{"@context":{"@language":"en","AIPUUID":"https:\/\/open.library.ubc.ca\/terms#identifierAIP","AggregatedSourceRepository":"http:\/\/www.europeana.eu\/schemas\/edm\/dataProvider","AlternateTitle":"http:\/\/purl.org\/dc\/terms\/alternative","CatalogueRecord":"http:\/\/purl.org\/dc\/terms\/isReferencedBy","Collection":"http:\/\/purl.org\/dc\/terms\/isPartOf","Creator":"http:\/\/purl.org\/dc\/terms\/creator","DateAvailable":"http:\/\/purl.org\/dc\/terms\/issued","DateIssued":"http:\/\/purl.org\/dc\/terms\/issued","DigitalResourceOriginalRecord":"http:\/\/www.europeana.eu\/schemas\/edm\/aggregatedCHO","FileFormat":"http:\/\/purl.org\/dc\/elements\/1.1\/format","FullText":"http:\/\/www.w3.org\/2009\/08\/skos-reference\/skos.html#note","Genre":"http:\/\/www.europeana.eu\/schemas\/edm\/hasType","Identifier":"http:\/\/purl.org\/dc\/terms\/identifier","IsShownAt":"http:\/\/www.europeana.eu\/schemas\/edm\/isShownAt","Language":"http:\/\/purl.org\/dc\/terms\/language","Provider":"http:\/\/www.europeana.eu\/schemas\/edm\/provider","Publisher":"http:\/\/purl.org\/dc\/terms\/publisher","Rights":"http:\/\/purl.org\/dc\/terms\/rights","SortDate":"http:\/\/purl.org\/dc\/terms\/date","Source":"http:\/\/purl.org\/dc\/terms\/source","Title":"http:\/\/purl.org\/dc\/terms\/title","Type":"http:\/\/purl.org\/dc\/terms\/type","Translation":"http:\/\/purl.org\/dc\/terms\/description"},"AIPUUID":[{"@value":"90cba0ed-63b9-41b4-99cd-5edefb559745","@language":"en"}],"AggregatedSourceRepository":[{"@value":"CONTENTdm","@language":"en"}],"AlternateTitle":[{"@value":"MUNICIPAL SUPERANNUATION REPORT, 1963\/64","@language":"en"}],"CatalogueRecord":[{"@value":"http:\/\/resolve.library.ubc.ca\/cgi-bin\/catsearch?bid=1198198","@language":"en"}],"Collection":[{"@value":"Sessional Papers of the Province of British Columbia","@language":"en"}],"Creator":[{"@value":"British Columbia. Legislative Assembly","@language":"en"}],"DateAvailable":[{"@value":"2018-08-16","@language":"en"}],"DateIssued":[{"@value":"1965","@language":"en"}],"DigitalResourceOriginalRecord":[{"@value":"https:\/\/open.library.ubc.ca\/collections\/bcsessional\/items\/1.0371067\/source.json","@language":"en"}],"FileFormat":[{"@value":"application\/pdf","@language":"en"}],"FullText":[{"@value":" PROVINCE OF BRITISH COLUMBIA\nTwenty-fifth Annual Report\nof the Business Done in Pursuance of the\nMUNICIPAL\nSUPERANNUATION ACT\nfor the\nYEAR ENDED MARCH 31\n1964\n  To Major-General the Honourable George Randolph Pearkes,\nV.C., P.C., C.B., D.S.O., M.C.,\nLieutenant-Governor of the Province of British Columbia.\nMay it please Your Honour:\nThe undersigned respectfully submits the Report of the business done in pursuance of the Municipal Superannuation Act during the fiscal year ended March 31,\n1964.\nWESLEY D. BLACK,\nProvincial Secretary.\nProvincial Secretary's Office,\nVictoria, B.C., November 17,1964.\n Sir,\u2014I have the honour to lay before you the Report of the business done in\npursuance of the Municipal Superannuation Act during the fiscal year ended March\n31, 1964.\nI have the honour to be,\nSir,\nYour obedient servant,\nW. H. FORREST,\nCommissioner of Municipal Superannuation.\nNovember 16,1964.\n Municipal Superannuation Report, 1963\/64\nReport of the Business Done in Pursuance of the Municipal Superannuation Act during the Fiscal Year Ended March 31, 1964\nSection 3 (1).\u2014The following employers adopted the Act during the year\nunder the provisions of clause (6), (c), (e), (\/), or (.) of this subsection, effective from the date shown:\u2014\nEmployer Effective Date\nVillage of Aennofield April 1,1963\nEsquimalt Municipal Sports Centre April 1,1963\nKeremeos Irrigation District April 1,1963\nMagistrates (B.C. Government Stipend) April 1,1963\nVancouver Island Regional Library !\u2014 June 1,1963\nVillage of Chetwynd . October 1,1963\nSchool District No. 29 (Lillooet)  January 1,1964\nSchool District No. 6 (Kootenay Lake)  January 1,1964\nSchool District No. 49 (Ocean Falls)  January 1, 1964\nAs at March 31, 1964, there were 278 active employer accounts in the Fund.\nSection 5.\u2014A statement of all moneys received and paid out under the provisions of this Act, and the assets and liabilities appertaining to the granting of\nsuperannuation allowances under its provisions, is given in the statement of revenue\nand expenditure and the balance-sheet appended.\nSection 6.\u2014Basic employee 5-per-cent contributions amounted to $4,653,-\n918.33, and employee voluntary and special agreement contributions amounted\nto $786,168.05. As at March 31, 1964, there were 20,344 active contributors.\nSection 8.\u2014(1) Employer contributions amounted to $4,505,324.20 in respect\nof current service and $1,527,687.60 in respect of past service. An amount of\n$2,461.13 was refunded to sundry employers to adjust contributions made in error.\n(2) Extra employer contributions totalling $2,885.77, being one-half of 1 per\ncent of salaries for Victoria firemen, were made under a special agreement with\nthis employer. In accordance with the provisions of individual special agreements\nwith 52 employers under the Act, a total of $337,687.28 was paid out in supplementing superannuation allowance payments. Of this amount, $173,772.66 was\nreimbursed to the Fund by the 52 employers and $163,914.62 was paid from the\nReserve Account, derived from interest earnings of the Fund in excess of 4 per cent,\nas authorized by section 10 (6) and Order in Council No. 1502, approved on\nJune 7, 1962.\nSection 70 \u2014(1) The Minister of Finance paid $75,000 into the Fund, which\npayment was in lieu of interest on the certificates of loan under the former Act.\n(2) The net rate of interest earnings of the Fund for the year was 5.21 per\ncent, and after charging administration expenses, 5.12 per cent; therefore, no\npayment was required by the Minister of Finance under this subsection.\n(3) An amount of $884,131.65, being the excess of the interest earnings\nover the required 4 per cent, was transferred to the Reserve Account, which totalled\n$1,616,117.03 as at March 31,1964.\nSection 13.\u2014Superannuation allowances were granted to 187 contributors who\nattained retirement age.    For analysis, see schedules of comparativi\nappended.\n M 6 BRITISH COLUMBIA\nSection 16.\u2014Superannuation allowances were granted to four contributors\nunder the total and permanent disability provisions.\nSection 17.\u2014Superannuation allowances were granted to the dependent in\nthe case of 25 contributors who died while still in service. Refunds totalling $57,-\n140.89 were made in the case of 32 contributors who died while still in service.\nSection 18.\u2014Refunds totalling $974,700.18 were made in the case of 2,057\ncontributors who left the service of their employers, and $5,442.72 was refunded\nto sundry employees to adjust contributions made in error.\nSection 22.\u2014Actuarial and administration expenses paid from the Fund\namounted to $70,933.93. The total administration expenses of the Superannuation\nBranch are distributed among the various funds administered on the basis of contributors and pensioners. A comparison of the annual unit cost per contributor\nand pensioner for the last six years is as follows:\u2014\n1958\/59 $2.92 1961\/62 $2.72\n1959\/60 3.18 1962\/63 . 2.73\n1960\/61 I    2.77 1963\/64 2.87\nSection 27.\u2014The securities held by the trustees on March 31, 1964, are set\nout in Schedule No. 2 of this Report. During the year $15,212,000 par value\nbonds were purchased, the average yield being 5.42 per cent; $561,750 par value\nbonds were sold at an average yield of 4.88 per cent; and $2,592,350 par value\nbonds were redeemed, resulting in a net increase of $12,057,900 par value bond-\nheld by the trustees between April 1, 1963, and March 31, 1964. The prices paid\nfor securities bought or sold are determined by market conditions at the time of\ntransfer. Every effort is made to invest the funds as soon as they become available\nn yield possible at the time of purchase.\n MUNICIPAL SUPERANNUATION REPORT, 1963\/64\nMUNICIPAL SUPERANNUATION FUND\nContributions as per requirements of the Municipal Superannuation Act\u2014\nEmployees, section 6\u2014\nBasic 5-per-cent contributions j\t\n$4,653,918.33\nVoluntary and special agreement contributions\t\n.q)T8__i,6S4_jl\n$5,440,086.38\nEmployers, section 8\u2014\nIn respect of current service (Schedule No. 1)\t\n$4,505,324.20\nIn respect of past service (Schedule No. 1)\t\n1,527,687.60\n2,885.77\nSpecial agreement supplementary pension payments (as\n173,772.66\n\t\n6,209,670.23\nMinister of Finance, section 10 (1)\n75,000.00\n4,114,106.88\n$15,838,863.49\nExpenditure\nSuperannuation allowances\u2014\nPai.1 from Hasir- Arronnt\n$2,217,299.67\nSpecial agreement supplementary superannua\ntion allowance payments\u2014\nPaid by former employers (as per contra) $173,772.66\nPaid from Fund Reserve Account    163,914.62\n337,687.28\n$2,554,986.95\nRefunds\u2014\nResignations, etc., section 18    .    .                     $974,700.18\nDeath in service, section 17      57,140.89\nMisr.Kllanp.rms pmplnypp.                                                      5,4-19.7?,\n1,039,744.92\nTransfer to Government of Canada Superannuation Account re\nemployees of the Vancouver International Airport\t\n114,256.89\nActuarial and administration expenses, sections 22 and 30\t\n70,933.93\n3,779,922.69\nNet increase of lp.rlEer asspts\n$12,058,940.80\n BRITISH COLUMBIA\nMUNICIPAL SUPERANNUATION FUND\nBalance-sheet as at March 31, 1964\nreceivab\nHetnTZ?'\"***\nutions,\netc, due from mu\nnicipalities, hospi-\nSchedule\nNo. 2) (par value\n$89,6\n2,100)\nms and discounts\nMunicipal Superannuation Fund Basic Acco\nEmployees' Retirement Annuity Account \u2014\nVictoria Agreement Bonus Account for Fire\nG. S. SOUTAR,\nCOMPTROLLER-GENERAL'S CERTIFICATE\nThe accounts of the Municipal Superannuation Fund for the year ended March 31, 1964,\nve been examined under my direction.\nSubject to the actuarial sufficiency of the Fund and the adequacy of the prescribed tables,\ns above balance-sheet is, in my opinion, properly drawn up so as to exhibit a true and correct\ntement of the affairs of the Fund, according to the best of my information and the explana-\nns given to me and as shown by the books of the Fund.\nC. J. FERBER, C.A.,\n MUNICIPAL SUPERANNUATION REPORT, 1963\/64                      M 9\nSCHEDULE No. 1\nContributions by Employer for Year Ended March 31, 1964\n|P\nB\nEmployer Contributions\n&\nJi\n\u00ab*..\u00bb.\nHi\nB\n9\nCourtenay Volunteer Firemen\t\nv!ff.\u00b0J.?s\u2014\n1          Nanaimo\t\n*lso!l\u00ab7tcZT~~\n536.945,832.12\n$2,036,045.17\n$862,875.42\n\"'11\n\u00ab*\u00ab*\u00ab\njii\nST*\"\"                             \t\nFraser Mills\t\n1 _6.29'_0\nill\nf^r\t\nMaple Ridge\t\n^rmr||ij\t\no.vRy3110011\"\"\u2014\nS\"T\"\u2014\n1\nH\nSalmon Arm\t\nTadanac ;\t\nWest Vancouver.- ^ ^ ____ ^^ ____M|_^\n M 10 BRITISH COLUMBIA\nSCHEDULE No. 1\u2014Continued\nContributions by Employer for Year Ended March 31, 1964\u2014Continued\nT\nEmployer C\nntributions\nEmployer\n&\u00a3_\nsSL\nTov,ns<4>\nss?\nHf\n_.:S.\n_y__a?(u_:^ ^\u2122\nill\n3,||\n^s?.-.    \u2014\n i_7_5\n_2\u00a3\u00a3 (e__c_ve October 1,190)\t\nG_lo^Landi.B\u2014\n\u2014ss\ns_s*   \t\n1,67947\n135.96\n?\u2122fere\t\n499\/16\n'if\n480.00\n377_\nM\n20604\nMontrose\t\n\u00b0'j^-\t\n33.96\nP^hp\"^\t\n691.36\n\t\nIII\n>||\nou\"r\u2122n.'iT7r \u25a0\t\n\t\ni.\u2122*\nIteZ?\"\t\nSlirwa\n142.50\n 1_7j5\nValemount (effective January 1.1964)\t\n900.00\n MUNICIPAL SUPERANNUATION REPORT, 1963\/64 M 11\nSCHEDULE No. 1\u2014Continued\nContributions by Employer for Year Ended March 31, 1964\u2014Continued\nHospital Employees' Union, Local [\nMagistrates (B.C. Government Stipend)  (\neffect!\ne April\nSSsbo\u00b0rolSaBridBeToirA_l_riti;\t\nB^a\n.y1fta_r_?._\u00bbi^rtter!i\t\nO.S\nrM^rW^aSs\u00b0^___________Z\nt hill.\nwack General\u2014Chilliwack _\nCUn*\nFraser Canyon\u2014How'--, ' .,\t\n M 12 BRITISH COLUMBIA\nSCHEDULE No. 1\u2014Continued\nContributions by Employer for Year Ended March 31, 1964\u2014Continued\n13T\nEmployer Contributions\nEmployer\nB\nJSL\nQueen Charlotte Islands General\u2014Queen Charlotte City.._\nSquamish General-Squa-nish'Ter       \t\nIII\nfl\n1\nSub-totals of 88 active hospital accounts\t\n$29,824,911.53\n$1,077,775.98\n$462,807.20\n  SCHEDULE No. 2\nit March 31,1964\nDvince of British Columbia _\nDvince of British Columbia gu\nBritish Columbia Power Cc\nBritish Columbia Electric (\nBritish Columbia Hydro an\nish Columbia Toll Highways a\nnd Bri\nges\nlfic Great Eastern Railway Coir\npany _\ncouver and Districts Joint Sev\nerage\nand\nDistrict\nDrair\nage\n37,688,350.00\nBritish Columbia ho\npital\nimprovement dis-\nBritish Columbia fire\nprot\n-ction and water-\n.ince of Ontario guarai\nOntario Municipal In\nUniversity of Toront.\nprov\nment Corporation\n1\/713\n24,293\n853\n566\n1,681\n3,344\n830\n350\n469\n6\n103\n3,092\n209\n2,501\n36,375\n900\n384\n393\n518\n345\n842\n000\n1,713\n839\n023\n759\n MUNICIPAL SUPERANNUATION REPORT, 1963\/64 M 15\nslJJ.RlJ.SsIssIsislls\n*   1\n5    w   ^\nII\nSUsi!!!;\n M 16                                              BRITISH COLUMBIA\nSCHEDULE No. 4\nMunicipal Superannuation Fund\nComparative Statistics, April 1,1949, to March 31,1964, Subdivided\nAccording to Sex of Contributor\nFiscalYear\nipi\nIS\nSuperannuation AUowances\ny2?\n\u00a7_&\u00a3\u00a3\n__*\u00ab\nMai.\nFemal\nMale\nFemale\nMai\nFemal\nMale\nFemale\nMale\nFemale\n_.\n2\nU\n5.3\n53,\nSF6\n|\nTs\n14\nTo\n!!!\n1\nIII:::\ns!\n MUNICIPAL SUPERANNUATION REPORT, 1963\/64 M 17\nSCHEDULE No. 5\nMunicipal Superannuation Fund\nComparative Statistics, April 1,1955, to March 31,1964\u2014Allowances Granted\nand in Force, Subdivided by Type and Plan of Allowance\nGranted during Year\nExp\n\u25a0red during Year\nIn Force ..End of Year\nFiscal Year\n1\n1\n-I\np\n1\n1\ntil\nI\n|\n1\nti\nill\nJ\n__*\nJ\n^\nI\n_\n|\n|\n|\n1\n\u201e\n\"No^retirement\t\n1\n__6\nJ\nI\n%\n1\n_\n\u00bb\nJ|\n356\n398\n806\nTotals .\t\n13\n6\n6\n69\n26\n37\n15\n14\n449\n371\n453\n822\nI9NoiS_J retirement           .\nl\n_2\nI\nJ!\ns\n32\n2i\nJ\nl\ng\nl\n851\n19NoS_J retirement\n|\n_!\n1\n1\n\\\n1\n|\n1\nl\n1\n1\n894\nIppr'\u25a0'! ^ ]-\n4\n[\n|\n1\ng\ng\n|\n|\nl\n2?S\nI4\n954\n19Not__. retirement\t\ni6\n2!\n\\\n1\n!S\n2i\nao\n_i_\n|\n2_o\n351\n1,059\n39\n19NoS_7rrtirpmpn.\ni4\n1\nI2\n144\n4;\n-l\n24\n|\nl\n272\nM\n46\nTi\nj\nIff\n131\n1\n2.\n|\nEE\n|\n|\n32\n19NoS_lretireme\n_3\n\"I\n1\n!f0_\n1\n1\n22\n__!\n\u201e\n_!\n8\n36\n18\n23 |   30\n29\n25\ng\nj\"\n  MUNICIPAL SUPERANNUATION REPORT, 1963\/64\nSCHEDULE No. 6\u2014Continued\nMunicipal Superannuation Fund\u2014Continued\nContributors\nPennon-\nEmployer\nClassl\nOassn\nClass HI\nClass _V\npSo__\nTonus <4>\n1\n\u2014\nJ\nE\nIli\nVillages (62)\n|\nE\ni\nE\n|\nHarrison Hot Springs\u2014\t\nWton-\t\nS*\t\n2\nM\u00abr'tt-\t\n|\np\u2122b\/?\u00b0\u00b0\";\t\n\t\nQ-2- Beach __\ni\nSeS*\"\"      -\n10\nsiw\u2122 :\u2014| :\t\n4\nl_i__;\t\n\t\n10\n BRITISH COLUMBIA\nSCHEDULE No. 6\u2014Continued\ncipal Superannuation Fund\u2014Continued\nit March 31,1964\u2014\nQueensborough Bridge Toll Authority  7     1           |      7\nArmstrong and Spallumchccn\u2014Armstrong | * |  8  | %\n MUNICIPAL SUPERANNUATION REPORT, 1963\/64\nSCHEDULE No. 6\u2014Continued\nMunicipal Superannuation Fund\u2014Continued\nGorteR\u2122\nDist^tGenera\n-Golden__-\n^\u00b0SyG\u00a3\u2122c1\u00b0G_\n4S-\n^m\nKo^ayL\nale'SSrS-S\nHsTm-\n-i\u2014\nLady Minto\n'1\"U\u2014\n\t\nand District G\neneral\n-Lady;\nill\n^rtfrVai-cpu\nver___.\n j\n\u00a35_&\u00a3a-\n\"Sis\n5=^\n 1                   1\nM 22                                               BRITISH COLUMBIA\nSCHEDULE No. 6\u2014Continued\nMunicipal Superannuation Fund\u2014Continued\nNumber of Contributors and Pensioners by Employer, as at March 31,1964\u2014\nContinued\n__~-\nContributors\nPensio.\nill\nClass I   | Class II\nc_\u00bbin\nClass IV\nSia_t^_I-C__^r______\t\n4*\nE\n~\nl\nJ\n2fr\nvS\u00bb_ter-Se*_^V____\u2014\u2014-\nSs^^_5S___-=\n\u2022     Su^n%\u00b0\u00a3 88 acU\"' h\u00b0Spital\n1 476\"\n6,325\n553\n8 3547.\nScnoolDUtricHW\n}\\\n-1\nJ\n=\nl\n1\nSl(_Uver^o.72)\t\n|\n=\nCowichan (No. 65)\t\nFraser Canyon (No. M)\t\n^|p^\t\nP\u2122 George (No. 57) _\t\nQualicum (No] 69)\nQuesnel (No. 28)\t\n1\n MUNICIPAL SUPERANNUATION REPORT, 1963\/64\nSCHEDULE No. 6\u2014Continued\nMunicipal Superannuation Fund\u2014Continued\nNumber of Contributors and Pensioners by Employer,\nContinued\nat? at Marc\/. 31,1964\u2014\nContributors\nPension-\nC___u-\nClass!   | Classn\nCtassIII\nClass IV\npS3o_.\n>_j^f^g_^r^\n_\nI\nI\nE\nI\n28\nS_SfSi?%53>\t\n52\nWilliam. T at* (Kn 77)\nS*%SS%J%J!LactiTe !ch001\n1,808\n5668*\n76\n226\n2 6768.\n^o\u2122..278   aCtiVe   emPl\u00b0yer\n\u25a0\ng\n1,772-\n6,669\n2,87\n","@language":"en"}],"Genre":[{"@value":"Legislative proceedings","@language":"en"}],"Identifier":[{"@value":"J110.L5 S7","@language":"en"},{"@value":"1965_V02_06_M1_M23","@language":"en"}],"IsShownAt":[{"@value":"10.14288\/1.0371067","@language":"en"}],"Language":[{"@value":"English","@language":"en"}],"Provider":[{"@value":"Vancouver : University of British Columbia Library","@language":"en"}],"Publisher":[{"@value":"Victoria, BC : Government Printer","@language":"en"}],"Rights":[{"@value":"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","@language":"en"}],"SortDate":[{"@value":"1965-12-31 AD","@language":"en"},{"@value":"1965-12-31 AD","@language":"en"}],"Source":[{"@value":"Original Format: Legislative Assembly of British Columbia. Library. Sessional Papers of the Province of British Columbia","@language":"en"}],"Title":[{"@value":"Twenty-fifth Annual Report of the Business Done in Pursuance of the MUNICIPAL SUPERANNUATION ACT for the YEAR ENDED MARCH 31 1964","@language":"en"}],"Type":[{"@value":"Text","@language":"en"}],"Translation":[{"@value":"","@language":"en"}],"@id":"doi:10.14288\/1.0371067"}