A statement of the present position of the Bengal Medical retiring Fund.

  • Bengal Medical Retiring Fund.
Date:
[1869]
Catalogue details

Licence: Public Domain Mark

Credit: A statement of the present position of the Bengal Medical retiring Fund. Source: Wellcome Collection.

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    Officer who looks forward to the Fund as a means of enabling him to retire from the service.* 10. This result is more favorable than what must sub¬ sequently take place, as the position of many of the re¬ cent annuitants was improved ny the great loss of life during the mutiny. It will be obviops therefore that the slowness of promotion of the juniors will be very great, and tkat they cannot look for any real benefit from the Fund, but will have to continue a compulsory subscription extending over probably 30 or 31 years; should such be the case, each subscriber will have paid more than the real value of his life as calculated by any annuity office in the world. 11. At the present day it is hardly necessary to show that the sum of money paid by each member on attaining 51 years of age to secure an annuity of £300 from the Ben¬ gal Medical Retiring Fund would, considering his time of life and the effects of long residence in a tropical climate, purchase an annuity of greater value from any annuity society, or, what is probably of greater importance, he might have the capital sum at his disposal on retirement. It has been too often and too painfully seen how short a time retired officers have enjoyed the annuity derived from money which, if otherwise invested, would, at their death, have been left for the benefit of their families. Moreover, any one wishing to purchase an annuity at the ordinary rate would do so only on condition that his life was a good one, and the Tables, as drawn up by Griffith Davis and subscribed to by the members of the service are likewise based on the supposition that the applicant’s con¬ stitution is unexceptional. Apply this to the Medical * Noth.—At page. 22 of Mr. Samuel Brown’s report on the Bengal Medical Retiring Fund the average age of the 31 last annuitants is seen to be 51 045,