CO885-(26N14) — Page 422

1

336

PUBLIC RECORD OFFICE

Reference:--

TILE CO

885/26

PUBLIC RECORD OFFICE, LONDON

ALLY WITHOUT PERMISSION OF THE BE REPRODUCED PHOTOGRAPHIC-

COPYRIGHT PHOTOGRAPH—NOT TO

114

Dr. Bagshawe's Pension Fund.

Figures taken from Annexure 1 (paragraph 5) of proposals placed before 35th meeting of T.D. Bureau, as being amounts which might be provided on the principle of pensions in the Home Civil Bervice.

Estimated amount accumulated by the and of each year which would be available for payment to Dr. Bagshawn's dependente in the event of his death, on the basis of an annual provision of £498 186.

If invested by Crown Agents at estimated rate of 4 per cent. per annum.

(4)

If paid to Insurance Co. and accumulated at rate of 34 per cent. per annum.

The sum of £971 11s. 3d.

now available, if

invested at an

estimated rate of

141 per cent. per annum

would produce

(1)

(2) Annual

(3)

(5)

(6)

In

Pension.

Lump Sum.

£

6.

d.

£ s. d.

£

8.

d.

£

B. d.

£

s. d.

1924

280 0 0

933 6 8

1925

292 10

0

966 13 4

520 0 0

515 0

0

1926

305 0 0

1,000 0 0

1,062 0 0

1927

317 10 0

1,033 6 8

1,627 0 0

1028

330 0 0

1,066 13 4

2,217 0 0

1929

342 10 0

1,100 0 0

1930

355 0 0

1931

367 10 0

1,133 6 8

4 1,166 13

2,831 0 0 3,471 0 0

1,047 0 0 1,596 0 0 2,163 0 0 2,748 0 0 3,352 0 0

*

0 1,013 0 1,056 0 0

0 1,102 0 1,149 0 0 1,199 0 1,250 0 0 1,304 0 0

0

It would not be necessary to make a full payment of £498 188. in 1931. No figure is shown for 1931, as first part of policy would be complete when Dr. Bagshawe reaches the age of 60 and the Insurance Company would then have to provide an annuity of £367 10s.

£ S.

The estimated cost of an annuity in 1931 of £367 10s. per annum (see

Annexe 2 of proposals placed before 35th Meeting of Committee) is 3,991 0 0 When the 7th annual payment falls due in 1931, there will have been

accumulated (as above column (4)) .

The income during 1931 on the £3,471 already accumulated by 1930

would be, on a 44 per cent. basis, say

3,471 0 0

£520 0 0

147 0 0

£373 0 0

Deduct further the excess of accumulations from investment of £971 11s. 3d. by 1931 (column (6) above) viz. :..

Less the lump sum payable in that year (column (3)

above)

£1,304 0 0

1,166 13 4

137 6 8

Estimated net amount required to be paid to Crown Agents

in 1931

-

£235 13 4

The estimated total payments (excluding the surplus from the investment of £971 11s. 3d.) made to the Crown Agents would therefore be about £125 less than the seven annual payments which would have to be made to the Insurance Company.

54526

115

No. 34.

MINUTES OF THE THIRTY-NINTH MEETING OF THE MANAGING

COMMITTEE OF THE TROPICAL DIEASES BUREAU, HELD WEDNESDAY, THE 12TH OF NOVEMBER, 1924.

Present:

MR. A. FIDDIAN, Chairman.

DR. A. BALFOUR.

SIR HAVELOCK CHARLES.

SIR WILLIAM FLETCHER.

DR. A. E. HORN.

SIR WILLIAM LEISHMAN.

MR. P. B. B. NICHOLS.

MR. J. B. SIDEBOTHAM, Secretary.

DR. A. G. BAGSHAWE, Director of the Bureau,

ON

also attended.

The

1. MINUTES of the 38th Meeting* of the Committee were confirmed. Committee had before them a statement of Dr. Bagshawe's Pension Fund Account for the period 1st September to 30th September, 1924, which had been received from the Crown Agents for the Colonies.

2. The Director of the Bureau then presented a statement of accounts for the half-year, April to September, 1924. No criticisms were made by the Committee on this statement. -

3. The Committee then proceeded to consider the question of the renewal of the Treasury grant-in-aid to the funds of the Bureau, and the renewal of other grants expiring with the current financial year.. Dr. Bagshawe explained that fresh application would have to be made for the grants from the Soudan, South Africa, North Borneo and Ceylon. The Committee had before them a memorandum§ by the Director of the Bureau on the subject of the renewal of the Treasury grant- in-aid. Dr. Balfour expressed the view that a refusal on the part of the Treasury to renew the Parliamentary grant would afford a pretext for the Colonies to with- draw their grants, and inquired whether there was any danger of the Treasury refusing to do so. The Chairman stated that there was always a danger that the Treasury might be inclined to take a strictly economical view of a matter of this kind, especially as funds were not plentiful at present. Sir William Leishman concurred in the view expressed by Dr. Balfour, and remarked that the Treasury got very good value for their contribution, as would be seen by reference to the fifth paragraph of the Director's memorandum. Sir Havelock Charles stated that he was hopeful that the new Secretary of State for India might be able to persuade the Government of India to restore their contribution to its former figure. After further discussion, it was agreed by the Committee that the Treasury should be approached with a view to a renewal of the grant-in-aid, and that the Director's memorandum should form the basis of the reference to the Treasury.

4. The Committee then considered a proposal by Dr. Bagshawe for a change of grading in the staff of the Bureau. Dr. Bagshawe said that he was anxious to engage a Junior Assistant Secretary, at a commencing salary of £130 per annum, in place of the Second Assistant Secretary, who had left the Bureau at the end of October. A saving of £75 per annum would result from this arrangement, which would be satisfactory so far as the work of the Bureau was concerned, though later it might prove desirable to revert to the original arrangement. In reply to a question by Dr. Horn, Dr. Bagshawe stated that the Junior Assistant Secretary would not at present come under the Federated Superannuation Scheme for the Universities, as her salary would be below the limit necessary for benefits under this scheme. The Committee approved the Director's proposal.

5. Dr. Bagshawe then requested the Committee to approve the following expenditure in connexion with the decoration of further accommodation acquired by the Bureau:—

Distempering of room and decorating ceiling Cost of linoleum and laying same

* No. 83.

I 2

Annexure 1, † Annexure 2. § Annexure 9.

£ 8. d.

8 10 0

13 8 61

|| See Annexure 4.