118
the actuaries to the Ceylon Fund. If on the other hand the Fund should on valuation show a deficit, as has occurred in some colonies, hardship and dissatisfaction are liable to be caused by the reduction of pensions which would necessarily follow. It is therefore much more satisfactory for all parties that the Government should take the responsibility and guarantee pensions which will not be liable to either increase or decrease and there is I think sufficient reason for being satisfied that the pensions which the new Ceylon Tables will provide will on the one hand be fair, if not more than fair, to the contributors and recipients, and on the other hand will not throw an unreasonable burden on the Government.
13. If this course is adopted any surplus which may be disclosed by the valuation which would be made would be devoted wholly