England Its People Polity And Pursuits

Cover England Its People Polity And Pursuits
England Its People Polity And Pursuits
T H S Thomas Hay Sweet Escott
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On the same terms it may be dissolved and its funds distributed if it is proved that it is unable to meet existing claims against it, or that the rates of payment are insufficient to cover the benefits assured. But in all these cases the initiative must be taken from among the members themselves, of whom the requisite number may be, and often are, too ignorant or too careless to exercise the 208 ENGLAND.
powers reserved to them, and in that event there is no independent authority whatever for t
...he correction of even the gravest and most obvious abuses.
Within the last few months the results of the first series of quin- quennial valuations under the new system of valuation have been published. * The assets and liabilities of between six and seven thousand societies have been subjected to actuarial comparison, and the facts arrived at in the process are certainly striking if not altogether unexpected. About fifteen hundred of the valuations show a surplus amounting in the aggregate to some £885, 000, while the other five thousand and odd valuations exhibit a total deficiency of upwards of £5, 000, 000.


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