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Untitled Article
annuities to be granted are to be regulated by the amount of the sum placed to the , credit of the respective claimants . ] The plan supposes that those members may claim their annuities at 56 ,, and also , that the interest of money may continue at or near < £ 5 per cent , in which case it proposes to allow each
claimant an annuity of £ iO per cent , upon the accumulated sum then placed to his credit . So far the advantages are equal to each class . But it is also proposed to raise a fund for the benefit of widows ^ and in the composition as well as application of this fund ^ it is of advantage to belong to the first class . The widows' fund is to be raised first by a premium of 5 s . to be paid by each married member ; secondly , by an extra fund to be raised by voluntary subscriptions , as explained at paae 55 and thirdly , by all the profits accruing tojthe pro visionary fund ' whether by members not claiming their annuities , or " dying without leaving widows to claim on their account , or acquiring more p roperty than will allow them or their widows to claim annuities from these funds .
This last provision at first sight appears rather extraordinary ^ but the motive of it is explained , art . 6 . ( page 79 : ) c < That as the late period of life at which many provisionally members will commence their contributions can afford but a comparativelytrifling and inadequate provision , it is thought expedient to increase the value of widows' claims , by adopting ; a criterion of
adversity which shall take ' the benefit of their subscriptions from those provisionary members who may reach a state of prosperity , in order to increase the advantages to those left in a state of indigence / ' This criterion of prosperity allows provU sionary members ^ subscribing from the 24 th day of June , 1806 r and who being then under 35 years of age , to be worth £ 60 Q at
the time of clamping their annuities ; but if possessed of property exceeding that amount , to transfer their payments to the widows' fund , for the above reasons . Members above 25 years of age , at that period are allowed to possess only 0 ^ 400 , or be * subject tt ) the same alternative ; and the members forming the third class will forfeit their payments to the widows' fund , if they be worth upwards of c £ lOO . The declaration , upon oath * of each member so circumstanced , to the directors , is the test
upon such occasions ; but should those members decline forfeiting their payments to the wido \ vs' fund , according to these criterions , an option is given to them of purchasing into the permanent classes , so as to avoid the consequences of any such ' criterions . In the distribution of the widow ' s fund , each
widowentitled to claim receives her proportion thereof , in addition to the sum paid in by her husband ; and the advantage of the several classes is , that the widows of members of the first clasg
Untitled Article
Tra nquillittf . 437
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Citation
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Monthly Repository (1806-1838) and Unitarian Chronicle (1832-1833), Aug. 2, 1806, page 437, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/mruc/issues/vm2-ncseproduct1727/page/45/
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