Luis voruntary insurance system against U has also provided for the benefit of the emplo 1 Railways and Prince Edward Island Railw ich was established by the Act of March 27th ter amended in 1908 and in June 1913. Und 1 persons and the state contribute equal shar tion, however, cannot exceed $100,000 per a st monthly contribution is fixed at three per wage, and the remainder at one and one-ha are given, (1) to those who have attained th se who have become physically or mentally in ersons who have attained the age of 60 and w service (after 15 years of service in all the ersons permanently disabled, as a result of in and (5) to persons who at the time when th already reached the age of seventy and who years in the service. The amount of the pens one-half per cent. of the average monthly pa e 8 years immediately preceding the grantin ultiplied by the number of years of service. er, is $20 per month, and cannot be more than rage monthly wage. It is also provided that b become entitled to participate in any of the be months on probation, during which period he fund. ITALY. National Institution For the Insurance of Wor ty and Old Age" was establish in 1898. Since age es of ars, a 1907 er this es, the unum. T cent alf per the age incapawish to e three injuries the act ho have nsion is pay re ating of ce. The han two at before benefits he must the minimum is nine lire. The govern 1 exceed ten lire ($1.93) per annum. tions is required, but this period may vanced in years; and special subsidies whose acquired pension would be too invalidity-which means the reduction normal earning capacity-payment of years of contributions to the fund hav lidity fund has been created for this pu given to invalids. The amount of annuities range from ($69.48). At the end of 1910 the tota was 300,000 amounting to some $5,00 according to Dr. Rubinow, after twelve constituted only 2 per cent. of the t ployed in that country. He also claim growth for the Italian system seems t 50,000 new accounts were started, in than 29,000."* *The figures presented by Dr. Rubinow, in his book number of new persons insured in 1906 as 150,000. Th error, as the "Bollettino Dell Ufficio Del Lavoro, 1904 Auslande, Dr. Zacher, (quoted in the Twenty-fourth missioner of Labor, Vol. 2, p. 1895, 1909), give the as 50,791. The figures given in the same table for the not seem to warrant his conclusions. The table follows Worker 1903, ince the བབཔ་ insurance departments which may 'issue p f persons, and sell annuities in accordance provided by the State Insurance Commiss nks have no stockholders and are operated the depositors. he plan stated that the purpose of the act was: usetts wage-earners an opportunity to secure the lowest possible cost, as a substitute for i ce; (2) To give to Massachusetts wage ty to make provisions for their old age by the rent earnings, of annuities at the lowest po also designed to furnish a partial solution o ling for the superannuated workingman, by ma for saving the workingman's money as num ties for wasting it."* ngs bank insurance system the following forms ed to residents of the Commonwealth of Massa regularly employed therein: (1) Straight Lif enty Payment Life Insurance; (3) Twenty Year ce; (4) Old Age Annuities; (5) Combination In ies and (6) Immediate Annuities. The maxi licy written is $4,000 and the maximum ann re than $800 per year. nvolved in the administration of the savings e largely by the State. In order to reduce the this form of insurance, banks are not permitte icitors or house-to-house collectors of insur tts Commission, pp. 191-92, 1910. |