H.—l7.

1932. NEW ZEALAND.

NATIONAL PROVIDENT FUND. TWENTY-FIRST ANNUAL REPORT OF THE BOARD, FOR THE YEAR ENDED 31st DECEMBER, 1931.

Prepared in Terms of Section 72 of the National Provident Fund Act, 1926.

At tie 31st December, 1931, the contributors to the fund totalled 29,359. The total income for the year amounted to £470,013 14s. 7d., including £248,882 lis. paid by contributors and £170,493 15s. lid. interest. The fund at the end of the year totalled £3,263,005 ss. 10d., an increase of £326,801 18s. lid. The benefits paid out by the fund during the year amounted to £188,970 14s. 10d., including maternity benefits of £43,582. The rate of interest earned was £5 13s. Id., as compared with £5 13s. sd. for the previous year. The expenses of administration in respect of ordinary contributors to the fund continue to show a satisfactory decrease, the percentage being 19-07, against 20-2 for the previous year. A. T. Ngata, Chairman of the Board. E. Witheford, Wellington, 14th July, 1932. Deputy Superintendent of the Fund.