135
16
Appendix III.
EXAMPLES OF THE VALUE OF THE SUPERANNUATION FUND.
1. A joined the University on 1st January 1913, aged 33, on £800 per annum, rising by £25 annually to £1,000. He elected for the Sterling Fund and on 30th June, 1923, paid up all the back contributions (£480).
At
Possible Annuity.
age 50 his fund will amount to £3,120.11.10
£218. 8.10
55
60
"
59
""
£4,834.17. 4
£378.14. 7
£7,029. 6. 0
£628.11. 4
Assuming that the Committee's recommended scale is adopted and A commences to draw £1,450 on 1st January, 1930, the above amounts would be increased to:-
At age 50 55
Possible Annuity.
£3,120.11.10 (no change). £218. 8.10 £5,212.19. 9
£7,891. 8. 8
£408. 7. 0 £705.13. 2
60
2. B joined the University on 1st January, 1920, aged 28, on £600 per annum, rising by £25 annually; he was placed on £800 per annum on 1st January, 1924, rising to £1,000 by £25 annually. He elected for the Sterling Fund and on 30th June, 1923, paid up all the back contributions (£110 12. 6.).
At age 50 his fund will amount to £4.964.18. 2
3"
55
60
و,
و,
وو
£7,195.15. 1 £10,051. 8. 8
Possible Annuity.
£347.10.10
£563.13. 4
£898.16. 2
Assuming again that the scale recommended is adopted and B draws £1,400 in 1930 and £1,450 in 1931 the above amounts would be increased to :-
At age 50 55
31
60
Possible Annuity.
£ 6,062.18. 1 £8,979. 8. 0 £12,712.15. 3
£ 424. 8. 1
£ 703. 7. 9 £1,136.15. 9
3. C joins the University on 1st January, 1930, aged 28, on the proposed new scale of £1,100 per annum, rising to £1,450 by £50 annually. He elects for the Sterling Fund.
At
age
50 his fund will amount to £ 7,997. 3.10
55
60
£11,455. 9. 2 £15,882. 6. 5
,,
Possible Annuity
£ 559.16. 1
£897. 6.11 £1,420. 4. 2
Opposite each example under the heading "Possible Annuity" is placed the sum that could be obtained annually if the member decided to purchase an annuity with the sum which he obtained from the Superannuation Fund. These figures are conservative; it might be possible to obtain more favourable terms. They form an interesting com- parison with the pensions payable to Government officers.