NATIONAL PROVIDENT FUND. TWENTIETH ANNUAL REPORT OF THE BOARD, FOR THE YEAR ENDED 31st DECEMBER, 1930.

Appendix to the Journals of the House of Representatives, 1931 Session I-II, H-17

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1931. NEW ZEALAND

NATIONAL PROVIDENT FUND. TWENTIETH ANNUAL REPORT OF THE BOARD, FOR THE YEAR ENDED 31st DECEMBER, 1930.

Prepared in Terms of Section 72 of the National Provident Fund Act, 1926.

At the 31st December, 1930, the contributors to the fund totalled 31,293. The total income for the year amounted to £459,151 os. 3d., including £254,380 3s. 6d. paid by contributors and £152,631 13s. interest. The fund at the end of the year totalled £2,936,203 6s. lid., an increase of £337,221 19s. 7d. The benefits paid out by the fund during the year amounted to £169,143 16s. Bd., including maternity benefits of £42,984. The rate of interest earned was £5 13s. 5d., as compared with £5 14s. 2d. for the previous year.. The expenses of administration in respect of ordinary contributors to the fund continue to show a satisfactory decrease, the percentage being 20-2, against 21-02 for the previous year. Jas. B. Donald, Chairman of the Board. R. With.efoed, Wellington, 29th May, 193]. Deputy Superintendent of the Fund..

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NATIONAL PROVIDENT FUND. (1) Revenue Account for the Year ended 31st December, 1930.

£ s. d. £ s. d. Amount of fund at beginning of year .. 2,598,981 7 4 Maternity claims (section 19) .. .. 6,828 0 0 Contributions .. .. .. .. 254,380 3 8 Maternity claims (approved friendly societies) 36,156 0 0 Interest .. .. •• •• 152,631 13 0 Refund of contributions on lapse, reduction, Fines .. .. .. •• 796 10 1 and withdrawal (sections 11, 12, and 13) .. 68,487 11 7 Government contribution under Act .. .. 51,342 11 6 Refund of contributions in lieu of pension Refund of maternity claims by the State .. 42,984 0 0 (section 14) .. .. .. .. 1,793 18 4 Contributions overpaid on exit .. .. 36 18 11 Incapacity allowances (sections 17 and 18), Benefits refunded on exit .. .. .. 8,046 11 1 including contributions waived on incapacity Miscellaneous receipts .. .. .. 0 22 (£6Bl 9s. 6d.) .. .. .. .. 4,110 8 5 Death: Refund of contributions (sections 15 (5) and 16) .. .. .. 14,990 15 5 Death : Allowances on account of widows and children (section 15) .. .. .. 10,783 5 2 Retirement: Allowances (section 13).. .. 25,993 17 9 Refund of contributions overpaid on exit .. 36 18 11 Public Trustee's charges .. .. .. 3,815 15 1 Amount of fund at end of year .. .. 2,936,203 6 11 £3,109,199 17 7 £3,109,199 17 7

Balance-sheet as at 31st December, 1930.

Liabilities. £ s. d. Assets. £ s. d. Fund as per Revenue Account .. ..2,936,203 611 In hands of Public Trustee — Balance due Post Office .. .. .. 1,941 7 2 invested .. .. .. .. 2,852,068 2 7 Claims due and in course of payment*— Uninvested .. .. .. .. 20,274 6 0 Maternity .. .. .. .. 1,996 16 4 Balances in transit.. .. .. .. 10,676 1 9 Death (section 16) .. .. .. 1,281 15 3 Contributions outstanding or in course of Death : Allowances (section 15) .. 426 7 1 transmission* — Allowances (section 13) .. .. .. 883 4 9 (a) Contributions due but not overdue .. 13,321 5 9 Allowances (section 17) .. .. .. 171 11 6 (6) Contributions overdue .. .. 3,209 2 4 Public Trustee's charges* .. .. .. 1,357 0 2 Government subsidy due under Act*.. .. 51,342 11 6 Refunds in suspense .. .. .. 39,977 5 0 Refund due in respect of maternity claims* .. 3,744 0 0 Deposits on incomplete applications to join fund 016 11 Fines due* .. .. .. .. 401 2 9 Suspense Account .. .. .. .. 266 0 4 Interest due* .. .. .. .. 7,386 11 10 Contributions prepaid .. .. .. 9,299 12 6 Interest accrued but not due* .. .. 46,893 13 5 Investment Fluctuation Reserve (by transfer from refunds unclaimed) .. .. .. 15,511 14 0 £3,009,316 17 11 £3,009,316 17 II * Included in Revenue Account.

R. WITHEFORD, Deputy Superintendent. R. M. PORTEOUS, Wellington, 28th May, 1931. Accountant. 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.— €r. F. C. Campbell, Controller and Auditor-General.

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(2) Numerical Statement for the Year ended 31st December, 1930.

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Numbers. Plo go 1 n|a qo 2 nigoq Q OljlW 4. Plnqg K AflIlUāl Pension -Rate, 10s. Pension Rate, 20s. Pension Rate, 30s. Pension Rate, 40s. Pension Rate: Other. Aggregate. Contributions. M. F. | T. JM. P. T. M. F. | T. M. | F. I T. M. j F. T. M. F. T. i ; n " Ī j i i £ s. d. Number of contributors at commence- ;19,88i 702 20,583 2,649 324 2,973 307 | 60 367 523 150 673 3,795 2,518 6,313 27,155 3,754 30,909 256,196 1 0 ment of year New entrants during the year .. 2,034 190 2,224 333 64 397 65 20 85 92 15 | 107 393 880 1,273 2,917 1,169 4,086 26,637 1 8 Transfers from another class .. 191 7 198 135 15 150 39 2 41 61 I 62 23 23 449 25 474 6,826 2 8 Increases due to adjustment on age- j .. .. .. .. .. .. .. .. .. .. | .. .. • • | • * • • * * • • error, &e. Total .. .. .. 22,106 899 23,005 3,117 403 3,520 411 82 493 676 166 842 4,211 '3,398 7,609 30,521 4,948 35,469 289,825 1 4 Discontinuances, &c. (as per detailed 2,378 117 2,495 484 40 524 62 8 70 86 18 104 257 726 1 983 3,267 909 4,176 27,109 18 8 statement below) Total at end of year .. 19,728 782 20,510 2,633' 363 2,996 349 74 423 590 ' 148 1 738 3,954 '2,672 6,626 |27,254 4,039 31,293 262,715 2 8 Details of Discontinuances, <&c., during the Year. Deaths.. .. .. .. 43 3 46 5 1 5 1 1 1 1 2 18 9 27 68 13 81 2,302 4 8 Notice of withdrawal .. .. 1,355! 87 1,442 219' 26 245 24 3 27 49 14 63 186 702 888 ],833 832 2,665 19,107 10 4 Lapse and cancellations .. 788 | 12 800 68 5 73 7 7 1 1 2 3 7 10 867 25 892 2,758 7 8 Attainment to pension-age .. 4,3 7 2 i 3 5 .. .. 1 1 43 8 51 50 14 64 1,488 7 4 Transfers to another class .. 188; 12 200 190 6 196 30 5 35 34 2 36 7 7 449 25 474 1,410 7 4 Decreases due to adjustment on age- .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. . . .. .. 43 1 4 error, &c. Total .. .. .. 2,378 117 2,495 484; 40 524 j 62 8 7o| 86 | 18 104 257 726 983 j 3,267 909 4,176 27,109 18 8 Numerical Progress since Establishment. Total entered .. .. .. 49,552 3,942 53,494 8,587 1,064 1 9,651 923 130 1,053 1,124! 210! 1,334 6,918 !6,140 13,058 67,104 11,486 78,590 Total transferred from other classes 3,283 163 3,446 1,777 136 1,913 324 35 359 471 26 497 45 1 46 5,900 361 6,261 52,835 4,105 56,940 10,364 1,200 11,564 1,247 165 1,412 1,595 236 1,831 6,963 6,141 13,104 73,004 11,847 84,851 Total discontinued .. .. 31,261 3,202 34,463 4,610 660 5,270 467 58 525 512 58 570 3,000 3,469 6,469 39,850 7,447 47,297 Total transferred to other classes .. 1,846 121 1,967 3,121 177 3,298 431 33 464 493 30 523 9 9 5,900 361 6,261 33,107 3,323 36,430 7,731 837 8,568 898 91 989 1,005 88 1,093 3,009 3,469 6,478 45,750 7,808 53,558 Total contributors on books at 31st 19,728 782 20,510 2,633 363 2,996 349 74 423 590 148 738 3,954 2,672 6,626 27,254 4,039 31,293 262,715 2 8 December, 1930

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NATIONAL PROVIDENT FUND ACT, 1926. Direct Contributors. (3) Statement of Retiring and other Allowances for the Year ended 31st December, 1930.

Other Contributors. (3a) Statement of Retiring and other Allowances for the Year ended 31st December, 1930.

NATIONAL PROVIDENT FUND. Progress of Retiring and other Allowances since the Establishment of the Fund to 31st December, 1930.

Approximate Cost of Paper.—Preparation, not given ; printing (625 copies), £6.

By Authority: W. A. G. Skinner, Government Printer, Wellington.—l93l.

Price 3d.]

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„ t. -J •, On Attainment of Total Retiring and other On Death. On Incapacity. Ago 60. Allowances. Number. Number. | Number, j »r. | M. F. £ s. d. M. F. £ s. d. M. F. £ s. d. M. F. £ s. d. Allowances existing at be- 146 I .. 8,424 0 0 27 .. 1,209 0 0 31 8 1,882 17 0 204 8 11,515 17 0 ginning of year Granted during the year 22 | .. 1,462 10 0 26 .. 1,209 0 0 7 5 520 0 0 55 5 3,191 10 0 Total .. 168 I .. 9,886 10 0 53 .. 2,418 0 0 38 13 2,402 17 0259 13 14,707 7 0 Discontinued during the 8 j .. 819 0 0 20 .. 994 10 0 1 .. 26 0 0 29 .. 1,839 10 0 year (as per statement below) Existing at end of year.. j 160 ' .. 9,067 10 0 33 .. 1,423 10 0 37 i 13 12,376 17 0230 13 12,867 17 0 Particulars of Retiring and other Allowances discontinued during the Year. Discontinued by death .. .. I .. .. 1 ; .. 58 10 0 1 ( .. 26 0 0 2 .. 84 10 0 Expiry .. .. 8 | .. 819 0 0 1.9 j .. 936 0 0 .. i .. .. 27 .. 1,755 0 0 Total .. 8 .. 819 0 1 20 .. 994 10 0 1 | .. 26 0 0 29 .. 1,839 10 0

On Death. On Medical Unfitness "SS* Number. Number.) —. Number. ™. »«-">«. | A ™, M. F. £ s. d. M. F. £ s. d. M. F. £ s. d. M. F. £ s. d. Allowances existing at be- 88 .. 2,134 0 0 24 3 1,991 2 0219 18 23,002 15 0331 21 27,127 17 0 ginning of year Granted during year .. 11 .. 313 0 0 9 3 822 3 0 31 6 3,666 2 0 51 9 4,801 5 0 Total .. 99 .. 2,447 0 0 33 6 2,813 5 0250 24 26,668 17 0382 30 ! 31,929 2 0 Discontinued during year j 9 j .. 259 0 0 4 2 356 6 0 15 2 1,664 1 0 28 4 2,279 7 0 (as per statement below) j Existing at end of year.. 90 ' .. 2,188 0 0 29 4 2,456 19 0235 22 -25,00416 0354 26 129,649 15 0 Particulars of Retiring and other Allowances discontinued during the Year. Discontinued by death ?. 3 ] .. 54 0 0 3 I 1 | 299 9 0 15 ] 2 1,664 1 0 21 I 3.1 2,017 10 0 Expiry .. .. 6 j .. 205 0 0 1 j 1 56 17 0 . . : .. .. 7 1 I 261 17 0 Total ! 9 .. 259 0 0 4 j 2 | 356 6 0 15 j 2 1,664 1 0 28 4 2,279 7 0

I On Death. j 0. Incapacity XXif Number - Amount. | Number. Number. Number. M. F. £ s. d. M. j F. £ s. d. M. : F. £ s. d. M. F. £ s. d. Total granted .. ..314 .. 16,871 10 0 266 1 10 16.369 7 0 346 39 33,933 4 0 926 49 67,174 1 0 Total discontinued .. 64 .. 5,616 0 0 204 6 12,48818 0 74 j 4 6,551 11 0 342 10 24,656 9 0 Total existing at 31st De- 250 j .. 11,25510 0 62 4 3,880 9 0 272 35 27,381 13 0 584 39 42,517 12 0 comber. 1930