PROVINCE OF BRITISH COLUMBIA Twenty-ninth Annual Report of the Business Done in Pursuance of the CIVIL SERVICE SUPERANNUATION ACT for the YEAR ENDED MARCH 31 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 pui I suance of the Civil Service Superannuation Act during the fiscal year 1963/64. Sir,—I have the honour to lay before you the Report of the business done in pursuance of the Civil Service Superannuation Act during the fiscal year 1963/64. I have the honour to be, Sir, Your obedient servant, W. H. FORREST, Superannuation Commissioner. January 5, 1965. r Superannuation Report, 1963/64 I Report of the Business Done in Pursuance of the Civil Service Superannuation Act during the Fiscal Year 1963/64 PART I.—CIVIL SERVICE SUPERANNUATION FUND Sections 4, 7, 8, 9, 11, 16, 18, 19, 21, 52, 53, 54, 55, 57, and 58 (Employee and Employer Contributions).—During the year an amount of $3,863,274 was received from employees, consisting of the following:— Compulsory and arrears contributions j— $3,264,705 Voluntary contributions 596,071 Repayment of moneys withdrawn ____H 2,498 $3,863,274 During the year, employer contributions amounting to a net total of $3,003,469 were received from the following sources:— Minister of Finance— Compulsory and arrears matching $3,077,635 Reinstatement matching ..'. Zui 2,498 Prior-service requirements Z^jt^TZZZ^.A.x. '~w 5,068 2-per-cent formula requirements 287,771 Service-bonusSpiquirements ——J?_~__: '.——' r 151,911 Minimum-allowance requirements ' '.^S^^i^TT' 6,819 $3,531,702 Less refund abatements 792,238 Dyking districts" ___ .__ 1,077 Employees' Association, Medical Services, and Credit Union 5,295 University of British Columbia and Victoria University 16,611 Liquor Control Board 241,022 $3,003,469 As at March 31, 1964, there were 12,130 active contributors to the Fund, 2,727 of whom have made special voluntary contributions. There were 2,050 maJdng current voluntary contributions. The remaining 677 have voluntary credits but have discontinued voluntary contributions. Section 13.—As at March 31, 1964, deposits with the Treasury at credit of the Civil Service Superannuation Fund amounted to $81,554,517. Section 14.—Interest in the amount of $3,693,474 was received from the Minister of Finance, calculated on the credit balances in the Fund on April 1 and October 1, 1963, and computed as follows:— At the rate of 5 per cent per annum . $3,534,648 At the rate of 4 per cent per annum 147,231 At the rate of 3 per cent per annum ___^_._, _•. 11,595 $3,693,474 s 6 BRITISH COLUMBIA Section 17.—A statement of all moneys received and paid out under the provisions of this Act and the assets and liabilities appertaining to the granting of superannuation allowances under its provisions is given in the statements of revenue and expenditure and the balance-sheets appended. Section 18.—(1) Superannuation allowances were granted to 102 retiring employees under this subsection. For analysis see statements of comparative statistics appended. Section 20.—(3) Five deferred superannuation allowances were granted under this subsection. Section 21.—Of the 102 allowances granted under section 18 (1), 29 retiring employees selected the 2-per-cent formula under this section. Section 22.—(1) Superannuation allowances were granted to dependents of 20 employees who died while in service, one of which was granted on the 2-per-cent formula. Section 24.—Refunds totalling $67,160 were made to the widow or estate in the case of 28 contributors who died while in service. Section 25.—(1) Refunds totalling $818,458 were made to 957 contributors who left the service of their employer. (3) A total of $18,647 was transferred to the contributors' credit in Employees' Suspence Accounts in Part I and Part II in respect of 19 former employees who were out of the service of the Government for more than three years. Section 28.—Administration expenses covering both Part I and Part II, amounting to $54,469, were paid from the Consolidated Revenue Fund. Section 37.—An amount of $566 was paid over to the Minister of Finance from the accounts of two former contributors to Part I and one former contributor to Part n. The accounts of 26 contributors who ceased to be eligible to contribute to Part I were transferred from the Civil Service Superannuation Fund to the Retirement Fund. Imprest Payments and Receipts.—An amount of $118,019 was paid out in supplementing allowances granted prior to April 1, 1953, pursuant to Schedule B and allowances granted prior to April 1, 1958, pursuant to section 58a (effective April 1, 1962). The Minister of Finance reimbursed the Fund for this amount out of the Consolidated Revenue Fund. By special arrangement with the Crown Life Insurance Company, payments totalling $17,357 to retired employees of the Liquor Control Board were made out of the Fund, which was reimbursed by the insurance company. These payments were in respect of the portion of their total benefits purchased from the insurance company prior to August 1, 1961. PART II.—RETIREMENT FUND Sections 4, 21, 43, 53, 54, and 58 (Employee and Employer Contributions).— During the year an amount of $1,089,979 was received from employees, consisting of the following:— Compulsory and arrears contributions $995,423 Voluntary contributions _____ _ 93,056 Repayment of moneys withdrawn L 1,500 $1,089,979 r CIVIL SERVICE SUPERANNUATION REPORT, 1963/64 During the year, employer contributions amounting to a net total of $727,133 re received from the following sources:— Minister of Finance— Compulsory and arrears matching $868,527 Reinstatement matching 1,500 2-per-cent formula requirements Service-bonus requirements Minimum-allowance, requirements I Less refund abatement 17,697 1,283 $893,256 . 281,475 B.C. Toll Highways and Bridges Authority $128,704 Less refund abatements _-_:______-. 13,928 Employees' Medical Services I $727,133 it March 31, 1964, there were 4,219 active contributors to the Fund, 384 I of whom have made special voluntary contributions. There were 322 making it voluntary contributions. The remaining 62 have voluntary credits but have [ discontinued voluntary contributions. Section 44.—Interest in the amount of $638,113 was received from the [ Minister of Finance, calculated on the credit balances in the Fund on April 1 and s follows:— nnum $573,474 nnum 63,908 October 1, 1963, and computed a At the rate of 5 per ce At the rate of 4 per cs At the rate of 3 per ce 731 $638,113 Section 45.—The accounts of 314 contributors who became eligible to contri- . bute to Part I were transferred from the Retirement Fund to the Civil Service Superannuation Fund. Section 47.—(1) and (2) Of the 18 allowances granted under (1) and (2), e retiring employee selected the 2-per-cent formula under section 21. For analysis see statements of comparative statistics appended. (3) No superannuation allowance was granted pursuant to this subsection. Section 49.—(1) Refunds totalling $278,038 were made to 435 contributors who left the service of the Government, and refunds totalling $51,184 were made o the widow or estate in the case of 28 contributors who died while in service. Schedule C and Section 58A.—An amount of $20,973 was paid out in supplementing allowances granted prior to April 1, 1953, pursuant to Schedule C and allowances granted prior to April 1, 1958, pursuant to section 58a (effective April 1, 1962). 1 S 8 BRITISH COLUMBIA PART III.—DEATH BENEFITS FUND As at March 31, 1964, there were 1,267 superannuants participating. During the year 68 claims were paid, amounting to $37,800, financed a follows:— Contributions by superannuants $13,714 36.28 Contributions by Government 1 24,086 63.72 $37,800 100.00 For details of individual payments see statement appended. CIVIL SERVICE SUPERANNUATION REPORT, 1963/64 PART I.—CIVIL SERVICE SUPERANNUATION FUND $3,863,274 ;3,795,707 792,238 3,003,469 n Members of the Legislative Assembly Superannuation / -ym^.«ir« -.ArtjiMiv. 1,164 n former Liquor Control Board pension plan 18,118 its (as per contra)— s $118,019 :r Liquor Control Board employees 17,357 135,376 ed from Minister of Finance 3,.93,474 $11,235,230 Re Schedule B and sectioi allowances Re former Liquor Control B h Treasury, April 1, 1963 _ Sh Treasury, March 31, 1964 10 BRITISH COLUMBIA PART I.—CIVIL SERVICE SUPERANNUATION FUND—Continued Ca Civil Service Superannuation Fund as at March 31,1964 id securities held by the Province of British Columbia as shown on page E 21 of the Public Accounts, March 31, 1964— $1,000 1,112,500 23,603,500 15,475,000 5,016,100 10,116,228 22,349,500 32,000 4,210,000 11,000 2,000 21,000 170,000 110,000 British Columbia Hydro and Power Authority British Columbia Toll Highways and Bridges Authority Greater Vancouver Sewerage and Drainage District Pacific Great Eastern Railway Company Province of Manitoba guaranty—Manitoba Hydro-electric Province of Quebec guaranty—Quebec Hydro-electric Com- rvice Superannuation Fund distribution— ntributory Pensions Account, being amount available for $82,229,828 payment of $81,554,517 Co Ba Employees' compulsory contribution.: $29,130,267 4,420,841 $33,551,108 29,130,267 Sp the Liquor En ployees' Suspense Account, being unclaimed moneys at credi t of former $81,554,517 CIVIL SERVICE SUPERANNUATION REPORT, 1963/64 S PART I.—CIVIL SERVICE SUPERANNUATION FUND—Continued Nam* Depart™, Amount ■ P r, rt 1 $2 176 54 Cory. Winmfred_. ^ pdhratSn m. ' '■ ~~ 228l'l2 -"',','7'" :'i' i" 'j ,"r p'wvf^lTh ' 43939 OT70 PnhS SS}5 -.-, ' £ 332t TnM W169976 BRITISH COLUMBIA a 1 n I i is | |j|H 1 | fflTITf iaii BBJJJ r?T^23IS i u li i null i s 111111 § 1 85": 1111SI1111111 f 1 *t£hst ZJlJUl^" | «"=!«»s ii!:15 i!i!ixs 1 ! Iliillllll SISI!! 11S 1 BiBS § § s i i s i s s I I |iS- Iliillllll 11 lllsiiii ll§l ^llsslSiR^ § i | p § S § a i| I | IPiHfll | J J J1! 11} I IllligSip | S. | I 1 g | | i |lllS_Ss|l $ S | £ i 8" | | § •p! IS! II JJJJ UJ llllllll | III m III CIVIL SERVICE SUPERANNUATION REPORT, 1963/64 S 13 PART I.—CIVIL SERVICE SUPERANNUATION FUND—Continued Comparative Statistics, April 1,1947, to March 31,1964, Subdivided According to Sex of Contributor FiscalVear B5& B AUowances 5Sf irS H Male Female Male Female Male Femaie Male Female lfg== iS ■ J 402 pyi I 1 »| ; 1 I 11 s 14 BRITISH COLUMBIA PART I.—CIVIL SERVICE SUPERANNUATION FUND—Continued j Comparative Statistics, April 1, 1954, to March 31, 1964—Allowances Granted and in Force, Subdivided by Type and Plan of Allowances 1 ' "9R Granted during Year Expired during Year In Force at End of Year | I I 1 1 I ! : Ifl 1 1 ! l 1 I 1 l J sill I 1 z '1 __« ^0 l 1 l l £ l T 1 1 1 ._7 I 1 | 1 J. l 209 | « l 1 |1B ■ z 1 1 60 I 1 z l __3 ,27 201 1 » :.: 1 SB j z z 1 1 __f i _lf 1 _f I __: i=1 _____ l l ™ l § *S BB z z z 1 1 z z z z '2 'I ™ 1 1 | ISS z z z 1 J! z z z z ir | 1 I l I J I ?~»™ z z z - z 1 | nl 1 z fc z 108 162 I u _38 4* z I z - z 1 1 I 1 I 1 ,04 155 323 1 Z 428 119 z z z i z 1 j z | 1 = j 106 14. l * 1 533 l z 1 z z 1 | z I 8 ■ I4 "I 148 ^ 12 ™ 536 5 8 2 30 82 8 8 19 111 1 1 158 152 313 204 114 708 1 CIVIL SERVICE SUPERANNUATION REPORT, 1963/64 S 15 PART I.—CIVIL SERVICE SUPERANNUATION FUND—Continued Allowances Granted, April 1, 1963, to March 31,1964 16 BRITISH COLUMBIA PART I.—CIVIL SERVICE SUPERANNUATION FUND—Continued Allowances Granted, April 1, 1963, to March 31, 1964—Continued CIVIL SERVICE SUPERANNUATION REPORT, 1963/64 PART IL—RETIREMENT FUND Paid from Fund id deposits with Treasury, April Deposits with Treasury, Marc i COLUMBIA PART II.—RETIREMENT FUND—Continued Retirement Fund as at March 31,1964 1 E 22 of the Public Accounts, March 31 sh Columbi 1964— as shown on page bi Province of British Columbia guaranty- 'Authority _ $14,902,900 Highways : ridge Auth credit of certa n employees o and I f the Toll CIVIL SERVICE SUPERANNUATION REPORT, 1963/64 S 19 PART II.—RETIREMENT FUND—Continued 1 Schedule No. 2.—Unclaimed Moneys in Retirement Fund at Credit of Former Employees' Accounts as at March 31,1964 Name Department Amount § Anderon.NW PublteWorRa ___ l J I Byers,p b--J-j ■ ^ ; " ~ '*. P«McWor__s^___, 1 as^asa^. -|*"°^— - i ™°rt^h,ariesF-D—*- 1 ™Tk?™F0nnoaA %$ZZ—| \ s«r._ is^== Janzen.John _____ . [ Ke^idy.b.^ : P-blic Works _ j_*S Knox,-Arthur — £ , I SE?rLFA™'d::=:=::=::: i^ite^H—-—\^ 1 I^SyKa__ar^_ . g^TFF-—— PubUc w™£ Vandrishe^Edmond Highways BRITISH COLUMBIA ^ i -a 1 *=3 j [ | 1 S 5 J 5 , S§I« ii— M- !^pggsg&sj ! 4g§ |||rp,|ps 1 I § _ 1 & s 1 S 1 m _:§_!! I S H § S ^ | 5 ■^^as sfsssgssgg _1 ^i«i JH^^s^ j ! mm* s § i n s s § i a s'sggsgg ? s a i s 1 H a j MHBIHfilltSiEill h t"3 1 IIMMIIIHS llli llllllll 1 1 1 1 f i 1 1 | 1 illllll I I I i I I i I I I 1111111111S1SI i ill 5lI»rrPfPPfPrpj 1 3 1 I! Is RKSzgl glgzglsiz|lglglgs. 2IVIL SERVICE SUPERANNUATION REPORT, 1963/64 PART IL—RETIREMENT FUND—Continued 1 1 S 22 BRITISH COLUMBIA PART II.—RETIREMENT FUND—Continued Comparative Statistics, April 1, 1954, to March 31, 1964—Allowances 1 Granted and in Force, Subdivided by Plan of Allowance Granted during Year Expired during Year In Force at End of Year J Fiscal Yea l 1 '.I i j i I 1 si 1 ! I 111 I I lllfcei'K I | 1 | _. | j i 4 92 2! I9??o^reiement_l 4 - 1 - 4 j 9 4 5 | i 1 Bp|& | 1 h ^ | s .» g 7 | i 1 wPp I 1 = | I2 J S 86 | i 1 1 - WsiSS^ n | 1 1 § zz 3 I _L i _6 i 8! l 1 1 ™^:izzr J E i z- z | _2 i | 1 80 | 1 To^ retirement 2 j 9 1 4 2 i | 1 76 2 | 19NoSH retirement - - \ 14 - - J j ,8 I 1 | | •| "^retirements J 1 i J I 1 z J 1 l 5 T! J l 19No2_5 retirement ^l - i ,4 3 1 - E ! 20 | 14 66 j i Totals - 1 14 3 1 5 $l 20 7 14 67 9 129 1 CIVIL SERVICE SUPERANNUATION REPORT, 1963/64 PART II.—RETIREMENT FUND—Continued Allowances Granted, April 1,1963, to March 31,1964 Name Department Date Particulars An7 son William Mac hereon Hi hwa s NR m I NR Highways N.R. V;.'","."..!'";",'-—:—"- ™j*W| 1 M°refl' ^M f^iMt J^hwf" NR. WnL',?0^,0^ Recreation and Conservation NR' NR 1 ~ 1 s 24 BRITISH COLUMBIA PART III.—DEATH BENEFITS FUND Death Benefit Payments Made during the Fiscal Year Ended March 31, 1964 Name of Deceased Date of Death Amount Mnr-h?o ,Q«3 Zm 1 SS l 1 Car-sew, Charles Noel Thomas- ;',„:. ","„:_. .;,.." '.';,•" Mr'" - — __ tZ-™'w_ i ~~ Farquharson, Catherine F. A ••! 1 i£^ Ma-Hpte *m"' nZlfrtVtnry September 15, 1963 Reinhard, WiUiam Edward -_ ^'S^wwIJhlSwSt^ Nnv™?' ?i'?!>« HiISttaMriT' ~ Moodirs^aSeyFrfe Middled Total of 68 death benefit payments made
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Twenty-ninth Annual Report of the Business Done in Pursuance of the CIVIL SERVICE SUPERANNUATION ACT… British Columbia. Legislative Assembly 1965
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Title | Twenty-ninth Annual Report of the Business Done in Pursuance of the CIVIL SERVICE SUPERANNUATION ACT for the YEAR ENDED MARCH 31 1964 |
Alternate Title | CIVIL SERVICE SUPERANNUATION REPORT, 1963/64 |
Creator |
British Columbia. Legislative Assembly |
Publisher | Victoria, BC : Government Printer |
Date Issued | 1965 |
Genre |
Legislative proceedings |
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Text |
FileFormat | application/pdf |
Language | English |
Identifier | J110.L5 S7 1965_V02_12_S1_S24 |
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Sessional Papers of the Province of British Columbia |
Source | Original Format: Legislative Assembly of British Columbia. Library. Sessional Papers of the Province of British Columbia |
Date Available | 2018-08-16 |
Provider | Vancouver : University of British Columbia Library |
Rights | Images provided for research and reference use only. For permission to publish, copy or otherwise distribute these images please contact the Legislative Library of British Columbia |
CatalogueRecord | http://resolve.library.ubc.ca/cgi-bin/catsearch?bid=1198198 |
DOI | 10.14288/1.0371049 |
AggregatedSourceRepository | CONTENTdm |
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