H.—l7

1919. NEW ZEALAND.

NATIONAL PROVIDENT FUND. EIGHTH ANNUAL REPORT OF THE BOARD FOR THE YEAR ENDED 31st DECEMBER, 1918.

Prepared in Terms of Section 23 of the National Provident Fund Act, 1910.

The total contributors to the fund at the 31st December, 1918, numbered 13,410, as compared with 12,124 at the close of the previous year. The total fund amounted to £246,901, an increase of £70,691. The gross annual contribution-rate at the 31st December last was £69,486 os. A total amount of £17,809 2s. was paid out through the fund during the year for maternity grants, the amount to contributors being £4,001 25., and to members of approved friendly societies £13,808. Satisfactory progress was made with the enrolment of staffs of local authorities for superannuation purposes, in terms of the 1914 Amendment Act, the majority of the principal bodies having now applied to become contributors. The expenses for the year were at the rate of 19 per cent, of the contribution income. \V. H. Hkhbiks, Chairman of the Board R. E. Hayes, Wellington, 20th September, 1919. Superintendent of the Fund, NATIONAL PROVIDENT FUND. (1.) Revenue Account for the Year ended 31st Decembeb, 1918. £ s. (i. I a 9. a. Amount of fund at beginning of year .. 170,209 1C 10 Maternity claims (section 18) .. .. 4,001. 2 0 Contributions.. .. .. .. 57,236 15 7 Maternity claims (approved friendly Intereßt .. •■ ■• 8,438 19 6 societies) .. .. .. .. 13,808 0 0 Pines .. • • ■. • • 371 9 9 Refund of contributions on lapse, reducBenefits refunded by deduction.. .. 534 12 8 tion, and withdrawal .. .. 5,605 11 0 Government contribution under Act .. 13,812 12 Hi Death: Refund of contributions .. 3,039 9 4 Refund of maternity claims by the State 17,809 2 0 j Allowances .. .. .. .. 526 410 Refunds unclaimed .. .. .. 441 12 2 ■ Pensions .. .. .. .. 314 0 8 Miscellaneous receipts.. .. .. 0 7 G Amount of fund at end of year .. .. 246,901 1 1 £274,855 8 11 £274,855 8 11 Balance-sheet us at 31st December, J!) IS. £ s. d. £ s. d. Fund as per Revenue Account .. .. 246,901 1 1 Invested with Public Trustee .. .. 224,972 5 5 Claims due and in course of payment'— * Balance with Post Office .. .. 1,902 10 4 Maternity .. .. .. .. 2,107 3 3 Balances in transit .. .. .. 720 13 1 Death .- .. •• 2,170 19 7 Contributions outstanding or in course of Allowances .. .. .. .. 185 18 5 ' transmission— * Refunds in suspense .. .. .. 1,727 1 6 (a.) Contributions in course of transDepoeits on incomplete applications to mission .. .. .. 3,533 0 7 join fund .. .. .. •• 011 5 (6.) Contributions due but not overdue 0,630 4 5 Suspense account .. .. .. 27 15 3 (c.) Contributions overdue .. .. 2,024 9 1 Contributions prepaid .. .. .. 1,588 10 10 Government subsidy due under Act , .. 13,812 12 11 Refund due in respect of maternity claims* 2,701 9 0 Pines due .. .. .. .. 253 1 2 One-half contributions of members of Expeditionary Forces due by the State* .. 1,218 9 4 £257,769 1 i £257,709 1 4 * Included in Revenue Accounf. Examined and found correct. R. E. Hayes, Robert J. Collins, Superintendent. Controller and Auditor-General.