Ernährungswirtschaftliche Gegenwartsprobleme in Österreich

Report of the Royal Commission on National Health Insurance

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Monograph

Identifikator:: 869930397

URN:: urn:nbn:de:zbw-retromon-49420

Document type:: Monograph

Author:: Kemmerer, Edwin Walter http://d-nb.info/gnd/101827717

Title:: Postal savings

Place of publication:: London

Publisher:: Humphrey Milford

Year of publication:: 1917

Scope:: 1 Online-Ressource (VIII, 176 Seiten)

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Appendix B

Collection:: Economics Books

MAJORITY REPORT. 77 their accrued liabilities, as actuarially valued, by about £37,000,000. In consequence of this change the portion of the contributions retained for the service of reserve values was reduced from 12d. to 1d. a week (men) and from 12d. tod. a week (women). The estimated amount of the reserve values out- standing at 31st December, 1926, is £61,000,000; it is expected that these credits will be redeemed, i.e., will be converted wholly into actual and invested assets, by about the year 1955. 164. As indicated in paragraph 159 above, the portion of the contributions which is applied to the Contingencies Fund is credited to the Societies. The Contingencies Fund of each Society is, in effect, a sub-account of the Society’s Benefit Fund, and the amount standing to the credit of the account is carried to the Benefit Fund after each valuation. In the event of the valuation showing a deficiency the amount thus transferred from the Contingencies Fund is available immediately for the restora- tion of solvency; but if the valuation shows a surplus, the transferred sum must be retained until after the next valuation when, if the financial position permits, it is released and becomes part of the surplus available for the provision of additional benefits. The same provision applies with regard to any balance of a Contingencies Fund which may remain after making good a deficiency. 165. There are two exceptions to this method of dealing with the Contingencies Funds. In the case of a Society with Branches, although each Branch has its own independent Benefit Fund, the Contingencies Fund is common to the whole Society. It is required to be applied in the first instance to make good any deficiencies appearing on the valuation of Branches (subject to certain reservations in cases where deficiency is due to malad- ministration), any balance then remaining being distributed over the whole of the Branches in suitable proportions. The other cases of exception are those of Societies with less than 1,000 members. In these cases a proportion of the Contingencies Funds, not exceeding one-half, is liable to be called upon for the redemption of deficiencies among Societies in the group, thus ensuring that these small Societies which may be deemed to be liable to excessive fluctuations due to paucity of numbers shall have some further security belyond their own resources, addifional vo that which is provided for all Societies by the Central Fund. 166. The purpose of the Central Fund is to make good the whole or any part of a deficiency which remains unprovided for efter a Society's Contingencies Fund is absorbed, or its rights against Contingencies Funds, as above explained, are exhausted, provided that the deficiency is attributable to causes beyond the control of the Society. It has been explained in paragraph 159 that a portion not exceeding one-eighth of the contributions to the Contingencies Funds may be retained by the Department concerned and credited to the Central Fund. In addition the

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