NATIONAL PROVDENT FUND

Star (Christchurch), Issue 12755, 26 September 1919, Page 8

NATIONAL PROVDENT FUND

The number of contributors to the fund at the close of the financial vear was 14,000. The annual revenue is now £70,000, and the : ccumulated funds amount io £230,000. The maternity claims dealt with during the yeirjimounted to £17,043, of °vhieh £13,744 was due to approved friendlv societies, anl £3899 to contributors to the fund. The amount of £17.000 has been expended by the. Government since the beginning of the war to meet the concession of one-half contributions in respect of contributors on active service as authorised by the 1914 Amendment Act. A noteworthy feature of the woj k is the increasing number of applications from local authorities for tables of superannuation benefits suitable for staffs, and the movement in this direction indicates that the majority of these bodies will shortly be incorporated in the system pioviucd by the Act. The ex-periei ce during the recent deplorable epidemic demonstrated in a ;:>r>n!’.or the value of the fund’s operations in the direction of assisting the dependents of contributors in cases where the wage-earner had died. The fund began opei aliens in 1912, and. consequently, the number of members wbo*bad the five-year qualification as “continuous” contributors was not large in 19IS, but nevertheless the board was able to authorise the payment of claims for widows and children aggregating £19,092. With the rapidly increasing membership and consequent development of the scheme it is reasonable to expect most important results to the community in general from this benefit system An amending Bill will be introduced to carry out the arrangements that have teen made with friendly societies in respect to maternity bonuses.