103
provision for them, Funds were established
in
during the eighties and early nineties -
Ceylon, Mauritius, the Straits Settlements,
the Federated Malay States, Hongkong, Jamaica,
Trinidad and British Guiana; and all permanent
officers were required to contribute four
per cent of their salaries to the Fund. The
Government made in effect a large contribution
to the Fund by agreeing to pay interest
at the high rate of 6 per cent on the monies
belonging to the Fund which were deposited
with it. Pensions are paid to widows or
orphans of contributors according to Pension
Tables prepared by Actuaries based upon the
best mortality statistics available.
3. Early in the present century it became
evident that the Fund system, though
necessary to enable the pension system to be
started, was not altogether satisfactory, and
the