NATIONAL PROVIDENT FUND: SECOND ANNUAL REPORT OF THE BOARD FOR THE YEAR ENDED 31st DECEMBER, 1912.

Appendix to the Journals of the House of Representatives, 1913 Session I, H-17

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1913 NEW ZEALAND.

NATIONAL PROVIDENT FUND: SECOND ANNUAL REPORT OF THE BOARD FOR THE YEAR ENDED 31st DECEMBER, 1912.

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

The result of the year's operations is briefly indicated in the following table : —

The work of bringing the advantages of the fund before the public has proceeded principally by means of the official lecturers, who visit workplaces throughout the country for the purpose of explaining the special features of the fund and enrolling employees. The officials of the Postal Department at the various offices have also done excellent work in enrolling contributors. At the present date the total applications from all sources number over 4,000. It will be observed that the average weekly contribution per member has, since the lecturing campaign began, gradually fallen from 2s. 3d. to Is. Bd. per week. This is a satisfactory feature as it is mainly due to a larger proportion of younger lives being enrolled. The Board wishes to express its appreciation of the sympathetic reception accorded the lecturers by tiie Press and employers generally throughout the Dominion. Many employers have shown a desire to co-operate with the fund in the interest of their employees, particularly for superannuation purposes. It is found, however, chat the Act does not provide sufficient machinery for co-operative action on these lines. The first benefit due under the Act is now payable, maternity grants having been claimed by thirty-one contributors to the amount of £171 during the year ended 31st December. A statement of expenses incurred is appended hereto. The rate comes out at 28 per cent, of the contribution income, as compared with 55 per cent, in 1911. The statutory Revenue Account and balance-sheet, together with the statements of membership and allowances, are attached hereto. J. W. Poynton, Chairman of the Board. Robt. B. Hayes, Wellington, 27th March, 1913. Superintendent of the Fund.

t 31st December, 1911 t 31bt December, 1912 Number of Contributors. 550 2,660 Annual Rate of Contribution payable. £ s. d. 3,171 15 8 11,726 13 0 Amount of Fund. £ 1,826 10,038

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NATIONAL PROVIDENT FUND. (1.) Revenue Account for the Yeak ended 31st December, 1912. £ s. d. £ c. d. Amount of fund at beginning of year .. 1,825 13 7 Maternity claims (section 18) .. .. 171 0 0 Contributions .. .. .. .. 6,998 2 10 Refund of contributions on lapse, reducInterest .. .. .. .. 155 19 7 tion, and withdrawal (sections 10, 11, 12, Fines .. .. .. .. .. 95 3 4 and 13) .. .. .. .. 411 3 9 Government contribution under section 25 1,388 17 1 Death : Refund of contributions (section 15) 14 4 3 Refund of maternity claims by the State.. 171 0 0 Refund of contributions overpaid .. 7 0 2 Contributions overpaid .. .. .. 7 0 2 Amount of fund at end of year .. .. 10,038 8 5 • £10,641 16 7 £10,641 16 7 (2.) Balance-sheet as at 31st December, 1912. £ s.. d. I £ s. d. Fund as per Revenue Account .. .. 10,038 8 5 ! Invested with Public Trustee .. .. 7,135 1 5 Claims due and in course of payment ! Contributions outstanding or in course of (maternity)*.. .. .. .. 48 0 0 j transmission —* Refunds in suspense .. .. .. 184 4 1 («) Contributions due but not overdue 1,678 17 5 Deposits on incomplete applications to join 0 9 3 (b) Contributions overdue .. .. 356 4 0 Contributions prepaid .. .. .. 746 12 11 Government subsidy accrued* .. .. 1,559 17 1 Amount of refund due from Consolidated Fund .. .. .. .. 12 0 0 Balance at Head Office .. .. .. 3 19 10 Balance with Post Office .. .. 182 13 11 Fines due .. .. .. .. 89 1 0 £11,017 14 8 £11,017 14 8 * Included in Revenue Account. Robt. B. Hayes, Examined and found correct. Superintendent. Robert J. Collins, A. T. Tbavebsi, A.1.A., Controller and Auditor-General. Secretary.

Numerical Statement for the Year ended 31st December, 1912.

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Numbers. Class 1. Pension Bat M. j F. I Class ■6,iob. Vensi Z; T. M. I F. I. Class 3. tote, Pension Bate, 30s. T. M. I F. j T. Peni Jlass 4. 3ion Rate, 40s. F. [ T. Aggregate. M. F. T. Annual Contributi on M. i Number of contributors at commencement of year New entrants during the year Transfers from another class Increases due to adjustment on age-error, &o. 369 1782 7 53 164 1 422 1946 8 55 187 4 30 I 26 1 85 16 '' 6 ! 22 I 85 218 213 19 1 20 5 5 112 18 30 1 3 1 21 31 1 458 j 2018 13 92 192 3 550 2210 16 £ s. d. 3,171 15 8 9,046 14 0 47 4 8 5 17 0 Total .. Discontinuances, &c. (as per detailed statement below) 2158 74 218 14 2376 88 246 14 57 2 303 36 8 ' 44 16 3 2 5 303 16 49 6 4 1 53 7 2489 97 287 19 2776 116 12,271 11 4 544 18 4 Total at end of year |2084 |: j 204 |i J2288 |: |232 I 55 [i 1287 38 6 i i 39 I I1TI I 3 I 46 I |2392 |268 |2660 11,726 13 0 Death Notice of withdrawal Lapse Attainment of pension-age Transfers to another class Deoreases due to adjustment on age-error, &c. Del tails of D fecoi iraiww uani ies, (Sic, dun ■ing 1 the Yea; 3 90 7 13 4 4 429 8 8 40 19 0 3 63 3 13 3 76 3 7 2 '2 '9 2 '.8 " 1 3 1 2 1 '.'. 2 1 3 75 6 15 1 5 1 6 5 '5 1 1 3 'i '4 13 3 16 60 9 0 0 17 4 Total .. 74 14 88 14 j ! 2 i I 16 3 2 5 6 l 7 97 I 19 116 I 544 18 4 Total entered Total transferred from other classes 2151 : 7 Nwi \meric Ml I Progi ress .since J7i stabl lishn nent. 2476 1 13 : 2760 16 217 1 2368 8 242 4 56 1 298 5 35 I 7 1 ; 1 42 2 48 1 4 ; 52 .. I 1 i 5 ? i284 I 3 1 2158 218 2376 246 57 303 44 49 4 j 53 I 53 2489 287 2776 12,271 11 4 36 8 Total discontinued Total transferred to other classes 1 69 5 13 1 82 6 9 5 2 11 5 3 1 1 4 1 3 3 3 1 4 3 4 84 13 16 i 3 100 16 14 2 3 2 74 88 14 16 5 6 1 7 7 97 j j 19 116 544 18 4 Total contributors on books at 31st December, 1912 12084 204 2288 232 55 287 33 ! 6 39 43 3 40 46 2392 i j268 2660 11,726 13 0

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Expenses of Management for the Year ended 31st December, 1912. Salaries and clerical assistance— Head Office— £ £ Salaries ... ... ... ... ... 81 Extra clerical assistance ... ... ... ... 378 Lecturers' salaries ... ... ... ... ... 313 772 Printing ... ... ... ... ... ... 373 Postage ... ... ... ... ... ... 276 Travelling-expenses ... ... ... ... ... 192 Remuneration on enrolment of contributors ... ... 247 Other expenses... ... ... ... ... ... 110 Total ... ... ... ... £1,970 Approximate Cost of Paper. —Preparation, not given ; printing (1,500 copiea), £3.

By Authority : John Mackay, Government Printer Wellington.—l9l3. Price 3d.]