NATIONAL PROVIDENT FUND. SEVENTH ANNUAL REPORT OF THE BOARD FOR THE YEAR ENDED 31st DECEMBER, 1917.

Appendix to the Journals of the House of Representatives, 1918 Session I-II, H-17

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Session 11, 1918. NEW ZEALAND.

NATIONAL PROVIDENT FUND. SEVENTH ANNUAL REPORT OF THE BOARD FOR THE YEAR ENDED 31st DECEMBER, 1917.

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

The total contributors to the fund at the 31st December, 1917, numbered 12,124, as compared with '9,847 at the close of the previous year. The total fund amounted to £176,210, an increase of £53,849. The gross annual contribution-rate at the 31st December last was £56,706 12s. 4d. During the past year some of the main objects of the fund were realized on the termination of the first five-yearly waiting-period. Valuable benefits were claimed by widows and children, while in certain instances allowances were due to incapacitated contributors. The system of benefits authorized for approved friendly societies by the Finance Act, 1916, was first in operation during the year under review. While the number of annuities taken up under these tables has not been large, the maternity side of the system has been fully appreciated by the societies. A total amount of £14,786 9s. was paid out through the fund during the year for maternity grants, the amount to contributors being £4,054 95., and to members*of approved friendly societies £10,732. Further steps were taken in connection with the enrolment of local authorities as " contributors " ■on behalf of their employees in terms' of the 1914 Amendment Act, and this branch of the fund's operations is now well established. An examination of the year's work shows further improved results in the conservation of business. The expenses for the year were at the rate of 19-5 per cent, of the contribution income. Arthur M. Myers, Chairman of the Board. R. E. Hayes, Wellington, 22nd August, 1918. Superintendent of the Fund.

NATIONAL PROVIDENT FUND. (1.) Revenue Account for the Year ended 31st December, 1917. & s. d. £ «. d. Amount of fund at beginning of year .. 122,361 8 7 Maternity claims (section 18) .. .. 4,054 9 0 Contributions.. .. .. .. 41,817 1 0 Maternity claims (approved friendly Interest .. .. .. .. 5,900 13 1 sooieties) .. .. .. .. 10,732 0 0 Pines .. .. .. .. 292 9 6 Refund of contributions on lapse, reducBenefits refunded by deduotion.. .. 369 13 10 tion, and withdrawal .. .. 3,588 4 9 Government contribution under Act .. 10,164 13 6 Death: Refund of contributions .. 1,649 8 1 Refund of maternity claims by the State 14,786 9 0 Allowances .. .. .. .. 70 14 10 Refunds unolaimed .. .. .. 720 18 8 Pensions .. .. .. .. 109 3 8 Miscellaneous receipts.. .. .. 0 10 0 Amount of fund at end of year .. .. 176,209 16 10 £196,413 17 2 £196,413 17 2 Balance-sheet as at 31st December, 1917. £ s. d. £ s. d. Fund as per Revenue Account .. .. 176,209 16 10 Invested with Public Trustee .. .. 160,723 11 9 •Claims due and in oourse of payment— * Balance with Post Office .. .. 490 16 3 Maternity .. .. .. .. 2,342 11 2 Balances in transit .. .. .. 527 3 9 Death ... .. .. .. 954 6 2 Contributions outstanding or in course of Allowances.. .. .. .. 9 15 0 transmission— * Pensions .. .. .. .. 28 11 6 (a.) Contributions in oourse of transRefunds in suspense .. .. .. 3,049 710 mission .. .. .. 1,393 12 0 Deposits on incomplete applications to (6.) Contributions due but not overdue 6,563 13 1 join fund .. .. .. .. 618 4 (c.) Contributions overdue .. .. 1,658 4 3 Suspense account .. .. .. 33 7 2 Government subsidy due under Act* .. 10,164 13 6 •Contributions prepaid .. .. .. 2,617 511 Refund due in respect of maternity claims* 2,420 10 0 Fines due .. .. .. .. 207 5 6 One-half contributions of members of Expeditionary Forces due by the State* .. 1,102 910 £185,251 19 11 £185,251 19 11 * Included in Revenue Account. Examined and found correct. R. E. Hayes, Robert J. Collins, Superintendent. Controller and Auditor-General.

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(2.) Numerical Statement for the Year ended 31st December, 1917.

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Numbers. Class 1. Pension Rat< Class 2. Pension Rate, 20s. Class 3. Pension Rate, 30s. Class 4. P, nsion Rate, 40s. Class 5. Pension Rate : Other. Annual Contributions. Aggregate. ., 10s. M. P. T. K. F. T. M. I P. I T. M. F. T. M. F. T. M. F. T. Number of contributors at commence- 7 971 576 ment of -year New entrants during the year .. 2,098 , 577 Transfers from another class .. 60 10 Increases due to adjustment on age- ! error, &c. 8,547 893 140 1,033 82 ._ 17 99 156 12! 168 9,102 745 9,847 £ s. d. 38,664 3 4 i 2,675 70 270 42 | 84 4 354 46 32 5 4 2 36 7 76 10 4 I 2 80 12 3i0 .. 24 344 2,796 117 693 18 3,489 135 22,378 13 8 260 15 4 6 10 0 •• I Total .. .. ..10,129 |l,163 Discontinuances, &c. (as per detailed 1,010 101 statement below) 11,292 1,111 1,205 < 228 151 19 1,433 170 119 19 23 5 142 24 242 34 18 1 260 35 320 7 24 344 7 12,015 1,221 1,456 126 13,471 1,347 61,310 2 4,603 10 ITotal at end of year .. 9,119 1,062 I 10,181 1,054 209 I 1,263 | 100 18 | 118 j 208~ 17 225 313 24 I 337 |10,794 1,330 I 12,124 | 56,706 12 136 467 460 i e tail Is of Dit xontim ances. tic, during the Year. 3 10 .. 2 5 9 1 4 3 | .. 3 12 12 10 10 3 12 1 4 4 86 18 18 172 524 514 j 2 I 135 698 8 1,845 4 1,705 7 15 17 337 7 1 6 Death .. .. .. ..133 3 Notice of withdrawal .. .. 390 77 Lapse .. .. .. .. 442 18 Attainment to pension age Transfers to another class.. .. 45 3 Decreases due to adjustment on ageerror, &c. 21 32 47 51 1 6 12 22 38 47 63 3 3 4 9 1 4 2 •■ 2 168 438 496 2 117 j 48 ■• •• •■ Total .. .. .. ' 1,010 | 101 1,111 151 19 170 j 19 5 I 24 I 34 I 1 35 7 7 1,221 126 1,347 4,603 10 15,549 323 1,616 152 Numerica, Prog'. 179 20 ■ess si? ;e Establishment. 327 38 320 344 116,500 510 I 18,316 554 Total entered .. .. .. 14,076 [1,473 Total transferred from other classes 304 19 1 A OOA l <no 276 1,892 14 166 25 7 204 309 i 18 27 34 I 4 24 1,816 44 14,380 1,492 15,872 1,768 290 2,058 199 S3 231 343 22 365 320 24 344 17,010 14,380 1,492 Total discontinued .. .. 5,111 419 Total transferred to other classes .. 150 11 fi 9fii dan 5,111 150 419 11 5,530 161 448 266 59 j 22 507 288 56 4:s 6 8 62 51 84 51 2 3 86 54 7 7 5,706 510 1,860 486 44 18,870 6,192 554 I 0,261 430 Total contributors on books at 31st 9,119 1,062 December, 1917 5,261 i 430 5,691 714 81 795 99 14 113 135 , 5 118 208 17 140 7 7 6,216 530 6,746 18 337 10,794 1,330 9,119 1,062 10,181 1,054 209 1,263 100 225 313 24 12,124 56,706 12 I

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NATIONAL PROVIDENT FUND ACT, 1910. (3.) Statement of Retiring and Other Allowances for the Year ended 31st December, 1917.

NATIONAL PROVIDENT FUND AMENDMENT ACT, 1914. (3a.) Statement of Retiring and Other Allowances for the Year ended 31st December, 1917.

Approximate Cost of Paper.— Preparation, not given; printing (950 copies), £4 15s.

Authority : Marcus F. Marks, Government Printer, Wellington.—l9lB.

Price 3d.]

On Death. On Incapacity. Attainment of Age 80. Total Retiring and Other Allowances. Number Annual Numoer. Amount. N III K „„ Annual lber - Amount. Nui lh .. Annual LDer - | Amount. v „„ u . Annual r, umber. AmouIlt , M. F. £ s. d. M. F. £ s. d. M. F. £ s. d. M. F. £ s. d. Allowances existing at beginning of year Granted during year 2 156 0 0 2 156 0 0 Total Discontinued during year (as per statement below) 2 156 0 0 2 156 0 0 Existing at end of year 2 156 0 0 156 0 0

On Death. On Medical Unfitness. On Attainment of Retiriug-age. To I OH :al Retiring and her Allowances. Num ber Annual. " er - . Amount. »»*«■ *■»»- at.™u„. Annual Number. Ammmt . Nui . „ Annual lber - Amount. .llowaneos existing at beginning of year rranted during year M. F. £ s. d. M. F. £ s. d. M. F. £ s. d. 2 .. 142 14 0 M. F. £ s. d. 2 142 14 0 Total •isoontinued during year (as per statement below) 2 '. .. |l42 14 0 2 142 14 0 2 .. !l42 14 0 I | Ixlsting at end of year ■• • • 142 14 0 'rogress of Retiring and Oth w A, '.lowi ;nces sinci the Establishment of the Fund to 31st Decerns ier, 1917. I'otal granted Dotal discontinued 2 .. J156 0 0 I .. .. .. 2 .. 142 14 0 4 .. " '1 1! " I " .. .. .. 2 .. 142 14 0 4 .. 298 14 0 rotal existing at 31st December, 1917 .. Il56 0 0 4 .. 298 14 0