NATIONAL PROVIDENT FUND: THIRD ANNUAL REPORT OF THE BOARD FOR THE YEAR ENDED 31st DECEMBER, 1913.

Appendix to the Journals of the House of Representatives, 1914 Session I, H-17

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1914. NEW ZEALAND

NATIONAL PROVIDENT FUND: THIRD ANNUAL REPORT OF THE BOARD FOR THE YEAR ENDED 31st DECEMBER, 1913.

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

Tin; membership and income of the fund increased considerably during 1913. The following shows the progress rate for each year :— At Number Annual Rate of 31st December, ' Contribution payable. £ s. d. 191 I ... ... ... ... ... 550 3.171 15 8 1912 ... ... ... ... ... 2,660 11.726 13 0 1913 ... ... ... ... ... 5,791 22,719 0 4 The weekly income of the fund at the 31st December was £436 18s. Id., and the total fund as per Revenue Account at that date was ,£29.327 7s. 6d. There were paid during the year 119 claims for maternity benefits, amounting to £698 Bs. The total enrolments to hand up to the 31st March, 1914, numbered 7,538. During the year additional lecturers were engaged for the purpose of carrying out the propaganda policy inaugurated by the Board. The rapid increase in membership entails additional work on these officers, and the scope of their duties now extends beyond the initiatory enrolment work. The lecturers have ably met the new demands on their time, and the result of their efforts is shown in the general increase of business. The Board note with pleasure that many employers in the large centres are voluntarily collecting contributions, at the request of their employees. The Board regard this system of co-operation with the fund as a desirable basis upon which to establish the permanence of employees' membership in the fund. The following gives a comparison of the expense-rate each year;.— 1911 ... ... ... ... 56 per cent, of contribution income. 1912 ... ... ... ... 28 per cent. 1913 ... ... ... ... 19 per cent. ~ In this connection the Board desires to express its appreciation of the manner in which the members of the staff have coiied with the extra duties required of them on account of the rapid growth in membership. G. F. C. Campbell. Chairman of the Board. R. E. Hates, Wellington. 16th June, 1914. Superintendent of the Fund.

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NATIONAL PROVIDENT FUND. (1.) Revenue Account for the Year ended 31st December, 1913. £ s. d. £ b. d. Amount of fund at beginning of year .. 10,038 8 5 Maternity claims (section 18) .. .. 698 8 0 Contributions .. .. .. .. 15,998 8 1 Refund of contributions on lapse, reduoInterest .. .. .. .. 559 7 5 tion, and withdrawal (sections 10, 11, 12, Fines .. .. .. .. .. 399 9 3 and 13) .. .. .. .. 780 7 9 Benefits refunded by deduction .. .. 6 0 0 Death : Refund of contributions (section 15) 65 10 4 Government contribution under section 25 3,169 8 10 Refund of contributions overpaid .. 11 17 0 Refund of maternity claims by the State.. 698 8 0 Amount of fund at end of year .. .. 29,327 7 L 6 Contributions overpaid .. .. .. 12 6 11 Refunds unclaimed .. .. .. 111 10 Miscellaneous receipts .. .. .. 0 1 10 £30,883 10 7 £30,883 10 7 (2.) Balance-sheet ah at 31st December, 1913. £ s. d. I £ s. d. Fund as per Revenue Account .. .. 29,327 7 6 Invested with Public Trustee .. .. 21,138 18 3 Claims due and in course of payment —* | Contributions outstanding or in course of Maternity .. .. .. .. 112 11 6 I transmission— * Death .. .. .. .. 22 4 2 (a.) Contributions due but not overdue 4,218 11 6 Refunds .. .. .. .. 24 18 6 (6.) Contributions overdue .. .. 1,388 17 4 Refunds in suspense .. .. 677 14 9 Government subsidy accrued* .. .. 3,867 16 10 Other amounts in suspense .. .. 615 2 Balance with Post Office .. .. 246 14 3 Deposits on incomplete applications to join Balance at Head Office .. .. .. 017 2 fund .. .. .. .. 447 Fines due .. .. .. .. 348 19 3 Contributions prepaid .. .. .. 1,034 18 5 £31,210 14 7 £31,210 14 7 * included in Revenue Account. R. E. Hayes, Examined and found correct. Superintendent. Robert J. Collins, A. T. Traversi, A.I.A. (Lond.), Controller and Auditor-General. Secretary.

Numerical Statement for the Year ended 31st December, 1913.

Approximate Cost of Paper. —Preparation, not (riven ; printing (1,100 copies). £2. 1

By Authority : John Mackay, Government Printer, Wellington.—l9l4. Price 3d.]

NATIONAL PEOVIDENT FUND. (1.) Eevenue Account for the Year ended 31st December, 1913. £ s. d. £ e. d. Amount of fund at beginning of year .. 10,038 8 5 Maternity claims (section 18) .. .. 698 8 0 Contributions .. .. .. .. 15,998 8 1 Refund of contributions on lapse, reducnterest .. .. .. .. 559 7 5 tion, and withdrawal (sections 10, 11, 12, ?ines .. .. .. .. .. 399 9 3 and 13) .. .. .. .. 780 7 9 Benefits refunded by deduction .. .. 6 0 0 Death : Refund of contributions (section 15) 65 10 4 ■rovernment contribution under section 25 3,169 6 10 Refund of contributions overpaid .. 11 17 0 rtefund of maternity claims by the State.. 698 8 0 Amount of fund at end of year .. .. 29,327 7 L 6 Contributions overpaid .. .. .. 12 6 11 tefunds unclaimed .. .. .. 1 11 10 Miscellaneous receipts .. .. .. 0 1 10 £30,883 10 7 £30,883 10 7 (2.) Balance-sheet ah at 31st December, 1913. £ s. d. £ s. d. ?und as per Revenue Account .. .. 29,327 7 6 Invested with Public Trustee .. .. 21,138 18 3 Claims due and in course of payment— * Contributions outstanding or in course of Maternity .. .. .. .. 112 11 6J transmission— * Death .. .. .. .. 22 4 2 I (a.) Contributions due but not overdue 4,218 11 6 Refunds .. .. .. .. 24 18 6 (6.) Contributions overdue .. .. 1,388 17 4 Refunds in suspense .. .. .. 677 14 '.< Government subsidy accrued* .. .. 3,867 16 10 Dther amounts in suspense .. .. 6 15 2 Balance with Post Office .. .. 246 14 3 Deposits on incomplete applications so join Balance at Head Office .. .. .. 0 17 2 fund .. .. .. .. 447 Fines due .. .. .. .. 348 19 3 Contributions prepaid .. .. .. 1,034 18 r> £31,210 14 7 £31,210 14 7 * Included in Kovonue Account. K. E. Hayes, Examined and found correct. Superintendent. Robert J. Collins, A. T. Traversi, A.I.A. (Lond.), Controller and Auditor-General. Secretary. Numerical Statement for the Year ended 31st December, 1913. Numbers. • ,,, , Class 2. Class 3. Class 4. p , ■^Jβ.. , m<, Pension Rate, Pension Rate, Pension Rate, Aggregate. Annual Pension Rate, 10s. 30b 4Os Contributions. Class Pension ] 20s. late, Class 3. Pension Kate, SOB. M. I P. J T. M. I F. I T. M. F. T. M. | F. T. M. F. ' T. T. H. F. T. M. F. T. 33 6 89 M. F. I T. 2392 268 2660 £ s. d. 11,726 13 0 Number of contributors at 2084 '204 2288 232 commencement of year New entrants during the 3287 155 3442 288 year Transfers from another 68 .. 68 7 class Increases due to adjust ment on age-error, &c. 2084 3287 68 204 155 ■2288 3442 68 232 288 7 56 34 2 287 322 9 36 S 39 1 1 2 43 47 2 3 3 1 16 60 3 3658 195 3853 78 4 82 13,975 0 0 53 14 8 1 14 8 Total .. .. 5439 359 5798 527 Discontinuances, &c. (as 614 43 657 101 per detailed statement below) 5439 614 359 43 5798 657 527 101 91 10 618 111 70 10 80 15 2 17 92 19 7 99 19 6128 467 6595 749 55 804 25,757 2 4 3,038 2 0 * * I Total at end of year 4825 316 5141 426 81 I 507 55 j 8 i 63 73 7 80 5379 412 5791 22,719 0 4 Details of Disco) Death .. .. 9 1 10 .. Notice of withdrawal .. 328 31 359 28 Lapse .. .. .. 272 9 281 20 Transfers to another class 5 2 7 53 Decreases due to adjust .. ! ment on age-error, &c. mtini Mane ces, &c, dur ■ing i the Yea r. 49 12 4 1,563 9 4 1,112 3 0 309 3 8 3 13 8 6 2 2 34 22 55 5 27 2 .. 2 8 .. 8 ■7 i 9 1 10 368 39 407 294 11 ' 305 78 4 ' 82 12 ■■ 12 .. .. .. Total .. .. I 614 43 657 101 10 I 111 16 2 17 19 .. 19 I 749 56 804 3,038 2 0 Numerical I Total entered .. .. 5445 373 5818 530 Total transferred from 76 1 77 11 other classes 5521 374 5895 541 Total discontinued .. '■ 686 55 741 57 Total transferred to other 10 3 13 58 classes I 696 58 754 115 Total contributors on 4825 316 5141 426 books at 31st December, 1913 i 1 Progr? I 90 i ress 620 15 since Estabi 72 I 11 83 2 2 4 97 3 lent. 7 104 1 4 16144 92 1481 8 6625 100 635 74 13 87 100 _l_ 8 108 6236 489 6725 26,401 18 4 94 " 11! 2 i 68 60 11 3 14 8 2 10 11 8 14 10 11 16 .. Ill 1 17 1 I 28 765 92 69 8 834 100 18 128 19 5 24 24 27 19 857 77 934 3,682 18 0 81 ! 507 55 8 63 55 63 [ 7 80 5379 1412 5791 22,719 0 4 78 Approximate Cost of Paper. —Preparation, not idven ; printing (1,100 copies), £2. 1, not tuvei ; prii By Authority : John Mackay. Government Printer, Wellington.—1914. Price 3d.