Q4 
MAJORITY REPORT. 
rate in the case of men from 7-44d. to 6:55d. and in the case of 
women from 7-20d. to 6-:85d., thus releasing weekly ‘89d. from 
the man’s rate and -35d. from the woman’s rate. It will be 
noticed that, as reduced, the woman’s contribution is higher than 
the man’s, although the woman's benefits are the lower. The 
Committee point out that this is the direct result of the heavy 
sickness and disablement claims among insured women. A 
further consequence of the change of basis is to reduce the 
reserves required at all ages over 16, and the Committee propose 
to utilise this element of relief to diminish the reserve values. 
They further bring into account the balance of the Reserve 
Suspense Fund, which is estimated to grow to £17,000,000 by 
31st December, 1926. Under existing regulations—which they 
assume will be applied in their integrity—this balance is to be 
applied to the cancellation or redemption (as the case may be) 
of reserve values, and in the normal course would have the effect 
of shortening the redemption period. The Committee see no 
reason for this curtailment of the redemption operations, and 
accordingly propose to utilise the reduction of the reserve values, 
under both the heads just mentioned, to diminish the part of the 
contributions which is retained to provide interest on and the 
redemption of reserve values. The reduction thus obtained is 
‘35d. from each weekly contribution in the case of men and -32d. 
in the case of women. Finally, in this connexion, the Com- 
mittee examine the part of the contribution which is paid to the 
Contingencies Funds, and arrive at the conclusion that it may 
properly be reduced to a farthing a week in the case of all 
members of Approved Societies, whether men or women. The 
release from the weekly contribution under this head is therefore 
31d. (men) and ‘15d. (women). 
179. The total result of all the above proposals would be to 
set free out of the present contribution an amount of 1:55d. a 
week in the case of men and ‘82d. per week in the case of women. 
In order that the effect of this may be clearly seen the Committee 
explain that, after allowing for the State grant of two-ninths, 
these sums would provide, throughout life, 7s. a year in the case 
of men and 38s. 9d. a year in the case of women, which amounts 
would thus become available for purposes for which no present 
provision is made from Societies’ funds. These latter figures 
would not, of course, afford assistance in the consideration of any 
form of expenditure. e.g., an addition to sickness or disablement 
benefit, which involved a variation of the charge with reference 
to age or family responsibility. 
180. The Committee point out that the effect of applying the 
sums released for any new purposes would be to absorb about 
£15,000,000 of Approved Society funds in the course of a quin- 
quennial period. The chief result of this, no doubt, would be 
to reduce the surpluses of Societies at succeeding valuations by