}
512
calculation to the selected staff and so to avoid the necessity of reference to the Actuaries. Of the two
I strongly favour the latter for, while dilution involves
a serious risk of providing Mr. Young with an unreliable basis for his calculations, it may be fairly assumed that
a staff, which is capable of accurately providing the preliminary information, will not find the further task of
applying the new Tables beyond its capabilities.
I propose therefore with your approval to employ this staff immediately on the calculation of existing pensions (of which there are only 200) allowing them some remuneration for their additional work, and to detach one
officer to work gradually through the whole of the registers,
interrupting such work only when, on the death of a
contributor, a prospective pension becomes actual.
By this means it is thought that the
calculation of existing pensions can be completed in two
months.
I have the honour to be,
sir,
Your most obedient humble servant,
Governor, &c.