NATIONAL PROVIDENT FUND. SIXTH ANNUAL REPORT OF THE BOARD FOR THE YEAR ENDED 31st DECEMBER, 1916.

Appendix to the Journals of the House of Representatives, 1917 Session I, H-17

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1917. NEW ZEALAND.

NATIONAL PROVIDENT FUND. SIXTH ANNUAL REPORT OF THE BOARD FOR THE YEAR ENDED 31st DECEMBER, 1916.

Prepared in Terms of Section 28 of the National Provident Fund Act, 1910.

At the 31st December, 1916, the contributors to the Fund numbered 9,847, representing an annual contribution income of £38,664 3s. Id. The total funds amounted to £1.22,361 Bs. 7d., compared with £83,000 9s. 3d. at the close of the previous year. There were paid maternity allowances amounting to £3,775 17s. Bd. to 634 contributors. The concession of one-half contributions granted by the Government to contributors on active service was claimed on account of 2,424 contributors, and cost £3,338 2s. lOd. for the year. An amendment of the National Provident Fund Act directly applicable to friendly societies was embodied in the Finance Act, 1916 (Part IX, Social Insurance). This measure authorized the payment of maternity grants to members of "approved" friendly societies, and also offered annuities similar to those under the main Ace at low rates of contribution. In pursuance of the powers given by section 66 of the Finance Act, the Board has "approved" or "provisionally approved " almost the whole of the affiliated friendly societies in the Dominion for the purposes of this system. The expenses for the year 1916 were 19*9 per cent, of the contribution income. Aethuk M. Myebs, Chairman of the Board. H. E. Hayes, Wellington, 4th September, 1917. Superintendent of the Fund.

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NATIONAL PBOVIDBNT FUND. (1.) Revenue Account fob the Yeab ended 31st Decembeb, 1916. £ s. d. £ s. d. Amount of fund at beginning of year .. 83,000 9 5 Maternity claims (section 18) .. .. 3,775 17 8 Contributions .. .. .. .. 31,542 12 8 Refund of contributions on lapse, reduoInterest .. .. .. .. 3,859 9 4 tion, and withdrawal (sections 10, 11, 12, Pines.. .. .. .. .. 261 7 9 and 13) .. .. .. .. 4,194 18 4 Benefits refunded by deduction .. .. 333 0 6 Death : Refund of contributions (section 15) 965 12 3 Government contribution under section 25 8,113 4 3 Amount of fund at end of year .. ..122,361 8 7 Refund of matornity claims by the State.. 3,775 17 8 Refunds unolaimed .. .. .. 411 15 3 £131,297 16 10 £131,297 16 10 . I ■ (2.) Balance-sheet as at 31st Decembeb, 1916. & s. d. I £ s. d. Fund as per Revenue Account .. ..122,361 8 7 ! Invested with Public Trustee .. ..110,250 5 1 Claims due and in course of payment— * I Balance with Post Office .. .. 1,523 11 10 Maternity .. .. .. .. 429 811 I Contributions outstanding or in course of Death .. .. .. .. 432 .6 2 transmission— * Refunds in suspense .. .. .. 3,628 0 9 (a.) Contributions due but not overdue 5,957 18 0 Deposits on incomplete applications to join (i.) Contributions overdue .. .. 1,181 11 0 fund .. .. .. .. 9 6 7 Government subsidy due under section 25* 8,113 4 3 Contributions propaid .. .. .. .1,853 13 6 j Refund due in respect of matornity claims* 641 11 0 Suspense acoount .. .. .. 8 13 3 | Fines due .. .. .. .. 147 14 0 One-half contributions of members of Expeditionary Forces due by the State* .. 907 2 7 £128,722 17 9 | £128,722 17 9 * Included in Bevenue Account. Examined and found correct. B. E. Hayes, Robebt J. Collins, Superintendent. Controller and Auditor-General.

Numerical Statement for the Year ended 31st December, 1916.

Approximate Cost of Paper. —Preparation, not given ; printing (700 copies), £1 15s. Od.

By Authority : Marcus F. Marks, Government Printer, Wellington.—l9l7. Price 3d.]

Numbers. Class 1. Pension Bate, 10s. L. te, 10s. Pen Ulass 2. sion Bate, 20s. Class 8. Pension Bate, 30s. Poll! llass 4. uon Bate, 40s. Aggregate. Annual Contributions. M. | F. T. T. M. F. T. M. I F. T, F. T. M. F. T. M. Number of contributors at 6634 460 7094 commencement of year New entrants during the 2349 209 2558 year Transfers from another 45 1 46 class 7094 »..* i ..... 82 ' 10 92 10 116 7503J598 8101 27411200 : 3001 £ s. d. 31,874 14 0 681 118 | 799 100 2558 310 43 I 353 18 5 28 64 3 67 11,315 17 0 46 46 ..46 4 2 6 9 9 104 3 107 220 7 0 Increases due to adjustment on age-error, &c. .. .. 11 5 4 Total .. .. 9028 670 9698 Discontinuances, &o. (as 1057 94 1151 per detailed statement below) 9698 1151 1037 144 161 1198 21 I 165 104 ' 17 121 22 .. 22 179 23 13 192 1 24 10348J861 '11209 1246116 j 1362 43,422 8 4 4,758 0 0 Total at end of year 7971 576 8547 893 1 10 1033 82 ! 17 99 156 I 12 |l68 9102 745 ! 9847 38,664 3 4 Details of L Death .. .. j 102 2 104 Notice of withdrawal 877 67 444 Lapse .. .. .. I 537 25 562 Transfers to another class 11 .. 41 Decreases due to adjust- .. < .. ment on age-error, &c. )isco\ mtinuam ces, £c, dur ing the Yea: 4 | .. 4 8 .. 8 7 ! .. 7 4 15 r. 18 35 41 50 .. 18 17 52 2 43 2 52 5 I .. 5 4 , .. 4 4 .. 4 9 .. 9 129 2 131 424 ' 84 508 589 ! 27 616 104 3 107 501 3 0 1,886 10 4 2,133 10 4 235 19 0 0 17 4 Total .. .. 1057 94 1151 144 21 165 22 .. 22 23 1 24 ;al I 105 since Estabi 1246 116 1862 | 4,758 0 Numeric Progress ress lishment. Total entered .. .. 11978 896 12874 Total transferred from 244 9 253 other classes 12222 905 13127 1346 110 192 1538 i 10 120 1538 120 1147 21 168 ) 15 5 20 233 14 247 24 2 26 247 26 13704! 393 11123 26 14827 419 1456 1202 1658 1658 S162 26 188 257 16 273 273 14097 1149 15246 Total discontinued .. 4146 321 4467 Total transferred to other 105 8 113 classes 4251329 4580 318 215 l 52 400 10 225 400 225 ) 46 4 50 i 34 5 39 62 1 63 39 3 42 63 42 4602 393] 378 ] 26 4980 419 503 1 62 625 625 > 80 9 89 101 4 105 105 4995 404 5399 Total contributors on 7971576 8547 books at 31st December, 1916 893l lil40 1033 1033 ! 82 17 99 156 12 168 168 9102 745 9847 38,664 8