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.. * 1946 NEW ZEALAND
NATIONAL PROVIDENT FUND THIRTY-FIFTH ANNUAL REPORT OF THE BOARD, FOR THE YEAR ENDED 31st DECEMBER, 1945
Presented to both Houses of the General Assembly pursuant to the National Provident Fund Act, 1926, Sections 72 and 74
PART I.—THE FUND (Section 72) 1. Summarized figures for the twelve months ended 31st December, 1945, as •compared with those at 31st December, 1944, are set out below, with detailed statistics -.annexed : 1945. 1944. New contributors .. .. .. .. 3,501 2,856 Local bodies .. .. .. .. .. 157 148 Total contributors .. .. .. .. 27,788 28,054 Annuitants .. .. .. .. .. 1,577 1,462 £ £ Contributions .. .. .. .. 368,615 357,887 Interest .. .. .. .. .. 281,019 270,977 Total income .. .. .. .. 775,406 754,673 Annuity payments .. .. .. .. 126,517 118,900 Other benefits .. .. .. .. 262,600 192,755 Total outgo .. .. .. .. .. 392,195 314,977 Funds at end of year .. .. .. 8,116,044 7,732,833 Rate of interest, per cent. .. .. .. £3 lis. 7d. £3 12s. 9d. 2. The general improvements in superannuation conditions recently granted to State servants are being sought by local authorities for their employees. Any change will entail much preliminary detail work, and the co-operation of all contributing authorities will be necessary. PART lI.—STATE SUBSIDY (Section 74) The amount of subsidy paid by the State for the year was £90,576. A. H. Nordmeyer, Chairman of the Board. R. M. Porteous, Superintendent of the Fund. Wellington, 23rd August, 1946.
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NATIONAL PROVIDENT FUND (1) Revenue Account for the Year ended 31st December, 1945 Amount of Fund at beginning of year £ National Provident Fund Act, 1926 £ (Ist January, 1945) .. .. 7,732,833 Refund of contributions on lapse, National Provident Fund Act, 1926 — reduction, and withdrawal (sees. Contributions.. .. .. 368,615 11, 12, and 13) .. .. 145,216 Interest .. .. .. 281,019 Refund of contributions in lieu of Fines (sec. 11 (4) ) .. .. 11l annuity (sec. 14) .. .. 36,128 Government contribution under Act Incapacity allowances (sees. 17 (sees. 52 and 74 (2) ,) .. .. 90,576 and 18), including contributions Contributions overpaid on exit .. 247 waived on incapacity (£1,545) .. 11,254 Benefits refunded on exit (sees. 11 Death : Refund of contributions to 16 and 28) .. .. 33.,.251 (sees. 15 (5) and 16) 56,167 Miscellaneous receipts .. .. 1 Death: Allowances on account of Refunds unclaimed .. .. 1,586 widows and children (sec. 15) .. 13,835 Annuities (sees. 13 and 48) .. 126,517 Refund of contributions overpaid on exit .. .. .. .. 247 Public Trustee : Charges .. .. 2,704 War-risk insurance premiums Amount of Fund at end of year 127 (31st December, 1945) .. .. 8,116,044 £8,508,239 £8,508,239-Balance-sheet as at 31st December, 1945 Liabilities £ Assets £ Fund as per Revenue Account .. 8,116,044 In hands of Public Trustee— National Provident Fund Act, 1926 Invested .. .. .. 8,034,936Claims due and in course of payment*— Uninvested .. .. .. 13,384 Death: Refunds (sec. 16) .. 1,567 Disbursement Account .. .. 685 Death: Refunds (sec. 15 (5) ).. 1,163 Post Office .. .. .. 12,095 Death: Allowances (sec. 15) .. 56 Balances in transit .. .. 32,200 Annuities (sees. 13 and 48) .. 870 National Provident Fund Act, 1926 Allowances (sec. 17) .. .. 11 Contributions outstanding or in Refunds of contributions in lieu course of transmission*— of annuity (sec. 14) .. 2,372 (a) Contributions due but not Public Trustee: Charges* .. 925 overdue .. .. 17,301 Refunds in Suspense .. .. 83,153 (b) Contributions overdue .. 1,496 Suspense Account .. .. 1,710 Government subsidy due under Act* Contributions prepaid .. .. 20,717 (sees. 52 and 74 (2) ) .. .. 90,570 Investment Fluctuation Reserve .. 71,255 Fines due* (sec. 11 (4) ) .. .. 93 Interest due* .. .. .. 3,194 Interest accrued but not due* .. 93,883 £8,299,843 £8,299,843
* Included in Revenue Account.
R. M. Porteous, Superintendent.
Wellington, sth August, 1946.
I hereby certify that the Revenue Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.—J. P. Rutherford, Controller and Auditor-General,
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(2) Numerical Statement for the Year ended 31st December, 1945
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Numbers. Class 1. Annuity Rate, 10s. Class 2. Annuity Rate, 20s. Class 3. Annuity Rate, 30s. Class 4. Annuity Rate, 40s. Class 5. Superannuation. Aggregate. Annual Contributions. M. F. T. M. F. T. M. F. T. M. F. T. M. F. T. M. F. T. Number of contributors at commencement of year New entrants during the year Transfer from another class Increase due to adjustment on age-error, &c. Total Discontinuances, &c. (as per ■ detailed statement below) Total at end of year 12,731 507 928 81 13,659 588 2,201 138 386 26 2,587 164 229 19 50 5 279 24 548 35 109 11 657 46 5,089 470 5,783 2,209 10,872 2,679 20,798 1,169 7,256 2,332 28,054 3,501 £ 349,773 49,906 25 8 38 66 13 79 15 4 19 36 7 43 15 6 21 157 38 195 15,971 13 13,263 838 1,017 146 14,280 984 2,405 157 425 53 2,830 210 263 21 59 10 322 31 619 43 127 11 746 54 5,574 465 7,998 2,218 13,572 2,683 22,124 1,524 9,626 2,438 31,750 3,962 415,663 54,022 12,425 871 13,296 2,248 372 2,620 242 49 291 576 116 692 5,109 5,780 10,889 20,600 7,188 27,788 361,641 Details of Discontinuances, &c., during the Year Death Notice of withdrawal Lapse and cancellation .. Attainment of annuity age Transfer to another class Decrease due to adjustment on age-error, Ac. Total 86 411. 161 87 93 i05 15 10 16 86 516 176 97 109 16 76 23 8 34 33 3 5 12 16 109 26 13 46 1 8 4 1 7 "6 ' 4 1 14 4 1 11 8 12 2 2 19 ' 3 ' *2 6 8 15 2 4 25 24 310 1.27 4 7 2,186 '25 31 2,496 1.52 4 135 817 190 225 157 7 2,333 18 42 38 142 3,150 208 267 195 3,385 43,751 634 5,791 460 1 838 146 984 157 53 210 21 10 31 4311 54 465 2,218 2,683 1,524 2,438 3,962 .54,022 Numerical Progress since Establishment Total entered .. Total transferred from other classes 64,432 4,730 5,743 270 70,175 5,000 10,526 3,363 1,461 317 11,987 3,680 1,135 620 196 83 1,331 703 1,471 940 313 78 1,784 1,018 12,616 153 25,611 13 38,227 166 90,180 9,806 33,324 761 123,504 10,567 69,162 6,013 75,175 13,889 1,778 15,667 1,755 279 2,034 2,411 391 2,802 12,769 25,624 38,393 99,986 34,085 134,071 Total discontinued Total transferred to other 53,222 3,515 4,853 289 58,075 3,804 7,062 4,579 1,106 300 8,168 4,879 754 759 134 96 888 855 948 887 199 76 1,147 963 7,594 66 19,844 27,438 66 69,580 9,806 26,136 761 95,716 10,567 classes 56,737 5,142 61,879 11,641 1,406 13,047 1,513 230 1,743 1,835 275 2,110 7,660 19,844 27,504 79,386 26,897 106,283 Total contributors on books at 31st December, 1945 12,425 871 13,296 2,248 372 2,620 242 49 291 576 116 692 5,109 5,780 10,889 20,600 7,188 27,788 361,641
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NATIONAL PROVIDENT FUND ACT, 1926 Contributors (General) (3) Statement of Annuities and Allowances for the Year ended 31st December, 1945
Contributors (Superannuation—Sections 22, 38, and 54 of the Act) (3a) Statement of Retiring and other Allowances for the Year ended 31st December, 1945
NATIONAL PROVIDENT FUND Progress of Annuities and Allowances since the Establishment of the Fund to 31st December, 1945
Approximate Cost of Paper.—Preparation, not given ; printing (590 copies), £l3
By Authority: E. V. Paul, Government Printer, Wellington. —1946. Price 3d.]
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— On Death. On Incapacity. On Attainment of Age 60. Total Annuities and Allowances. Number. Annual Amount. Number. Annual Amount. Number. Annual Amount. Number. Annual Amount. Existing at beginning of year Granted during the year Total Discontinued during the year (as per statement below) Existing at end of year.. Particulars Discontinued by death Expiry Total M. v. 168 1 22 .. £ 8,366 1,111 M. F. 23 .. 6 .. £ 936 234 M. F. 620 166 89 15 £ 31,630 3,266 M. E. 811 167 117 15 £ 40,932 4,611 190 1 19 .. 9,477 1,190 29 .. 8 .. 1,170 338 709 181 18 5 34,896 988 928 182 45 5 45,543 2,516 171 1 8,287 21 832 691 176 33,908 883 177 43,027 of Anm ii ; cities and Allowa 20 1 2 1,170 I 6 nces discontinued 59 1 18 5 279 1 .. during the Ydar 988 1 20 5 1 25 1,067 1,449 19 .. ' 1,190 1 8 .. 338 | | 18 5 988 | | 45 5 2,516
— On Death. On Medical Unfitness. On Retirement (Age or Service). Total Retiring and other Allowances. Number. Annual Amount. Number. Annual Amount. Number. Annual Amount. Number. Annual Amount. Existing at beginning of year Granted during the year Total Discontinued during the year (as per statement below) Existing at end of year Particulars i Discontinued by death Expiry Total M. F. 235 22 .. £ 4,891 400 M. F. 61 16 24 5 £ 6,910 3,715 M. F. 464 212 62 20 £ 90,423 13,999 760 228 108 25 £ 102,224 18,114 257 9 .. 5,291 321 $5 21 10 1 10,625 1,080 526 232 43 5 104,422 6,759 868 253 62 6 120,338 8,160 248 .. 4,970 75 20 9,545 483 227 97,663 806, 247 112,178 >/ Retirit 5 .. 4 . . ig and other Alio' 108 1 1 213 I 9 1 wances discontinu 9 1 41 5 1,071 1 2 .. ed durim 6,404 355 7 the Ye< 47 5 15 1 ar 6,521 1,639 9 .. 321 | | 10 1 1,080 | | 43 5 6,75$) 62 6 8,160
On Death. On Incapacity. On Maturity (Age or Service). Total Annuities and Allowances. Number. Annual Amount. Number. Annual Amount. Number. Annual Amount. Number. Annual Amount. Total granted Total discontinued M. . F. 938 1 519 .. £ 42,461 29,204 M. F. 780 59 684 39 £ 56,933 46,556 M. F. 1,697 470 523 67 £ 190,402 58,831 M. F. 3,415 530 1,726 106 £ 289,796 134,591 Total existing at 31st December, 1945 419 1 13,257 96 20 10,377 1,174 403 131,571 1,689 424 155,205
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Bibliographic details
NATIONAL PROVIDENT FUND THIRTY-FIFTH ANNUAL REPORT OF THE BOARD, FOR THE YEAR ENDED 31st DECEMBER, 1945, Appendix to the Journals of the House of Representatives, 1946 Session I, H-17
Word Count
1,548NATIONAL PROVIDENT FUND THIRTY-FIFTH ANNUAL REPORT OF THE BOARD, FOR THE YEAR ENDED 31st DECEMBER, 1945 Appendix to the Journals of the House of Representatives, 1946 Session I, H-17
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