On the Calculation of the Contributions to be made to an Annuity Fund for Widows and Children, by the members of a Society, all of whom, whether married or single, are obliged to contribute

Extract

These notes were prepared at the request of the General Director of the Norwegian Railways (Mr. L. Segelcke), in consequence of a proposed reconstruction of the Benevolent Funds of the railways. Each traffic district has, besides the Pension Fund for its functionaries, a Benevolent Fund; and these latter funds have gradually accumulated considerable sums, out of which they grant allowances to widows of the functionaries; also, in exceptional cases, to retired functionaries in needy circumstances; but always in the form of gratuities given from year to year at the discretion of the Directors. As, however, there exists a strong feeling in favour of the conversion of the Benevolent Funds into funds securing a fixed annual provision for the widow, and for the children under a certain age (for instance, 18), I was requested to prepare a report on the subject.