).....
Vancouver (No. 39) —	
Vanderhoof (No. 56)	
Vernon (No. 22)..
West Vancouver (No. 45)..
Williams Lake (No. 27)	
Sub-totals of 54 school districts	
Totals of 269 active employer accounts.
$38,108.36
857,073.45
63,381.37
92,408.50
103,148.99
101,707.23
131,230.96
89,390.56
26,480.60
47,430.88
31,863.05
15,044.64
857,228.20
19,850.00
59,899.00
179,873.27
184,836.98
54,640.45
121,662.56
33,190.87
34,038.57
68,402.98
299,359.34
108,589.39
181,272.00
467,361.44
69,060.00
109,234.97
167,917.82
34,343.64
25,926.50
28,807.00
61,626.52
1,065.00
394,468.89
72,453.42
88,566.00
54,471.87
11,100.00
59,191.00
84,144.00
65,358.00
17,646.72
54,340.00
194,523.28
6,058.00
3,257,110.20
44,341.17
104,720.17
162,988.89
87,482.77
$9,730,746.14
$85,351,647.74
$1,900.16
41,440.86
3,449.83
4,082.30
4,622.41
6,601.52
14,234.18
5,065.06
1,425.79
2,317.46
1,802.85
581.33
42,184.68
1,195.10
2,858.04
7,931.12
9,214.78
2,525.80
6,248.35
1,749.23
1,448.76
3,223.48
16,198.56
5,653.55
9,646.96
26,019.42
3,749.90
5,303.01
8,751.00
1,504.92
1,345.06
1,205.26
3,184.70
42.60
16,261.29
4,348.27
4,530.57
3,749.12
636.00
2,886.19
4,881.95
4,156.46
755.71
2,423.60
9,851.87
231.32
157,760.14
2,320.72
4,739.10
8,893.15
3,742.51
$492,492.02
$4,289,756.05
$2,295.00
123.00
1,290.00
53.04
57.96
648.00
64.75
11,810.04
158.13
165.00
756.00
179.04
375.00
12,356.00
1,068.00
3,327.96
3,027.00
363.00
258.00
120.00
536.04
611.04
758.04
117.96
219.96
45,581.04
39.00
158.04
$90,544.20
$1,564,546.08
 R 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, 1963
Par Value Book Value
Province of British Columbia   $85,000.00 $84,766.23
Province of British Columbia guaranty—
British Columbia Hydro and Power Authority 12,649,200.00 12,075,370.27
British Columbia Power Commission  6,897,500.00 6,790,608.29
British Columbia Electric Company Limited-. 1,875,750.00 1,706,605.09
British Columbia Toll Highways and Bridges
Authority   1,671,000.00 1,682,131.65
Pacific Great Eastern Railway Company  3,426,000.00 3,340,876.34
Greater Vancouver Water District  855,000.00 830,779.79
Vancouver and District loint Sewerage and
Drainage Board   17,000.00 17,151.73
Greater Vancouver Sewerage  and  Drainage
District     3,169,000.00 3,142,586.20
British Columbia school district serials   40,513,650.00 39,104,328.45
British Columbia municipal serials  2,449,000.00 2,339,866.48
British  Columbia hospital  improvement  district serials   704,000.00 702,052.00
British Columbia fire protection  and  waterworks district serials  422,100.00 403,074.15
Province of Manitoba   345,000.00 345,000.00
Province of Ontario guaranty—•
Ontario Municipal Improvement Corporation 1,690,000.00 1,718,958.38
University of Toronto  825,000.00 842,689.33
$77,594,200.00       $75,126,844.38
 MUNICIPAL SUPERANNUATION REPORT,  1962/63
R 15
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 R 16 BRITISH COLUMBIA
SCHEDULE No. 4
Municipal Superannuation Fund
Comparative Statistics, April 1, 1947, to March 31, 1963,
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
1947/48	
1948/49	
1949/50	
1950/51	
1951/52	
1952/53	
1953/54	
1954/55	
1955/56—1
Maximum
Maximum
1956/57—
Maximum
Maximum
1957/58—
Maximum
Maximum
1958/59—
Maximum
Maximum
1959/60—
Maximum
Maximum
1960/61—
Maximum
Maximum
1961/62—
Maximum
Maximum
1962/63—
Maximum
Maximum
retirement age 65
retirement age 60
retirement age 65
retirement age 60
retirement age 65
retirement age 60
retirement age 65
retirement age 60
retirement age 65
retirement age 60
retirement age 65
retirement age 60
retirement age 65
retirement age 60
retirement age 65
retirement age 60
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
9,443
2,259
937
1,190
1,312
1,525
1,594
1,649
1,801
1,931
1,981
2,150
2,770
2,946
6,832
7,181
7,533
245
196
170
296
393
325
302
261
315
56
451
50
275
44
283
21
376
20
385
16
463
29
514
33
254
245
289
369
411
459
451
539
538
662
534
561
658
886
1,295
139
125
107
115
78
93
79
89
60
25
51
25
40
23
55
18
55
41
100
37
116
34
113
31
10
9
8
15
10
10
12
14
16
18
10
11
95
39
41
63
62
76
69
73
91
60
14
69
13
70
16
49
10
62
19
72
12
74
22
72
16
10
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
1,482 I
575 ■
142
150
156
165
171
174
185
194
198
206
210
212
215
303
372
421
1 From year 1955/56 the figures are based on new actual count.
 MUNICIPAL SUPERANNUATION REPORT,  1962/63 R 17
SCHEDULE No. 5
Municipal Superannuation Fund
Comparative Statistics, April 1, 1953, to March 31, 1963—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
o
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eg
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o a
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If
1953/54—
Normal retirement 	
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
Total!!
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
32
228
522
20
438
56
503
Disability	
Death             -	
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
384
18
406
56
755
1
Death . 	
It
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
Disability   	
Death...               	
1
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
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
894
1
Death
21
Totals
12
7
3
62
14
19
20
15
433
328
415
916
1959/60—
Normal retirement	
3
9
5
1
4
1
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
192
21
250
285
10
343
51
1,059
1
39
Disability	
Death	
Totals
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
Death	
46
Totals	
48
16
12
151
23
24
25
32
488
287
381
1,218
1962/63—
23
13
8
3
11
131
6
11
2
11
26
1
21
3
15
1
225
19
256
254
17
324
44
1,287
1
Death
51
Totals
36
11
11
137
24
27
24
16
500
271
368
1,339
i From 1955/56 the figures are based on the actual count by plan in force.
 R 18 BRITISH COLUMBIA
SCHEDULE No 6
Municipal Superannuation Fund
Number of Contributors and Pensioners by Employer, as at March 31,1963
Employer
Contributors
Pensioners
Total Contributors and
Pensioners
Class I
Class II         CI
ass III
Cities (32)
12
3
12
101*
37
41
14
3
18
6
2
40
97
23
7
561*
803*
167
128
75
52
22
14
38
60
271*
15
59
2,444?*
49
3481*
19
19
6
6
2
10
9
6
13
12
112
302*
10
5
9
11
5
Hi*
1,3832*    |
10
1871*
1
1
5
3
3
8
2
1
1
6
21
3
1
4
10
52
16
11
5
4
1
11
81*
1
3
762
4
93
3
1
3
2
7
2
2
2
1
23
16
1
20
30
77
53
7
2
2
1
1
13
3
13
1,025
10
189
14
Armstrong
3
20
151*
19
Cranbrook
53
55
18
5
23
7
3
79
143
33
8
Nanaimo . .     ....      '	
931*
1323*
New Westminster
North Vancouver
408
2272*
103
59
28
21
Prince George
59
921*
311*
Rossland
20
TraiL
861*
Vancouver
5,6149*
73
Victoria	
8172*
White. RncV
23
Sub-totals of 33 city accounts	
3,97814*
1,8576*    |       i
,0431*
1,506
8,38421*
Districts (29)
4951*
4
7
7
4
33
6
34
43
23
33
17
19
176
591*
1
4
44
113
168
7
93
3
13
11
8
3
44
31
11
21
60
14
38
4
31
65
1
12
1
3
9
6
6
5
1
2
22
10
1
6
23
27
1
1
2
6
32
2
211*
33
3
4
5
1
2
20
21
~2
8
24
1
1
18
9
22
6861*
8
22
Coldstream	
8
Delta	
4
Ksquimalt
53
Fraser Mills	
Kent-   .     .
6
Kitimat 	
54
54
30
Matsqui.	
46
21
23
262
Oak Bay  	
12H*
1
5
Powell River    .
63
165
279
Salmon Arm ._   ..
8
Spallumcheen	
Sumas
1
11
22
256
11
8
129
3
13
29
320
Tadanac  .    .    	
58
14
2031*
Sub-totals of 28 active district ac-
1,7352*
385
2651*
174
2,5593*
! Inactive accounts, but eligible for pension benefits.
 MUNICIPAL SUPERANNUATION REPORT,  1962/63 R 19
SCHEDULE No. 6—Continued
Municipal Superannuation Fund—Continued
Number of Contributors and Pensioners by Employer, as at March 31, 1963—
Continued
Employer
Contributors
Class I
Class II
Class III
Pensioners
Total Contributors and
Pensioners
Towns (4)
Fort St. John	
Mission City	
North Kamloops-
Quesnel	
Sub-totals of 4 towns..
Villages (61)
Abbotsford..
Aennofield—
Alert Bay	
Ashcroft	
Burns Lake	
Campbell River..
Castlegar.	
Chetwynd..
Chapman Camp..
Comox	
Creston	
Cumberland	
Fort St. James.-
Fruitvale	
Gibsons Landing-
Golden 	
Harrison Hot Springs-
Hazelton	
Hope	
Houston	
Invermere	
Kaslo	
Keremeos	
Kinnaird	
Ladysmith	
Lake Cowichan.-
Lillooet	
Lumby	
Lytton	
McBride	
Marysvilie	
Masset 	
Merritt	
Montrose	
Natal	
New Denver-
Oliver	
Osoyoos	
Parksville	
Pemberton	
Pouce Coupe..
Princeton	
Qualicum Beach..
Salmo	
Salmon Arm..
Sechelt	
Sidney	
Silverton	
Slocan	
Smithers...
Squamish..
Stewart	
Taylor	
Telkwa	
11
131*
20
11
551*    |
2
4
11
4
3
2
1
1
4
1
3
1
6
2
2
10
1
2
10
14
171*
25
13
691*
1
2
4
13
5
2
4
7
1
2
2
5
2
6
2
2
11
1
3
* Inactive accounts, but eligible for pension benefits.
 R 20 BRITISH COLUMBIA
SCHEDULE No. 6—Continued
Municipal Superannuation Fund—Continued
Number of Contributors and Pensioners by Employer, as at March 31, 1963—
Continued
Employer
Contributors
Pensioners
Total Contributors and
Pensioners
Class 1
Class 11
Class III
Villages—Continued
Tofino            —   .
2
3
4
	
1
1
2
	
Vanderhoof. 	
Warfield. 	
3
4
6
Sub-totals of 42 active village accounts 	
136
19
5
160
Miscellaneous Employers (21)
3
1
1
6
6
77
2101*
20
4
3
1
3
4
7
15
12
8
4
2
2
16
12
24
1
13
2
1
2
1
23
1
1
2
1
14
35
5
1
7
15
Civic Properties Commission (Chilliwack)
1
1
Family and Children's Service (Victoria)
30
6
Greater Vancouver Sewerage and Drainage
92
2581*
Greater Victoria Water District	
Hospital Employees' Union, Local 180	
Lower Mainland Regional Planning Board..
27
4
4
3
3
1
28
Queensborough Bridge Toll Authority.	
7
16
35
9
Vancouver Public Aquarium Association	
6
2
Victoria Memorial Arena
3
Sub-totals of 21 miscellaneous em-
3891*
16
84
62
55U*
Hospitals by Location (89)
Abbotsford—Matsqui-Sumas-Abbotsford	
5
6
2
29
3
6
2
~18
7
5
3
5
4
13
1
3
3
3
	
40
12
7
8
8
12
175
9
32
18
9
89
27
44
16
15
36
79
8
10
16
2
1
3
~2
1
	
	
3
5
1
1
1
1
5
1
2
2
46
21
Armstrong—Armstrong and Spallumcheen-
7
8
Bella Bella—R. W. Large Memorial	
10
12
206
Burns Lake—Burns Lake and District	
Campbell River—Campbell River and Dis-
13
38
20
9
110
39
50
Creston—Creston Valley 	
20
21
41
97
Enderby—Enderby and District Memorial..
10
15
21
5
: Inactive accounts, but eligible for pension benefits.
 MUNICIPAL SUPERANNUATION REPORT,  1962/63 R 21
SCHEDULE No. 6—Continued
Municipal Superannuation Fund—Continued
Number of Contributors and Pensioners by Employer, as at March 31, 1963—
Continued
Employer
Contributors
Pensioners
Total Contributors and
Pensioners
Class 1
Class 11
Class HI
Hospitals by Location—Continued
Fort St. John—Providence   	
2
1
6
6
2
1
19
26
3
5
4
2
1
1
3
10
16
16
2
101
15
42
1
3
1
18
11
2
10
11
9
1
1
5
2
2
7
1
3
1
1
8
2
1
17
7
5002*
18
7
12
115
9
	
24
7
9
3
48
25
11
5
119
4
118
30
24
13
6
3
5
6
24
42
77
57
6
369
107
173
10
18
7
84
55
7
63
70
49
7
6
29
17
11
30
13
24
8
14
70
18
2
102
72
1,340-*
28
92
44
366
89
2
1
1
7
7
4
1
1
1
5
3
1
49
1
10
2
4
5
1
3
1
i
i
i
2
2
8
9
197
3
2
4
43
8
26
9
Golden—Golden and District General
10
4
55
31
13
6
145
4
151
Kimberley—Kimberley and District   	
37
29
Ladysmith—Ladysmith and District Gen-
17
8
3
7
Michel—Michel  	
7
27
53
1
Nanaimo—Nanaimo Regional General	
98
76
9
New Westminster—Royal Columbian	
New Westminster—St. Mary's	
519
123
225
11
21
8
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	
104
70
9
78
82
61
9
Queen   Charlotte   City—Queen   Charlotte
7
34
19
Rossland—Mater Misericordise	
Salmon Arm—Shuswap Lake General	
14
38
15
27
11
Sumerland, West—Sumerland General	
17
78
20
3
Trail—Trail-Tadanac          	
Vancouver—
127
88
2,037?*
G. F. Strong Rehabilitation Centre.
49
101
60
St. Paul's '  ..   .
524
106
• Inactive accounts, but eligible for pension benefits.
 R 22 BRITISH COLUMBIA
SCHEDULE No. 6—Continued
Municipal Superannuation Fund—Continued
Number of Contributors and Pensioners by Employer, as at March 31, 1963—
Continued
Employer
Contributors
Class I
Class II
Class III
Pensioners
Total Contributors and
Pensioners
Vanderhoof—St. John	
Vernon—Vernon Jubilee-
Victoria—■
Gorge Road-
Queen Alexandra Solarium;	
Royal Jubilee . I	
St. Joseph's !	
White Rock—White Rock District	
Williams Lake—Cariboo Memorial	
Sub-totals of 87 active hospital
accounts !	
School Districts (54)
Agassiz (No. 76)	
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)	
Delta (No. 37)	
Fernie (No. 1)_
Fraser Canyon (No. 32)—
Grand Forks (No. 12)	
Greater Victoria (No. 61 )_
Gulf Islands (No. 64)_
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)	
Revelstoke (No. 19)	
Richmond (No. 38)"__    .   .
Saanich (No. 63)-
Salmon Arm (No. 20)	
Sechelt (Gibsons) (No. 46) _
Slocan (No. 8)	
Smithers (No. 54)	
Sooke (No. 62)..
Southern Okanagan (No. 14)	
Summerland (No. 77) L
Terrace (No. 53) —
Trail (No. 11)	
3
15
4
12
105
104
6
3
1,4402*
4
29
2
8
129
13
18
21
21
28
18
16
8
7
5
146
7
11
35
43
9
20
5
7
13
51
241*
32
88
13
17
33
7
5
6
11
1
61
16
26
9
2
12
18
17
2
12
40
9
60
29
26
3491*
276
33
17
5,5316*
1
20
2
1
511*
5
6
7
5
5
3
11
4
2
441*
2
2
15
5
1
3
2
3
27
4
9
23
7
1
1
2
"ii
4
6
5
3
5
1
2
1
62
27
515
13
24
2
3
8
12
3
1
12
80
33
39
5161*
407
39
20
7,4868*
5
50
4
9
1931*
18
24
29
29
33
21
27
15
8
7
2141*
9
13
53
48
10
20
8
9
16
80
3H*
49
123
23
26
39
8
6
7
13
1
101
21
32
14
2
15
23
18
4
12
50
* Inactive accounts, but eligible for pension benefits.
 MUNICIPAL SUPERANNUATION REPORT, 1962/63 R 23
SCHEDULE No. 6—Continued
Municipal Superannuation Fund—Continued
Number of Contributors and Pensioners by Employer, as at March 31,1963—
Continued
Employer
Contributors
Class I
Class II
Class III
Pensioners
Total Contributors and
Pensioners
School Districts—Continued
University Hill-
Vancouver (No. 39)	
Vanderhoof (No. 56)..
Vernon (No. 22)-
West Vancouver (No. 45 )~
Williams Lake (No. 27)	
3
503
8
22
25
23
1
189
4
6
18
5
124
4
816
12
30
44
28
Sub-totals of 54 school districts	
Totals of 269 active employer ac-
1,7101*
5812*
213
2,5043*
944321*
2,2596*
7,53310*
2,478
21,71337*
* Inactive accounts, but eligible for pension benefits.
Number of inactive accounts, but eligible for pension benefits, 37;  number of non-active unclaimed moneys
accounts as at March 31,1963, 260.
Printed by A. Sutton, Printer to the Queen's Most Excellent Majesty
in right of the Province of British Columbia.
1964
510-164-2993
 

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