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Some points of interest in the operations of Friendly Societies, Railway Benefit Societies and Collecting Societies

Published online by Cambridge University Press:  18 August 2016

Extract

Nearly twenty-two years have elapsed since the masterly essay of our President gave to the institute an opportunity for comprehensive examination of the British friendly society system. During the intervening period, phases of the subject have been occasionally before the Institute, but the period has been one of great activity amongst the friendly societies, and developments of interest to actuaries culminating, it may be suggested, in the co-operation of the State and the societies proposed by the Chancellor of the Exchequer, have emerged. In the circumstances it has seemed to me that the Institute might again survey this wide field of provident effort with interest to its members and profit to the community.

I propose accordingly to examine the more important groups of societies, paying particular regard in respect of the leading affiliated orders to the machinery by which it is sought to equip the constituent parts for the effective recognition of their duties; thence passing to some questions of special interest to ourselves. For the purpose of connected description it will be necessary to mention particular organizations, but I trust that nothing of what I have written may seem to depart from the excellent custom of neutrality which governs our debates. I venture indeed to say that so far from being unduly sensitive, all the societies which are striving for improvement (and I think this may be said of most of them) are receptive towards the stimulus of informed criticism.

Type
Research Article
Copyright
Copyright © Institute and Faculty of Actuaries 1910

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References

page 173 note * This is not quite correct. Each lodge appoints its own auditors, but the districts appoint “lodge book examiners” whose duty is to see that an approved system of book-keeping is followed in each lodge, and that the accounts thereof are properly audited. It is worth mention that a class of “Qualified Auditors” is about to be created, examinations being held throughout the country and certificates of competency issued to such as satisfy the examiners. The subjects of examination are the financial and other important rules of the Society, arithmetic and accounts.

page 202 note * See J.I.A., vol. xxx, p. 291, xxxviii, p. 108, xxxix, p. 337, and xl, pp. 196,200.

page 219 note * J.I.A., vol. xxxv, p. 328.

page 247 note * (See T.F.A., vol. iv, p. 170.)