NATIONAL PROVIDENT FUND. TWENTY-SECOND ANNUAL REPORT OF THE BOARD, FOR THE YEAR ENDED 31st DECEMBER, 1932.

Appendix to the Journals of the House of Representatives, 1933 Session I, H-17

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1933. NEW ZEALAND.

NATIONAL PROVIDENT FUND. TWENTY-SECOND ANNUAL REPORT OF THE BOARD, FOR THE YEAR ENDED 31st DECEMBER, 1932.

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

At the 31st December, 1932, the contributors to the fund totalled 26,140. The total income for the year amounted to £438,978 13s. Bd., including £219,252 Bs. 9d. paid by contributors and £173,816 10s. interest. The fund at the end of the year totalled £3,501,549 18s. 5d., an increase of £238,544 12s. 7d. The benefits paid out by the fund during the year amounted to £233,045 3s. 6d., including maternity benefits of £41,014. The rate of interest earned was £5 ss. 6d., as compared with £5 13s. Id. 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 18-15, against 19-07 for the previous year. A. T. Ngata, Chairman of the Board. R. Withefobd, Wellington, 27th July, 1933. Deputy Superintendent of the Fund.

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NATIONAL PROVIDENT FUND. (1) Revenue Account for the Year ended 31st December, 1932. £ s. d. I £ s. d. Amount of fund at beginning of year .. 3,263,005 5 10 Maternity claims (section 19) .. .. 6,198 0 0 Contributions .. .. .. .. 219,252 8 9 Maternity claims (approved friendly societies) 34,816 0 0 Interest .. .. .. .. .. 173,816 10 0 ; Refund of contributions on lapse, reduction, Fines .. .. .. .. .. 894 110 and withdrawal (sections 11. 12, and 13) .. 114,21 8 8 Government contribution under Act .. 45,013 0 3 Refund of contributions in lieu of pension Refund of maternity claims by the State .. 35,518 0 0 (section 14) .. .. .. .. 4,735 9 (i Contributions overpaid on exit .. .. 179 5 9 Incapacity allowances (sections 17 and 18), Benefits refunded on exit .. .. .. 13,492 1 10 including contributions waived on incapacity Miscellaneous receipts .. .. .. 2 12 10 (£1,061 17s. 2d.) .. .. ~ 6,757 3 8 Refunds unclaimed .. .. .. 2,349 2 8 ; Death: Refund of contributions (sections 15 (5) and 16) .. .. .. .. 19,298 3 0 Death : Allowances on account of widows and children (section 15) .. .. .. 11,820 1 1 Retirement: Allowances (sections 13 and 48).. 35,202 17 3 Refund of contributions overpaid on exit .. 179 5 9 Expenses— Salaries .. .. .. .. 8,084 17 5 Commission, allowances, and agency expenses 4,116 19 8 Postages .. .. .. .. 361 10 2 Printing and stationery .. .. .. 308 16 11 Rent .. .. .. .. .. 686 13 7 Government Actuary .. .. .. 587 16 3 Post and Telegraph Department: Charges .. 621 6 6 Public Trustee: Charges .. .. 3,299 15 2 Travelling allowances and expenses .. 292 18 4 General expenses .. .. .. 387 8 1 Amount of fund at end of year .. .. 3,501,549 18 5 £3,753,522 9 9 £3,753,522 9 9 Balance-sheet as at 31st December, 1932. Liabilities. £ s. d. Assets. Fund as per Revenue Account .. .. 3,501,549 18 5 In hands of Public Trustee — £ s. d. Add value of office furniture and fittings .. 34 17 6 Invested .. .. .. .. 3,427,127 18 1 Uninvested .. .. .. .. 4.723 14 8 3,601,584 15 11 Balances in transit .. .. .. 8,792 5 8 Post Office .. .. .. .. L'..'i4") 11 1(1 Contributions outstanding or in course of Claims due and in course of payment*— transmission* — Maternity .. .. .. .. 3,008 6 6 (a) Contributions due but not overdue .. 12,867 19 11 Death (section 16) .. .. .. 853 110 ' (6) Contributions overdue .. .. 4,571 6 7 Death (section 15) .. .. .. 362 15 10 Government subsidy due under Act* .. 45,013 0 3 Death: Allowances (section 15) .. .. 422 12 0 Refund due in respect of maternity claims* .. 2,618 0 0 Allowances (sections 13 and 48) .. .. 1,365 18 9 Fines due* .. .. .. .. 287 17 1 Allowances (section 17) .. .. .. 219 8 2 ! Interest due* .. .. .. .. 29,946 0 2 Expenses due and in course of payment*— [nteresl accrued but not due* .. .. 53,589 7 1 Sundry creditors .. .. .. 3,963 15 2 I Office furniture and fittings .. .. 34 17 6 Commission, allowances, and agency expenses 565 11 0 '■ Refunds in suspense .. .. .. 56,633 11 11 Suspense Account .. .. .. 71 7 4 Contributions prepaid .. .. .. 12,887 11 5 Investment Fluctuation Reserve (by transfer from refundß unclaimed) .. .. 5,287 19 4 £3,589,572 7 0 £3,589,572 7 0 * Included in Revenue Account. R. WITHEFORD, Deputy Superintendent. R. M. Porteous, Wellington, Ist July, 1933. 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. — J. H. Fowler, Deputy Controller and Auditor-General.

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(2) Numerical Statement for the Year ended 31st December, 1932.

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Numbers. Cla»e 1. Class 2. Class S. Class 4. Class 5. Am»r.«».»« rwrihutfnnii Pension Bate, 10s. Pension Rate, 20s. Pension Rate, 30b. Pension Rate, 40s. Pension Rate: Other. Aggregate. ununounoni. M. F. T. M. F. T. M. F. T. M. F. T. M. F. T. M. F. T. Number of contributors at commence- 18,365 741 19,106 2,298 ! 346 2,644 275 69 344 540 133 673 3,884 2,708 6,592 25,362 3,997 29,359 253,525 5 0 ment of year New entrants during the year .. 501 i 38 539 36 22 57 12 4 16 20 7 27 258 526 784 826 597 1,423 12,377 8 0 Transfers from another class .. 267 j 10 277 86 12 98 15 1 16 25 5 30 t> 6 399 28 427 3,733 9 0 Increases due to adjustment on age- .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 122 13 4 error, &c. Total .. .. .. 19,133 I 789 19.922 2,419 380 2,799 302 74 376 585 145 730 4,148 3,234 7,382 26,587 4,622 31,209 269,758 15 4 Discontinuances, &c. (as per detailed 3,059 14.'{ 3,202 522 46 568 76 15 91 118 16 134 332 742 1,074 4,107 962 5,069 36,008 10 8 statement below) Total at end of year .. 16,074 646 16,720 ' 1,897 ' 334 2,231 ' 226~ ! 59 285 I 467 129 596 I 3,816 2,492 6,308 122,480 3,660 ' 26,140 '233,750 4 8 Details of Discontinuancet &c, during the Year. Deaths.. .. .. .. 41 2 43 1 .. 1 .. 1 1 3 .. 3 22 2 24 67 5 72 2,754 17 4 Notice of withdrawal .. .. 1,649 87 1,636 203 28 231 24 3 i!7 *2 11 53 235 707 942 2,053 836 2,889 19,836 7 0 Lapse and cancellations .. .. 1,394 45 1,439 91 7 98 8 .. S 1(1 II) 3 15 18 1,506 67 1,573 4,774 (t 8 Attainment to pension-age .. 8 3 11 3 S 8 .... .. 3 3 68 18 86 82 26 108 3,168 19 0 Transfers to another class .. 67 I 6 73 224 6 230 44 1 1 56 60 5 65 4 .. 4 399 28 427 .'),429 4 4 Decreases due to adjustment on age- .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 45 2 4 error, &c. Total .. .. .. ! 3,059 143 3,202 | 522 46 568 | 76 15 9TI 118 ! 16 134 | 332 742 | 1,074 | 4,107 962 5,069 36,008 10 8 Numerical Progress since Establishment. Total entered .. .. .. 150,891 4,056 54,947 8,732 1,110 9,842 945 137 1,082 1,174 225 1,399 7,375 7,542 14,917 |69, 117 113,070 82,187 Total transferred from other classes j 3,850 187 4,037 1,970 156 2,126 362 39 401 521 36 667 52 1 53 6,755 ! 419 7,174 54,741 14,243 58,984 10,702 1,266 11,968 1,307 176 1,483 1,695 261 1,956 7,427 7,543 '• 14,970 75,872 13,489 89,361 ■ I Total discontinued .. .. 36,692 3,460 40,152 5,194 735 5,929 545 70 615 614 94 708 3,592 5,051 j 8,643 46,637 9,410 56,047 i Total transferred to other classes .. 1,975 | 137 2,112 3,611 197 3,808 536 47 583 614 38 652 19 19 6,755 419 7,174 38,667 3,597 42,264 8,805 932 9,737 1,081 117 1,198 1,228 | 132 1,360 3,611 5,051 8,662 53,392 9,829 63,221 Total contributors on books at 31st 16,074 646 16,720 1,897 334 2,231 226 59 285 467 129 596 3,816 2,492' 6,308 22,480 3,660 26,140 233,750 4 8 December, 1932

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NATIONAL PROVIDENT FUND ACT, 1926. Direct Contributors. (3) Statement of Retiring and other Allowances for the Year ended 31st December, 1932.

Other Contributors. (3a) Statement of Retiring and other Allowances for the Year ended 31st December, 1932.

NATIONAL PROVIDENT FUND. Progress of Retiring and other Allowances since the Establishment of the Fund to 31st December, 1932.

Approximate Cost of Paper. —Preparation, not given ; printing (589 copies), £ft 10s.

By Authority : G. H. Loney, Government Printer, Wellington.—l 933. Price 3d.]

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n- t>.,tt. n- !„„„„„„it., On Attainment of Total Retiring and other On Death. On Incapacity. Age Allowances. N-ber. dumber. | Number. | /--{. Number. | ™. M. F. £ 8. d. M. F. £ S. d. M. F. £ S. d. M. F. £ S. d. Allowances existing at be- 164 .. 9,106 10 0 47 .. 1,794 0 0 47 21 3,000 17 0 258 2] 13,901 7 0 ginning of year Granted during the year 15 .. 780 0 0 28 .. 1,228 10 0 10 8 928 0 0 53 8 2,938 10 0 Total ..179 .. 9,886 10 0 75 !.. '3,022 10 0 57 29 3,928 17 0 311 ,29 16,837 17 0 Discontinued during the 16 .. 994 10 0 29 .. 1,170 0 0 .. .. .. 45 !.. 2,164 10 0 year (as per statement below) Existing at end of year.. 163 .. ;8,892 0 ol 46 ... 1,852 10 ol 57 29 3,928 17 o| 266 !29 14,673 7 0 Particulars of Retiring and other Allowances discontinued during the Year. Discontinued by death .. 1 .. 58 10 0 3 .. 78 0 0 .... .. 4 '.. 136 10 0 Expiry .. .. 15 .. 936 0 0 26 .. 1,092 0 0 .... .. 41 .. 2,028 0 0 Total .. 16 .. 994 10 0 29 .. 1,170 0 0 .... .. 45 .. 2,164 10 0

On TWth On MmIIuiI iinetnfM On Attainment of Total Retiring and other On Death. On Medical Unfitness. Retiring Age. Allowances. Number. *™* Number. *g- Number. | /-™J Number. ™ t M. F. £ 3. d. M. F. £ 8. d. M. F. £ S. d. M. F. £ 8. d. Allowances existing at be - 103 .. 2,628 0 0 34 6 2,876 10 0 252 36 28,686 5 0 389 42 34,190 15 0 ginning of year Granted during year .. 19 .. 408 0 0 14 3 1,546 9 0 48 15 7,918 14 0 81 18 9,873 3 0 Total .. 122 .. 3,036 0 0 48 9 4,422 in 0 300 51 36,604 19 0 470 60 44,063 18 0 Discontinued during year 4 .. 205 0 0 6 1 646 13 0 21 1 2,129 5 0 31 2 2,980 18 0 (as per statement below) • , ■ t i Existing at end of year.. ' 118 .. 2,831 0 ol 42 S 3,776 6 0" 279 I50 34,475 14 ol 439 58 41,083 0 0 Particulars of Retiring and other Allowances discontinued during the Year. Discontinued by death .. 2 .. 36 0 01 3 1.. 324 3 01 21 1 2,129 5 0 26 < 1 2,489 8 0 Expiry .. . . 2 .. 169 0 0 3 1 322 10 0 .... .. 5 I 1 491 10 0 Total .. i 4 !.. ! 205 0 0 6 1 646 13 0 21 1 |2,129 5 0 31 2 2,980 18 0 i I !

On Death. On Xncapac.ty °M£g°Z£* T ° M ffiSE? «*" Number. £%&. Number. / = {. Number. | / = | Number. £«- M. P. £ 8. d. M. F. J £ S. d. II. F. £ 8. d. M. i F. £ 8. d. Total granted .. 387 .. 19,785 10 0 359 16 21,934 8 0 447 84 48,510 1 01,193 100 90,229 19 0 Total discontinued .. 106 .. 8,062 10 0 271 8 16,305 12 0 111 5 10,105 10 0 488 1334,473 12 0 Total existing at 31st De- 281 .. 11,723 0 0 88 8 5,628 16 0 336 79 38,404 11 0 705 87 55,756 7 0 oember, 1932 I