NATIONAL PROVIDENT FUND
SATISFACTORY OPERATIONS.
# The twelfth annual report of the National Provident Fund Board was presented in the House of Representatives yesterday by Sir R. Heaton Rhodes, chairman of the board, and Minister in charge of the Department. At the 31st December, 1922, the close of the period under review, the contributors to the fund numbered 22,118. The total of the fund was £793,143 17s lOd, an increase of £160,618 17s 4d over the previous year, while the income from all sources amounted to £203,358 19s sd, of which £131,542 7s 5d represents payments by contributors. The rate of interest earned, £5 6s per cent., shows a substantial increase. Maternity allowances amounted to £38,876 —£31,604 for "approved" friendly-society members and £7272 for contributors to the fund. The amount of £12,001 8s 5d was paid in allowances on retirement anaVjncapacity, and 1 to widows and children? The expenses of administration as measured against the ordinary contributors' business were at the rate of 24.8 per cent, of their contribution's, showing a substantial reduction as compared with .29.8 per cent, for the previous year.
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Bibliographic details
Evening Post, Volume CVI, Issue 27, 1 August 1923, Page 6
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182NATIONAL PROVIDENT FUND Evening Post, Volume CVI, Issue 27, 1 August 1923, Page 6
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