NATIONAL PROVIDENT FUND.

Dominion, Volume 5, Issue 1479, 29 June 1912, Page 4

NATIONAL PROVIDENT FUND.

' THE FIRST REPORT. - '" ■ The first report of tho National Provfr' . dent Fund Act was presented to Pnrliej meut yesterday. It covers tho pers&o from March 1, 1911, to Dee-ember 31,, 191 1j The managers of tho fund state that at first relied upon advertisements nnd posters to attract contributors, and that, a largo number of persons joined tho; fund quite spontaneously. In NovembfeF' the board controlling tho fund dispatched a lecturer to visit tho various cenfjeS. - and as a result,of tSic lectures, combined ' with an improved plan of enrolling con-;.. tributors by postal officials, . thero- waSi a considerable increase in fe applied cum rate.-; ,eii<l of March, 1912,*« over'ono thousand applications'had beea'' ; recorded, although tho tecturer had only', bo far been able to work in Canterbury; I and Ilawke's liny, and to a lesser extelvt ; in Otago. The expenses of management" for the iirst year emtio out at 55 per cent, ftf tho contribution income, atiii this said to comparc favourably with the rata ' of initiatory expenses of' insurant bnsiJ ness in general, iuid much mow ably with that of offices transacting busiJ ness on weekly payments, as is tho cits* with the filiui. ■ ' I Detailed particulars appended ro witf report show that at tho end of last s;odS. the fund ainounit'd to J11825. Coiitribm {ions totullcd JCI&Q, and Government coiw tributions J6318. Contributors numbered,; at the end of 1811: Males, 4581 females; <J2; (total 550). Expenses of iiiaisageiiient, which are paid out of the Consolidated Fund, totalled .£B2B B's. Sd.