NATIONAL PROVIDENT FUND. TWENTY-FIRST ANNUAL REPORT OF THE BOARD, FOR THE YEAR ENDED 31st DECEMBER, 1931.

Appendix to the Journals of the House of Representatives, 1932 Session I-II, H-17

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1932. NEW ZEALAND.

NATIONAL PROVIDENT FUND. TWENTY-FIRST ANNUAL REPORT OF THE BOARD, FOR THE YEAR ENDED 31st DECEMBER, 1931.

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

At tie 31st December, 1931, the contributors to the fund totalled 29,359. The total income for the year amounted to £470,013 14s. 7d., including £248,882 lis. paid by contributors and £170,493 15s. lid. interest. The fund at the end of the year totalled £3,263,005 ss. 10d., an increase of £326,801 18s. lid. The benefits paid out by the fund during the year amounted to £188,970 14s. 10d., including maternity benefits of £43,582. The rate of interest earned was £5 13s. Id., as compared with £5 13s. sd. 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 19-07, against 20-2 for the previous year. A. T. Ngata, Chairman of the Board. E. Witheford, Wellington, 14th July, 1932. Deputy Superintendent of the Fund.

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NATIONAL PROVIDENT FUND. (1) Revenue Account for the Yeab ended 31st December, 1931. £ s. d. £ s. d. Amount of fund at beginning of year .. 2,936,203 611 Maternity claims (section 19) .. .. 6,796 0 0 Contributions .. .. .. .. 248,882 11 0 Maternity claims (approved friendly societies) 36,786 0 0 Interest .. .. .. .. .. 170,493 15 11 Refund of contributions on lapse, reduction, Fines .. .. .. .. •• 680 7 4 and withdrawal (sections 11, 12, and 13) .. 84,138 10 3 Government contribution under Act .. 49,955 16 1 Refund of contributions in lieu of pension Refund of maternity claims by the State .. 43,582 0 0 (section 14) .. .. .. .. 844 0 5 Contributions overpaid on exit .. .. 78 1 10 Incapacity allowances (sections 17 and 18), Benefits refunded on exit .. .. .. 9,107 3 9 including contributions waived on incapacity Miscellaneous receipts .. .. .. 14 3 (£937 18s. Id.) .. .. .. .. 5,784 12 11 Refunds unclaimed .. .. .. 11,480 2 8 Death: Refund of contributions (sections 15 (5) and 16) .. .. .. .. 13,617 10 5 Death : Allowances on account of widows and children (section 15) .. .. .. 11,558 19 4 Retirement: Allowances (sections 13 and 48) .. 29,445 1 6 Refund of contributions overpaid on exit .. 78 1 10 Expenses — Salaries .. .. .. .. 6,875 2 5 Commission, allowances, and agency expenses 3,936 18 6 Postages .. .. .. . • 450 11 7 Printing and stationery .. .. .. 198 8 3 Rent .. .. .. .. . • 667 10 3 Government Actuary .. .. .. 601 13 5 Government Insurance Department: Services 45 8 4 Post and Telegraph Department: Charges .. 630 9 6 Public Trustee: Charges .. .. 4,238 15 11 Travelling allowances and expenses .. 179 7 4 General expenses .. .. 586 1 9 Amount of fund at end of year .. .. 3,263,005 5 10 £3,470,464 9 9 £3,470,464 9 9 Balance-sheet as at 31st December, 1931. Liabilities. £ s. d. Assets. £ s. d. Fund as per Revenue Account .. .. 3,263,005 5 10 In hands of Public Trustee — AM value of office furniture and fittings .. 21 12 3 Invested .. .. •• 3,169,062 8 6 Uninvested .. .. .. .. 7,588 13 3 3,263,026 18 1 Post Office .. .. .. .. 2,553 13 5 Claims due and in course of payment* — Balances in transit .. .. .. 14,909 3 4 Maternity .. .. .. •• 3,030 10 8 Contributions outstanding or in course of Death (section 16) .. .. .. 919 12 9 transmission*— Death (section 15) .. .. 523 18 2 {a) Contributions due but not overdue .. 14,825 17 4 Death: Allowances (section 15) .. .. 432 19 4 (b) Contributions overdue .. .. 4,699 8 6 Allowances (section 13) .. .. •• 1,329 0 1 Government subsidy due under Act* .. 49,955 16 1 Allowances (section 17) .. .. .. 277 9 3 Refund due in respect of maternity claims* .. 3,432 0 0 Expenses due and in course of payment*— Fines duo* .. • • . • .. 295 13 9 Sundry creditors .. .. .. 4,142 16 6 Interest due* .. .. .. .. 18,327 7 3 Commission, allowances, and agency expenses 671 12 4 Interest accrued but not due* .. .. 52,670 5 6 Refunds in suspense .. .. •• 47,651 15 3 Office furniture and fittings.. .. .. 2112 3 Deposits on incomplete applications to join fund 0 14 0 Suspense Account .. ■■ 112 6 6 Contributions prepaid .. ... .. 10,375 7 2 Investment Fluctuation Reserve (by transfer from refunds unclaimed) .. •• 5,846 19 1 £3,338,341 19 2 £3,338,341 19 2 * Included in Revenue Account. R. WITHEFORD, Deputy Superintendent. R. M. Porteous, Wellington, Ist July, 1932. 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. — Gr. F. 0. Campbell, Controller and Auditor-General.

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(2) Numerical Statement for the Year ended 31st December, 1931.

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Numbers. .Class 1. Class 2. Class 3. \ Class 4. Class 5. . Annual L ension Hate, 10s. | Pension Rate, 20s. Pension Rate, 30s. Pension Rate, 40s. Pension Rate: Other. Aggregate. Contributions. M - I F - T - M - B. : I. M. F. T. M. I P. T. M. | F. T. m7 i P. j Number of contributors at commence- 19,728 782 20,510 2,633 363 2,996 349 74 423 590 148 738 3 954 2 672 6 626 '7 254 4 039 31 293 9 *8 ment of year ' ' ' ' ' ' New entrants during the year .. 838 76 914 110 24 134 10 3 13 30 8 38 199 876 1 075 1 187 987 2 174 17 820 17 8 Transfers from another class .. 300 14 314 107 8 115 23 3 26 25 5 30 1 1 456 30 486 9 0Q8 5 O Increases due to adjustment on age- ...... ...... .... ' KA i c a error, &c. ' 501 6 4 Total .. .. .. 20,866 872 21,738 2,850 395 3,245 382 80 462 645 161 806 4,154 3 548 7 702 28 897 5 056 33 953 '83 135 11 8 Discontinuances, &c. (as per detailed 2,501 131 2,632 552 49 601 107 11 118 105 28 133 270 840 l'llO 3'535 l'o59 4'<594 29'610 fi 8 statement below) j i | ' ' ' °, Total at end of year ..18,365 741 19,106 2,298 346 1 2,644' 275 1 69 344 540 133 673 3,884 12,708 1 6,592 '25,362 3,997 29,359 253,525~~5~0 Details of Discontinuances, &c., during the Year. Deaths .. .. .. .. 58 I 2 60 5 5 .. .. .. 1 1 30 7 07 04. q 1 hq 9 non o a Notice of withdrawal .. .. 1,549 88 1,637 197 26 223 42 8 50 41 25 66 186; 790 976 2 015 937 2 952 20 284 Q I Lapse and cancellations .. .. 824 26 850 82 6 8S 3 .. 3 2 .. 2 3 ! 28 31 914 60 w! 9«!« ? a Attainment to pension-age • ... 8 j 5 13 2 3 5 1 1 45 15 60 56 2 3 70 ,?;?,! ! Transfers to another class .. 62 10 72 266 14 280 61 3 64 61 3 64 6 6 456 30 486 9 In 2 Decreases due to adjustment on age- .. .. .. .... .. .... .. .... • iYi error, &c. 1 •••••••*••..11400 Total •• '• 2 ' 501 !' 131 2 ' 632 552 49 601 1 ĪŌT~ 118 105 28 133 270 840 1,110 3,535 1,059 4,594 29.610 6 ~8 Numerical Progress since Establishment. Total entered .. .. .. 50,390 4,018 54,408 8,697 1,088 9,785 933 133 1,066 1,154 218 1,372 7.117 7 016 14 133 68 291 12 473 80 764 Total transferred from other classes 3,583 177 3,760 1,884 144 2,028 347 38 385 496 31 527 46 1 ' 47 6,'356 391 6 747 53,973 4,195 58,168 10,581 1,232 11,813 1,280 171 1,451 1,650 249 1,899 7,163 7,017 14,180 74,647 12,864 87,511 Total discontinued .. .. 133,700 3,323 37,023 4,896 695 5,591 513 66 579 556 83 3,264 4 309 7 573 42 929 8 476 51 405 Total transferred to other classes .. j 1,908 131 2,039 3,387 191 3,578 492 36 528 554 33 587 15 15 391 6 747 35,608 3,454 39,062 8,283 886 9,169 1,005 102 1,107 1,110 116 j 1,226 3,279 4,309 7,588 49,285 8,867 58,152' 77 • on ? ?ôoks ; 31st | 18 ' 365 I 741 19 > 106 2 > 298 346 2 > 644 275 69 344 540 j 133" 673" 6,692 25,362 3,997 29,359 253,525 5 ~ō

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NATIONAL PROVIDENT FUND ACT, 1926. Direct Contributors. (3) Statement of Retiring and other Allowances for the Year ended 31st December, 1931.

Other Contributors. (3a) Statement of Retiring and other Allowances for the Year ended 31st December, 1931.

NATIONAL PROVIDENT FUND. Progress of Retiring and other Allowances since the Establishment of the Fund to 31st December, 1931.

Approximate Cost of Paper. —Preparation, not given ; printing (600 copies), £6 10s.

By Authority : W. A. G. Skihnek. Government Printer, Wellington.—l 932.

Price 3%.~\

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T .. On Attainment of Total Retiring and other On Death. On Incapacity. Age 0 O< Allowances. Number. Nufflber. Amount. Number " a". Number ' | a". M. f. £ s. d. M. f. £ s. d. M. f. £ s. d. m. f. £ a. d. Allowances existing at be- 160 .. 9,067 10 0 33 .. 1,423 10 0 37 13 2,376 17 0230 13 12,867 17 0 Grinted year 19 .. 1,092 0 0 38 ■■ 1,716 0 0 II 8 676 0 0 68 8 3,484 0 0 Total .179 .. 10,159 10 0 71 .. 3,139 10 0 48 21 3,052 17 0298 21 16,351 17 0 Discontinued during the 15 .. 1,053 0 0 24 .. 1,345 10 0 1 .. 52 0 0 40 .. 2,450 10 0 year (as per statement below) Existing at end of year.. |l64 .. 9,106 10 0 47 .. 1,794 0 0 47 21 3,000 17 0|258~ 21 13,901 7 0 Particulars of Retiring and other Allowances discontinued during the Year. Discontinued by death .. I • ■ 1 I " 97 10 0| 1 [ .. I 52 0 0 2 .. 149 10 0 Expiry .. .. I 15 .. 1,053 0 0 23 | .. 1,248 0 0 .. j .. ■■ 38 .. 2,301 0 0 Total .. | 15 .. 1,053 0 0 24 j .. 1,345 10 0 1 j .. j 52 0 0 40 .. 2,450 10 0

_ _ .. , TT ' On Attainment of Total Retiring and other On Death. On Medical Unfitness. Retiring Age. Allowances. Number. jfmoZnt. Number. . /moult. Number. A A ™u2fc. Number. | /mSSnt. J M f. £ s. d. m. f. £ s. d. M. f. £ s. d. m. f. £ s. d. Allowances existing at be- 90 .. 2,18.8 0 0 29 4 2,456 19 0 235 22 25,004 16 0 354 26 29,649 15 0 ginning of year _ „ _ . Granted during year .. 20 .. 634 0 0 13 3 1,074 2 0 32 14 5,054 3 0 65 17 6,762 5 0 Total .. 110 .. 2,822 0 0 42 7 3,531 1 0267 36 '30,058 19 0419 43 136,412 0 0 Discontinued during year 7 j .. 194 0 0 8 1 654 11 0 15 .. 1,372 14 0 30 1 i 2,221 5 0 (as per statement below) Existing at end of year.. 103 .. 2,628 0 6 2,876 10 0252 36 '28,686 5 42 134,190 15 0 Particulars of Retiring and other Allowances discontinued during the Year. Discontinued by death .. 4 .. 72 0 0 5§j.. 424 10 0 15 | .. |1,372 14 0 24 .. 11,869 4 0 Expiry .. .. 3 .. 122 0 0 3 j 1 230 1 0 .. | .. ! .. 6 1 352 1 0 Total .. 7 194 0 0 8 1 I 654 11 0 15 j .. j.1,372 14 0 30 1 2,22] 5 0 | I

_ .. _ On Attainment of Total Retiring and other On Death. On Incapacity, Retiring Age. Allowances. Number. Number. Number. Number. M. F. £ s. d. M. i F. £ S. d. M. F. £ S. d. M. F. £ s. d. Total granted ..353 .. 18,597 10 0 317 13 19.159 9 0 389 61 39,663 7 01059 74 77,420 6 0 Total discontinued .. 86 .. 6,863 0 0 236 7 14,48819 0 90 4 7,976 5 0 412 11 29,328 4 0 Total existing at 31st De- 267 If. 11,73410 0 81 6 4,670 10 0 299 57 31,687 2 0 647 63 48,092 2 0 cember, 1931