NATIONAL PROVIDENT FUND. TWELFTH ANNUAL REPORT OF THE BOARD, FOR THE YEAR ENDED 31st DECEMBER, 1922.

Appendix to the Journals of the House of Representatives, 1923 Session I-II, H-17

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Session 11. 1923. NEW ZEALAND.

NATIONAL PROVIDENT FUND. TWELFTH ANNUAL REPORT OF THE BOARD, FOR THE YEAR ENDED 31st DECEMBER, 1922.

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

At the 31st December, 1922, the contributors to the fund numbered 22,118. The total of the fund was £793,143 17s. 10d., an increase of £160,618 17s. 4d. over the previous year, while the income from all sources amounted to £202,358 19s. 5d., of which £131,542 7s. sd. represents payments by contributors. The rate of interest earned, £5 6s. per cent., shows a substantial increase. Maternity allowances amounted to £38,876 —£31,604 for " approved " friendly-society members and £7,272 for contributors to the fund. The amount of £12,001 Bs. sd. was paid in allowances on retirement and incapacity, and to widows and children. The expenses of administration as measured against the ordinary contributors' business were at the rate of 24-8 per cent, of their contributions, showing a substantial reduction as compared with 298 per cent, for the previous year. E. Heaton Rhodes, Chairman of the Board. A. T. Teaveksi, Wellington, 19th July, 1923. Superintendent of the Fund.

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NATIONAL PROVIDENT FUND. (1.) Revenue Account for the Year ended 31st December, 1922. £ s. d. £ s. d. Amount of fund at beginning of year .. 632,525 0 6 Maternity claims (section 18) .. .. 7,272 0 0 Oontri buttons .. .. .. 131,542 7 5 Maternity claims (approved friendly Interest .. .. .. .. 36,807 9 8 societies).. .. .. .. 31,604 0 II Fines .. .. .. .. 772 11 11 Refund of contributions on lapse, reduc(Jovernmont contribution undor Act .. 33,236 10 5 tion, and withdrawal (sections 10, 11, Refund of maternity claims by the State 38,876 0 0 12, and 13) .. .. .. 27,875 11 1 Contributions overpaid on oxit .. 19 18 10 Incapacity allowances (sections 16 and Benefits refunded on exit (excluding 17), including contributions waived on maternity) .. .. .. 98 19 5 incapacity (£205 Bs. 7d.) .. .. 1,595 6 5 Death : Refund of contributions (sections 14 (5) and 15) .. .. 1,935 9 0 Death : Allowances on account of widows and children (section 14) .. .. 4,826 7 3 Retirement: Allowances (section 12) .. 5,570 14 !) Refund of contributions overpaid on exit 19 18 10 Refund of contributions unclaimed or impounded .. .. .. 26 13 0 Amount of fund at end of year .. 793,143 17 1(1 £873,878 18 2 £873,878 18 2 Balance-sheet as at 31st December, 1922. Liabilities. £ s. d. Asset". £ s. d. Fund as per Revenue Account .. 793,143 17 10 In hands of Public Trustee— ■Claims due and in eourao of payment— Invested .. .. .. 747,175 0 0 Maternity .. .'. .. 5,164 6 5 Uninvested .. .. .. 8,910 17 5 Death (section 15) .. .. 500 2 2 Balance with Post Office .. .. 4,902 19 3 Death: Allowances (section 14) .. 194 2 0 Balances in transit .. .. .. 6,557 19 10 Allowances (section 12) .. .. 2.18 17 10 Contributions outstanding or in course of Allowances (section 16) .. .. 83 7 5 transmission* — Refunds in suspense.. .. .. 28,870 610 («.) Contributions due but not overDeposits on incomplete applications to due .. .. .. 11,410 4 9 join fund .. .. .. 0 9 8 (b.) Contributions overdue .. 3,594 9 10 Suspense Account .. .. .. 3,697 3 7 Government subsidy due under Aot* .. 33,236 10 8 One-half contributions of members of Ex- Refund due in respect of maternity peditionary Forcos overpaid by State.. 46 10 5 claims* .. .. .. .. 5,652 0 0 Contributions prepaid ..' .. 4,385 3 7 Fines due* .. .. .. 449 6 2 Interest duo* .. .. .. 3,377 16 6 Interest iiccruod, but not due* .. 11,037 3 7 £836,304 7 9 £836,304 7 9 * Included in Revenue Account. A. T. Traversi, 2nd July, 1923. Superintendent. I hereby certify that the balance-sheet and Revenue Account have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby. G. F. C. Campbell, 12th July, 1923. Controller and Auditor-General.

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(2.) Numerical Statement for the Year ended 31st December, 1922.

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Numbers. Annual Contributions. Class 1. Pension Rate, 10s. M. F. T. Class 2. Pension Rate, 20s. Class 3. Pension Kate, 30s. Class i. Pension Kate, 40s. Class 5. Pension Rate: Other. Aggregate. E. I M. F. T. U. F. I. M. T. M. F. T. H. F. T, Number of contributors at commencement of year New entrants during the year Transfers from another class Increases due to adjustment on ageerror, &c. 14,675 1,340 16,015 2,857 j 342 3,199 298 36 334 I 42 363 I 1,726 76 1,802 19,877 f s. d. 1,836 21,713 142,268 19 8 321 2,372 80 2,452 340 ! 12 352 1656 149 53 709 68 7 156 25 5 73 4 29 70 32 3 73 1 33 241 25 j 266 13,407 546 166 3,573 17,820 18 4 24 570 1,934 19 4 2 3 4 I Total .. Discontinuances, &c. (as per detailed statement below) 17,387 1,432 18,819 2,192 329 2,521 3,662 760 402 4,064 391 92 852 90 .. .. 45 436 10 100 423 83 .. .. 46 469 9 92 1,967 101 2,068 161 12 173 1,806 89 1,895 - 23,830 3,286 2,026 25,856 162,027 0 8 452 3,738 17,056 1 8 ' ■ Total at end of year 15,195 1,103 16,298 | I 2,902 J j 310 j 3,212 J 301 35 336 I 340 37 377 I |20,544 j 1,574 I 22,118 144,970 19 0 Deaths Notice of withdrawal Lapse Attainment to pension-age Transfers to another class Decreases due to adjustment on ageerror, &c. 50 4 54 1,051 231 1,282 961 j 87 1,048 130 \ "l 137 19 260 172 Details of Discontim nances, &c, du iring ih he Year. 66 1,498 1,155 21 546 4 j 70 785 12 0 318 ! 1,816 9,305 0 4 106 i 1,261 4,364 4 4 21 342 4 8 24 570 2,125 2 4 133 18 0 9 1 61 321 27 17 189 11 1 8 35 1 12 26 10 46 "a '32 2 48 6 6 134 12 146 1 1 20 20 319 14 333 51 1 52 • • • • .. .. Total 2,192 329 2,521 | 760 92 852 90 10 100 I 9 ! 92 I 161 12 173| I 3,286 452 3,738 17,056 1 8 83 Total entered Total transferred from other classes.. 127,414 3,187 I 30,601 1,269 105 , 1,374 28,683 3,292 31,975 12,772 2,128 ! 14,900 716 61 J 777 15,008 732 Numerical Progt ress since Estal Mshme :nt. I 2,653 I 135 2,788 I 136,258 2,273 4,155 40,413 205 2,478 Total discontinued Total transferred to other classes .. 15,740 1,687 1,151 711 5,719 541 68 800 110 779 6,519 651 357 ! 2,044 173 112 1,263 177 469 3,307 350 310 3,212 301 61 602 I 19 129 I 80 ! 7371 29 J 202 f 16 j 193 642 I 162 804 235 229 61 703 I 13 175 I 74 878] 21 256 16 245 I 2,653 135 2,788 847 46 893~j 38,531 15,714 2,273 4,360 42,891 2,581 18,295 205 2,478 .... .. Total contributors on books at 31st December, 1922 13,488 2,189 15,677 15,1»6 1,103 16,298 [2,838 2,902 45 395 464 I 37 501 I 847 46 893 17,987 2,786 20,773 35 336 340 37 377 1,806 89 1,895 20,544 1,574 22,118 144,970 19 0

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NATIONAL PROVIDENT FUND ACT, 1910. (3.) Statement of Retiring and other Allowances for the Year ended 31st December, 1922.

NATIONAL PROVIDENT FUND AMENDMENT ACT, 1914. (3a.) Statement of Retiring and other Allowances for the Year ended 31st December, 1922.

NATIONAL PROVIDENT FUND. Progress of Retiring and other Allowances since the Establishment of the Fund to 31st December, 1922.

Approximate Cost of Paper. —Preparation, not given; printing (575 copies), £6 10a.

Authority : W. A. G. Skinner, Government Printer, Wellington.—l 923

Price 3d A

On Death. Annual N Amount. JNUn On In j mber. icapacity. i On Att; ainmcnt of ge60. Total Eel All firing and other lowances. Numl iber. Annual Amount. Nui imber. Annual N Amount. " WD Nui , b Annual 1Der - Amount. iber. Allowances existing at beginning of year Granted during the year M. IS F £ s. d. m. 3,'237 0 0 7 F. £ s. d. 370 10 0 M. 1 F. £ s. d. -M. 2(1 0 0 50 M. 50 F. £ b. d. .. 3,033 10 0 F. 12 858 0 0 17 682 10 0 1 104 0 0 30 30 .. 1,644 10 0 Total Discontinued during the year (as per statement below) 80 4,095 0 0 78 0 0 24 U 1,053 0 0 741 0 0 2 ~~ I ■ • 130 0 0 80 1 A 86 14 .. 5,278 0 0 819 0 0 14 Existing at end of year 130 0 Op72 .. 4,459 0 0 I 00 .. 4,017 0 0 10 .. 312 0 0 2 Particulw, rs oj " Retiring and other Allowances disconti Inued ! during the Ye< ar. Discontinued by death .. Expiry .. I .. 3 i .. 175 10 0 .. 78 0 0 11 .. 565 10 0 .. 78 0 0 14 .. 74] 0 0 .. 3 II 14 175 10 0 643 10 0 819 0 0 Total

On Death. On Medical Unfitness. On Attainment of lletiring Age. Total Keti All, iring and other owances. iber. Annual Amount. Number. £™1 iber. Annual Amount. Annual Amount. Nili Niu Km Lber. illpwanoes existing at be- 36 ginning of year (ranted during year .. 6 M. 36 F. £ s. d. 1,184 0 0 M. 11 F. £ s. d. 759 9 0 M. 81 F. £ s. d. 4,904 17 0 M. 10S F. £ s. d. 0,848 6 0 6 150 0 0 (i 480 10 0 II 1,157 17 0 26 1,788 7 0 Total .. 42 )iscontinued during year (as per statement belo w) 1,334 0 0 83 0 0 17 8 1,23!) 19 160 8 75 .. 6,062 14 0 134 .. 8,636 13 0 2' .. 104 0 0 5 .. 347 8 0 75 2' 6,062 14 0 104 0 0 134 5 i [ Ixisting at end of year 42 i 1,251 0 0 14 1,079 11 0 73 .. 5,938 14 0U29 .. 8,289 5 0 Particulars of 'Ret: iring and o >ther All >wances dist continued during llie, Year. •iscontinued ty death .. I .. I Ixpiry i 83 0 0 3 160 8 0 2 .. 104 0 0 5 .. 264 S 0 .... 83 0 0 2 .. 104 0 0 5 .. 347 8 0 Total 83 0 0 160 8

On Death. On Incapacity. On Attainment of ltetiring Age. Total Ketl Allc iring and other owances. Number. Annual Amount. Number. Annual Amount. *»*»• A A rrt. Number. Annual Amount. 'otal granted 'otal discontinued M. F. £ 8. d. 105 .. 6,099 0 0 3 .. 431 0 0 102 .. 5,268 0 0 IX, (it) 36 r. £ s. d. 3,490 17 0 2,099' 8 0 M. F. £ S. d. 81 .. 6,406 17 0 6 .. 318 3 0 M. T. 246 .. 45 .. £ s. d. 15,590 14 0 2,848 9 0 'otal existing at 31st December, 1922 24 1,391 11 7-5 .. 6,088 14 0 201 12,748 5 0