NATIONAL PROVIDENT FUND. TENTH ANNUAL REPORT OF THE BOARD, FOR THE YEAR ENDED 31st DECEMBER, 1920.

Appendix to the Journals of the House of Representatives, 1921 Session I-II, H-17

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Session [I. 1921. NEW ZEALAND.

NATIONAL PROVIDENT FUND. TENTH ANNUAL REPORT OF THE BOARD, FOR THE YEAR ENDED 31st DECEMBER, 1920.

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

At 31st December, 1920, there were 19,724 persons contributing to the fund, as compared with 16,154 at the close of the previous year. The total of the fund was £473,360 Us. Bd., an increase of (2134,631 10s. 6d., while the income from all sources amounted to £15K.478 10s. 9d. The annual contribution rate at 31st December last was £129,003 4s. Allowances for maternity were paid out amounting to £31,972, the sum of £25,318 being claimed for members of " approved " friendly societies, and £6,654 going to contributors to the fund. The amount of £6,553 18s. 10d. was granted in allowances on retirement and incapacity, and to widows and children. The expenses of administration in respect of the ordinary contributors' business were at the rate of 29-9 per cent, of their contribution income. Wμ. Downib Stewakt, Chairman of the Board. E. B. Hates, Wellington, 18th August, 1921. Superintendent of the Fund.

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NATIONAL PEOVIDENT tfUND. (1.) Revenue Account for the Year ended 31st December, 1920. & s. d. I £ B. d. Amount of fund at beginning of year .. 338,729 1 2 Maternity claims (section 18) .. .. 6,654 0 0 Contributions.. .. .. .. 110,594 9 0 Maternity claims (approved friendly Interest .. .. .. .. 18,821 16 7 societies) .. .. .. .. 25,318 0 0 Fines .. .. .. .. 585 1 4 Refund of contributions on lapse, reducBenefits refunded by deduction.. .. 43 13 7 tion, and withdrawal (sections 10, 11, Government contribution under Act .. 28,472 310 12, and 13) .. .. .. .. 16,944 12 9 Refund of maternity claims by the State 31,972 0 0 Incapacity allowances (sections 16 and 17), Contributions overpaid on exit .. .. 1 911 including contributions waived on incapacity (£B9 Is. 5d.) ~ .. 663 15 10 Death : Refund of contributions (sections 14 (5) and 15) .. .. .. 386 5 S Death : Allowances on account of widows and children (section 14) .. .. 3,118 0 3 Retirement: Allowances (sections 12) .. 2,772 2 9 Refund of contributions overpaid on exit 2 6 11 J Amount of fund at end of year .. .. 473,360 11 8 £529,219 15 5 £529,219 16 S Balance-sheet as at 31st December, 1920. £ a. d. £ s. d. Fund as per Revenue Account .. .. 473,360 11 8 Invested with Public Trustee .. .. 432,565 15 1 Claims due and in oourse of payment— * Balance with Post Office .. .. 4,187 11 2 Maternity .. .. .. .. 3,028 17 5 Balances in transit .. .. .. 6,031 14 1 Death (section 15) .. .. .. 103 1 4 Contributions outstanding or in course of Death : Allowances (section 14) .. 87 9 7 transmission—• Allowances (section 12) .. .. 61 10 6 (a.) Contributions due but not overdue 9,965 4 6 Allowances (section 16) .. .. 38 911 (b.) Contributions overdue .. .. 2,616 9 3 Refunds in suspense .. .. .. 13,421 9 8 Government subsidy due under Act* .. 28,472 310 Deposits on incomplete applications to Refund due in respect of maternity claims' 3,914 0 0 join fund .. .. .. .. 11l Fines due .. .. .. .. 327 1 2 Suspense account .. .. .. 788 16 6 Interest accrued, but not duo* .. .. 6,534 8 9 One-half contributions of members of Expeditionary Forces overpaid by State .. 52 4 1 Contributions prepaid .. .. .. 3,670 16 1 £494,614 7 10 £494,614 7 10 t; Included in Revenue Account. Examined and found correct. K. E. Hayes, E. J. Collins, Superintendent. Controller and Auditor-General.

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(2.) Numerical Statement for the Year ended 31st December, 1920.

Numbers. Class 1. Pension Kate, 10s. Class 2. Pension Rate, 20s. Class 3. Pension Rate, 30s. Class 4. Pension Rate, 40s. Class 5. Pension Rate : Other. Aggregate. Annual Contributions. M. F. T. M. F. T. M. F. T. M. F. T. M. F. T. M. I F. I. Number of contributors at commence- 11,266 1,676 12,942 ment of year New entrants during the year .. 3,549 323 3,872 Transfers from another class .. 172 27 199 Increases due to adjustment on ageerror, &c. 1,322 319 1,026 96 147 j 9 1,641 1,122 156 I 142 80 24 28 8 2 170 88 26 241 99 29 27 6 3 268 105 32 1,086 712 47 27 1,133 739 £ s. d. 14,057 2,097 16,154 91,449 19 4 5,406 460 5,926 | 40,692 11 0 372 41 413 ! 10,005 10 8 135 8 0 •• I Total .. .. .. 14,987 2,026 17,013 Discontinuances, &c. (as per detailed 1,502 436 1,938 statement below) 2,495 339 424 2,919 87 42(5 240 49 38 4 284 53 369 78 36 6 405 84 1,798 I 257 74 j 11 1,872 268 19.895 2,598 2,225 544 22,493 142,283 9 2,769 j 13,280 5 Total at end of year .. 13,485 1,590 I 15,075 2,156 337 | 2,493 | 197 | 34 j 231 291 30 . 321 1,541 63 1,604 |l7,670 ;2,054 J 19,724 129,003 4 Death .. .. .. .. 37 i 5 42 Notice of withdrawal .. .. 677 i 330 1,007 Lapse .. .. .. .. j 644 j 92 736 Attainment to pension-age Transfers to another class.. .. 144 j 9 153 Decreases due to adjustment on ageerror, &c. Details of Discontinuances, &c, c wing the Year. 9 206 42 ii •• 9 217 42 4 101 80 4 .. I 1 [ 1 53 154 9 1 10 5 85 12 | 1 j 13 29 183 28 II 29 23 3 9 1 26 10 50 6 56 580 4 1,016 398 1,414 8,254 15 745 99 844 , 2,803 13 42 .. 42 147 4 372 ! 41 413 1,211 5 283 2 154 46 2 48 ! .. II .. '' - ' : Total .. .. .. 1,502 436 1,938 436 1,938 I 339 87 426 | 49 4 i 53 I 78 6 S4 257 I 11 268 2,225 544 2,769 | 13,280 5 Total entered .. .. ..122,229 2,967 25,196 Total transferred from other classes 665 81 , 746 12,967 i 25,196 81 746 | 3,291 409 Numerical Progress since Establishment. 2,128 128,407 1,220 32,141 1,366 591 I 3,882 I 345 I 48 393 I 495 | 47 45 454 54 11 65 92 9 542 101 2,047 81 3,734 146 i J22,894 3,048 25,942 3,048 25,942 3,700 ! 636 4,336 399 59 | 458 587 56 643 2,047 81 2,128 29,627 3,880 33,507 I Total discontinued .. ..I 9,010 1,422 10,432 Total transferred to other classes .. 399 36 435 1,422 ' 36 10,432 435 959 585 215 ! 84 1,174 669 106 96 12 rlL 118 109 156 140 13 13 169 153 506 18 524 10,737 1,220 1,680 146 12,417 1,366 9,409 1,458 : 10,867 1,458 : 10,867 | 1,544 25 299 1,843 202 227 296 26 322 506 IS 524 11,957 1,826 13,783 _ ' — Total contributors on books at 31st 13,485 1,590 , 15,075 December, 1920 1,590 15,075 2,156 337 2,493 197 34 231 291 30 321 1,541 63 1,604 17,670 j2,054 19,724 Il29,003 4

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NATIONAL PROVIDENT FUND ACT, 1910. (3.) Statement of Retiring and Other Allowances for the Year ended 31st December, 1920.

NATIONAL PROVIDENT FUND AMENDMENT ACT, 1914. (3a.) Statement of Retiring and Other Allowances for the Year ended 31st December, 1920.

Approximate Cost, of Paper; Preparation not given ; printing (600 copies), £10.

Authority- Marcus !>'. Macks, Government Printer, Wellington. 1921.

Price 3d.

Xlllul On Death. .ber , An " 1 Amc On Inc Number. mpaolty. Annual Amount. On Attainment of Age 60. number Annual l\ umber. AmmmtTotal Retiring ami Other Allowances. »r. Amount Tot Otl Numl iber. Annual Amount. M. Ulowances existing at beginning 28 of year Granted during year .. .. 1.2 M. 28 F. £ .. 1,852 799 F. £ s. d, 1,852 10 0. M. I F. :; & S. d. 214 10 0 M. I F. £ S. (I. m. if. £ s. d. 31 .. 2,067 0 0 M. 31 12 799 10 0, |390 0 0 17 .. 1,18!) 10 0 17 Total .. ..40 discontinued during year (as per 2 statement below) 40 2 .. 2,652 58 2,652 0 0 58 10 0 8 5 604 10 o 370 10 0 48 .. 3,25(i 10 0 7 .. 429 0 0 .8 7 Existing at end of year .. 38 38 .. 2,593 2,593 10 01 3 1.. 1234 0 0 I I..!.. .. 41 .. 2,827 10 0 Particulars of Retiri', ing ing and C 2nd Other Allowances discont inued during I he ear. Discontinued by death .. I .. j ilxpiry .. .. .. | 2 .. | 58 1 Ii .. 58 10 o 4 .. 312 0 0 1 .. 58 1(1 (I (i .. 370 10 0 Total 2 58 10 0 5 .. 370 10 0 .. .. 7 .. 429 0 0 7 .. .

onTW.i, On M-flirri nnfltn... On Attainment oJ Total Retiring and On Death. On Medici »»»*•*■ imouni, - Nl " : """- M. F. £ S. (I. M. F. 16 .. 634 0 0 3 .. al Unfitness. On Attainment ot itotirhig-agc. lal Retiring and her Allowances. On Death. On Medical Unfitness. Eettdng-age. Other AllowSnoes. Tot Ot] xt I,... Annual ,. , Annual .- , ., Annual ,- ..... Annual Annual Amnunt. ««**«■ | _£S_S. t, DP Annual "■ Amount. Number .annual v..,., i,,,,. Annual ,■..„,,,„ Annual v„ m i,,.,. Annual Nuinne.. Amount . Number. Arnount . dumber. Amount . Number. AmoUnt Num AUU1UIII'. AUHHIIIH. I AlllUllllL. illllllllllli. M. F. £ S. d. M. F. £ S. (I. M. F. £ S. <l. M. F. £ S. (I. Allowances existing at beginning 15 .. 634 0 0 3 .. 231 12 0 II .. 939 6 0 29 ..1.80 118 0 of yea r Granted during year .. .. 9 .. 214 0 0 4 .. 248 5 0 39 .. 2,980 7 0 52 ...3,448 12 0 M. 3 £ s. el. 231 12 0 M. F. £ S. II .. 939 (i £ s. d. 939 (i 0 M. 29 F. £ s. d. 1,804 18 o 9 .. 214 0 0 4 .. 4 248 5 0 39 .. 2,980 7 2,980 7 0 52 3,448 12 0 Total .. .. 24 .. '848 0 0 7 .. 479 17 0 50 .. 3,925 13 0 81 ..5.253 10 0 Discontinued during year (as per I .. [114 0 0 I ,. 86 8 0 I ; .. 85 L6 0 3 .. 286 4 0 statement bolow) 24 .. '848 0 0 7 .. I .. 114 0 0 I ,. 47!) 17 0 86 8 0 50 .. 1 j .. 3,925 13 0 85 16 0 81 3 5,253 10 0 286 4 o Existing at end of year .. 23 .. 734 0 0> 6 .. 393 9 0 4!) .. 3,839 17 0 78 ..4,967 fi 0 23 .. 734 0 0 « 6 393 !) 0 Particulars of Retiring and Other Allowances discontinued during the Year. Retiring and Other Allowanc wane oes discont' Discontinued by death .. 1 .. 18 0 0 1.. .. .. 1 .. 85 16 0 I 2 .. 103 16 0 Expiry .. .. 96 0 0 1 .. j 86 8 0 .... I .. 1 | ... 1.82 8 0 1 ' , J. ! I ' I I I __ I .. 114 0 0 | I 86 8 0 I 85 16 0 j 3 I .. 286 1 0 I .. 18 0 0 1.. .. .. .. 96 0 0 I I | .. 86 8 0 Progress of Retiring and Other Allowances since the Establishment of the Fund to 31st December, 1920 Total granted .. .. I 64 .. 3,545 10 0 23 I .. 1,474 7 0 50 .. 3,925 13 0 137 ' ..8,945 10 0 Total discontinued .. .. 3 .. 218 0 0 14 .. 846 18 0 I .. 85 16 0 18 ..1,150 14 0 . i _ I Total existing at 31st December, 61 .. 3,327 10 0 9 .. 827 9 0 49 .. 3,839 17 0 119 ..7.794 10 0 1920