Big Deficit.

Papuan Government Super annuation Fund.

From Our Own Correspondent.

Pt. Moresby, March 22.

THE Papuan Government Superannua tion account for the 12 months ended on December 31 shows a rapid in crease in the annual deficit —a deficit which has to be borne by the public re venue.

Contributions received from officers during the year amounted to £3035; in terest to £1287; the total was £4322.

Pensions paid out amounted to £7493; expenses, £50; total, £7544. The deficit of £3221 will have to be found by the Government.

In 1931 the deficit was £1841 and it is estimated it will amount to somewhere near £4500 for the twelve months end ing December, 1933.

The Board’s investments now total £29,675, all in Commonwealth National Conversion Loan, 4 per cent. One hun dred and sixteen officers of the Public Service contributed to the fund last year and twenty-five drew superannuation al lowance.

In July of last year at the annual meeting of the Legislative Council, the question of the payment of £3250 from the revenue to the Superannuation Fund in the estimates was brought up. It was then considered unwarranted that the public should be called upon to bear this expenditure, and it was pointed out that every member of the community had made sacrifices except public servants.

In answer, it was stated that the whole scheme was inaugurated by the Government for the primary purpose of securing efficient, and continuous service and that it was never intended that the scheme would be supported solely by the contributions of officers from their salaries. Officers contributed five per cent, from their salaries and the Government took a share of the financial responsibility by having the fund guaranteed by the public revenue.

This responsibility the Government was legally bound to meet whenever the necessity arose.