NATIONAL PROVIDENT FUND. NINTH ANNUAL REPORT OF THE BOARD FOR THE YEAR ENDED 31st DECEMBER, 1919.

Appendix to the Journals of the House of Representatives, 1920 Session I, H-17

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.1920. NEW ZEALAND.

NATIONAL PROVIDENT FUND. NINTH ANNUAL REPORT OF THE BOARD FOR THE YEAR ENDED 31st DECEMBER, 1919.

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

Thk contributors to the fund at the 31st December, 1919, numbered 16,154, compared with 13,410 at the end of the previous year, the new entrants totalling the highest yet recorded. The total fund amounted to £338,729 Is. 2d., an increase of £91,828 os. Id. ; while the' year's income from all sources amounted to £105,498 Is. The gross annual contribution rate at the 31st December last was £91,449 19s. 4d. The following statement sets out the progress of the fund's business since its establishment in 1911 :

The payments on account of maternity allowances to contributors and to members of "approved " friendly societies in 1919 amounted to £16,166 lis., as compared with £17,809 2s. for the previous year, tho reduced amount being due ter the operation of the income qualification as the rates of wages have» increased. This qualification has, however, been raised to £300 per annum as from the beginning of the- present year, and at the same time the allowance to members of " approved " friendly societies has been increased to £6 for each birth. Applications from local authorities to become contributors on behalf of their staffs continue to be received by the Board in terms of the 1914 Amendment Act. The following local authorities are now contributing to the fund on behalf of their employees : Wellington City Council, Napier Harbour Board, Christchurch City Council, Christchurch Tramway Board, Dunedin City Council, Napier Borough Council, Invercargill Borough Council, Timaru Borough Council, Thames County Council, Lyttelton Harbour Board, New Plymouth Borough Council, Wanganui Borough Council, Masterton County Council, Upper Hutt Town Board, Bluff Harbour Board, Wallace County Council, Southland County Council. This list comprises the majority of the larger and principal staffs in the Dominion. The system of uniting the local authorities' superannuation business and the transfer rights of these employees in one fund can now be regarded as successfully established. The management expenses of the ordinary contributors' business for the year were at the rate of 23-5 per oent. of the contribution income. W. H. Herries, Chairman of the Board. B. E. Hayes, Wellington, 19th August, 1920. Superintendent of the Fund.

Year. Annual ContriMembcrsbip. brrtion Rate at 31st December. i . ■ [_ Total Accumulated . b'nnd. Year. | Annual Contri- Total AcMembershipJ bution Rate at cumulated 31st December Fund. I i 1911 1912 1913 1914 1915 £ 550 i 3,172 2,660 : 11.726 5.791 22.719 6,858 26.520 8,101 31.875 £ 1.826 10.038 29.327 53.718 83.000 1916 1917 1918 1919 £ £ 9,847 38,664 122,361 .. | 12,124 56.706 176,210 .. ' 13,410 69,486 246,901 16,154 91.450 338.729

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NATIONAL PBOVIUENT FUND. (1.) Eevbnue Account for the Year ended 31st December, 1919. £ s. d. £ s. d. Amount of fund at beginning of year .. 246,901 1 1 Maternity claims (section 18) .. .. 3,958 11 0 Contributions.. .. .. .. 73,872 0 7 Maternity claims (approved friendly Interest .. .. .. .. 11,876 2 4 societies) .. .. .. .. 12,208 0 0 Pines .. .. .. ~ 372 19 6 ' Refund of contributions on lapse, reducBenefits refunded by deduction .. .. 674 3 6 tion, and withdrawal (sections 10, 11, Government contribution under Act .. 19,374 2 4 12, and 13) .. .. .. .. 11,825 9 10 Refund of maternity claims by the State 16,166 11 0 Incapacity allowances (seofcions 16 and 17), Refunds unolaimad .. .. .. 1,899 14 1 : including contributions waived on inMiscellaneous receipts.. .. .. 216 3 capacity (£3l 13s. 3d.) .. .. 373 1 5 Contributions overpaid on exit .. .. I 11 4 Death: Refund of contributions (sections 14 (5) and 15) .. .. .. 1,009 15 1 Death: Allowances on account of widows and children (section 14) .. .. 2,297 10 11 Retirement: Allowances (seotions 12) .. 739 12 7 Amount of fund at end of year .. .. 338,729 1 2 £371,141 2 0 £371,141 2 0 Balance-sheet as at 31st December, 1919. £ b. d. £ s. d. Fund as per Revenue Aocount .. .. 338,729 1 2 Invested with Public Trustee .. .. 307,210 8 2 Claims due and in course of payment— * Balance with Post Office .. .. 2,977 5 5 Maternity .. .. .. .. 1,421 3 1 Balances in transit .. .. .. 4,392 14 4 Death (section 15) .. .. 329 14 10 Contributions outstanding or in course of Death: Allowances (section 14) .. 79 19 6 transmission —* Allowances (section 12) .. .. 17 14 11 (a.) Contributions due but not overdue 9,374 7 8 Allowances (section 16) .. .. 26 9 6 (6.) Contributions overdue .. .. 1,916 0 7 Refunds in suspense .. .. .. 8,564 811 Government subsidy due under Act* .. 19,374 2 4 Deposits on incomplete applications to Refund due in respect of maternity claims* 1,730 0 0 join fund .. .. .. .. 2 1111 Pines due .. .. .. .. 239 10 0 Suspense account .. .. .. 102 15 3 One-lralf contributions of members of ExContributions prepaid .. .. .. 2,982 5 6 peditionary Forces due by the State* .. 1,906 9 5 Interest accrued, but not due* .. .. 3,135 6 8 £352,256 4 7 £352,256 4 7 * Included in Revenue Account. Examined and found correct. B. B. Hayes, Eobert J. Collins, Superintendent. Controller and Auditor-General.

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(2.) Numerical Statement for the Year ended 31st December, 1919.

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" Numbers. Class 1. Pension Rate, 10s. Class 2. Pension Rate, 20s. Class S. Pension Rate, 30s. Class 4. Pension Rate, 40s. Class 5. Pension Rate : Other. Aggregate Annual Contributions. M. F. - M. r. I T. ML F. T. M. F. T. M. I F. X. M. F. T. T. I Number of contributors at commence- 9,397 1,420 10,817 1,147 ment of year New entrants during the year .. 3,046 600 3,646 408 Transfers from another class .. 124 20 144 60 Increases due' to adjustment on ageerror, &c. 1,147 408 60 292 93 11 ... I 292 93 11 1,439 501 71 1,439 501 71 112 52 6 29 5 141 57 6 223 51 15 27 10 1 250 61 16 740 541 j 23 | 28 763 569 11,619 1,791 4,098 j 736 205 ' 32 13,410 4,834 237 £ s. d. 69,486 5 0 31,304 19 4 2,143 2 0 215 13 8 .. •• .. .. Total .. .. .. 12,567 2,040 14,607 1,615 Discontinuances, &c. (as per detailed 1,301 364 1,665 293 statement below) 1,615 293 396 77 396 2,011 77 370 2,011 370 170 28 34 6 204 34 289 48 38 11 327 59 1,281 195 51 4 1,332 199 15,922 2,559 18,481 1,865 I 462 2,327 103,150 0 0 11,700 0 8 Total at end of year .. 1 1,266 1,676 I 12,942 | 1,322 1,322 319 j 319 j 1,641 I 142 28 170 | 1,641 241 27 268 1,086 47 j 1,133 |l4,057 2,097 j 16,154 91,449 19 4 Details 'etails of Discontinuances, &c, d\ s of D •/ring the Year. 10 118 57 10 4 10 122 57 10 103 6 708 329 839 95 10 205 32 109 1,037 934 10 237 741 11 8 5,480 1 8 3,615 18 4 Death .. .. .. .. 82 6 88 11 Notice of withdrawal .. .. 487 264 751 82 Lapse .. .. .. .. 678 88 766 93 Attainment to pension age Transfers to another class.. .. , 54 6 60 107 Decreases due to adjustment on ageerror, &e. L 11 82 93 107 53 7 17 11 53 135 5 2 7 7 100 6 .. 6 11 135 100 124 16 6 5 27 5 22 5 32 678 12 0 1,183 17 0 17 124 17 4 21 .. .. .... .. L Total .. .. .. 1,301 364 1,665 1 293 1,665 I 293 77 77 370 370 | 28 6 34 I 48 11 59 195 4 199 1,865 462 2,327 11,700 0 8 21,324 I 547 2,265 262 Numerici ■I Progress since Establishment. I 265 i 40 305 I 396 I 41 30 9 39 I 63 j 6 j 437 69 1,335 i 54 1,389 122,941 | 848 13,274 ; 26,215 105 j 953 Totalentered .. .. .. 18,680 2,644 21,324 I 2,265 Total transferred from other classes 493 54 547 262 495 36 495 2,760 36 298 2,760 298 ■• 19,173 2,698 21,871 2,527 21,871 2,527 531 531 3,058 3,058 295 49 344 459 +7 506 1,335 54 1,389 23,789 3,379 27,168 " Total discontinued .. ..7,652 995 8,647 774 Total transferred to other classes .. 255 27 282 431 8,647 282 774 431 157 55 157 55 931 486 931 486 85 08 9 12 94 124 94 9 11 133 105 249 7 256 8,884 256 8,884 848 1.177 105 10,061 953 .. .. 848 7,907 1,022 '■ 8,929 1,205 - : l_ Total contributors on books at 31st 11,266 1,676 12,942 1,322 December, 1919 i 1,205 212 212 319 1.417 1,641 1.417 153 21 174 218 20 238 249 7 1,086 47 250 9,732 1,133 14,057 250 9,732 1,282 ! 11,014 142 28 170 241 27 268 2,097 16,154 91,449 19 I I

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NATIONAL PROVIDENT FUND ACT, 1910. (3.) Statement of Retiring and Other Allowances for the Year ended 31st December, 1919.

NATIONAL PROVIDENT FUND AMENDMENT ACT, 1914. (3a.) Statement of Retiring and Other Allowances for the Year ended 31st December, 1919.

Approximate Cost of Paper. —Preparation, not given ; printing (700 copies/, £7 17s. 6d.

Authority : Mabcus F. Marks, Government Printer, Wellington.—l92o.

Price 3d.]

On Death. On Incapacity. Death. On Incapacity. On Attainment of Age 60. Total Retiring and Other Allowances. Number ! Annual Number Annual Number. Amount . Number. Arammt , M. F. £ s. d. M. F. i £ s. d. Allowances existing at beginning 22 .. 1,423 10 0 2 .. 130 10 0 of year Granted during year . . .. 0 .. 429 0 0 8 .. ;429 0 0 Number. £JJ* M. F. i £ s. d. 2 .. -130 10 0 8 .. 429 0 0 1 " Annual Amount. «'• Amount Number I Annual number. Amount . £ s. d. 1,423 10 0 M. I F. £ s. d. M. 24 F. £ s. d. 1,560 0 0 429 0 0 II 858 0 0 Total .. ..28 .. 1,852 10 0 10 .. 505 10 0 Discontinued during year (as per .. .. .. 7 .. 351 0 0 statement below) Existing at end of year ..28 .. 1,852 10 0 3 .. 214 10 0 1,852 10 0 10 .. 565 10 0 7 .. 351 0 0 38 7 2,418 0 0 351 0 0 1,852 10 0 3 . . 214 10 0 31 2,067 0 0 Particulars of Retiring and Other Allowances disconl inued during the 1 ear. Discontinued bv death j .. 2 , .. 97 10 0 Expiry .. .. .. 5 .. 253 10 0 Total .. .. 7 .. 1351 0 0 | . " l. ' .' '-' -:—J 2 5 .. 97 10 0253 10 0 7 .. 1 351 0 0 _J \_

On Death. On Medical Unfitness. On Attainment of Retiring-age. Total Retiring and Other Allowances. Number. Annual Amount. \-n,.ii,ev Annual Number. Ammmt .. , Annual N """"''•■ Amount. M. F. llowanoes existing at beginning 8 of 3'car ranted during year- . . .. 7 .. F. £ s. d. 40-1 0 0 M. F. £ S. (I. 1 .. 86 8 0 M. ' f. 1 £ s. d. 5 .. 374 17 0 M. F. £ s. d. 14 .. 805 5 0 250 0 0 2 . . 145 4 0 6 .. 564 9 0 15 .. 905 13 0 Total .. .. 15 .. liscontinued during year (as per statement below) 000 0 0 20 0 0 3 I .. 231 12 0 11 .. 939 (i 0 29 .. 1,830 18 0 .. .. 20 0 0 s „ r . ,„ « Existing at end of year .. 15 .. 634 0 0 3 .. 231 12 0 11 .. 939 0 0 29 ..1,804 18 0 Particulars of Retiring and Other . Allowances discontinued during the I 'ear. Discontinued by death Expiry . . .. .. .... 26 0 0 ... .. 26 0 0 .. j .. 26 0 0 .... 26 0 0 I 1 Progress of Retiring and Other Allowances since 1 the Establishment of the Fund to 31. ;t December, 1919. 1 j Total granted .. .. 43 .. 2,532 0 Total discontinued .. | 45 10 Total existing at 31st December, 43 .. 2,480 10 1919 I 14 ; .. [836 2 0 8 .. 390 0 0 11 .. 939 6 0 11 j .. '939 6 0 68 .. 8 .. 4,307 8 0 I 435 10 0 6 .. 440 2 0 60 I .. 3,871 18 0