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41
superannuation allowance of one-sixtieth af the average amount of his
salary or wages and emoluments for each year's service.
(b) Superannuation allowances to officers and servants who at the
commencement of the Act have attained 65 years of age, or 60 years and
have completed 40 years' service, are to be paid out of the General Rate,
and not out of the Superannuation Fund.
(c) Officers and servants ceasing to hold office in consequence of
misconduct forfeit all claim to superannuation. The Council may, however,
return to them part or all of their contributions.
(d) Officers and servants who resign before being entitled to superannuation,
or lose their office or employment by reason of reduction of
staff, or cease to hold their office or employment by reason of bodily injury
not occasioned by their own default, are entitled to receive a sum equal to
the amount of their contributions, and the Council (except in the case of
voluntary resignation) may also grant them a gratuity not exceeding two
years' salary or wages.
(e) In the event of an officer or servant dying before being entitled to
superannuation the Council is to pay to his legal personal representatives
a sum not exceeding the amount of all, and not less than one-half, of the
contributions of such officer or servant.
(f) The contributions of officers and servants are as follows, viz. :—
With less than five years' service at the commencement of the
Act, 2 per cent, of salaries or wages.
With more than five years' service, 2½ per cent, of salaries or
wages.
With more than 15 years' service, 3 per cent, of salaries or wages.
(g) The Superannuation Fund to be formed under the Act consists of :
(i.) The primary annual contribution out of the General Rate.
(ii.) The contributions of officers and servants.
(iii.) Dividends and interest arising out of the income of the fund ;
and
(iv.) Such amount of the General Rate as may be required to meet
any deficiency.
(h) An actuarial investigation is to be made every five years to fix the
primary annual contribution above-mentioned, and this is not to be less
than £400.
34. The following- Parliamentary Bills were considered by the
Council, viz.:—
London County Council (Tramways and Improvements).
London County Council (General Powers)
London United Tramways.
Parliamentary
Bills.