11.-17

1940. NEW ZEALAND.

NATIONAL PROVIDENT FUND. TWENTY-NINTH ANNUAL REPORT OF THE BOARD, FOR THE YEAR ENDED 31st DECEMBER, 1939.

Presented to both Houses of the General Assembly -pursuant to the National Provident Fund Act, 1926, Sections 72 and 74.

PART I.—THE PUND (Section 72). Owing to the exigencies of the times the report this year is confined to the following figures and tables :— 1939. 1938. New contributors .. .. .. .. .. 2,997 4,064 Local bodies .. .. .. .. .. 129 124 Total contributors .. .. .. .. 28,729 29,439 Annuitants .. .. .. .. .. 935 847 £ £ Contributions .. .. .. .. .. 299,308 313,900 Interest .. .. .. .. .. .. 212,627 198,617 Total income .. .. .. .. .. 632,128 653,392 Annuity payments .. .. .. .. 82,353 73,691 Other benefits .. .. .. .. .. 188,521 204,254 Total outgo .. .. .. .. .. 273,971 355,721 Funds at end of year .. .. .. .. 5,648,415 5,290,258 Rate of interest, per cent. .. .. .. .. £3 18s. 3d. £3 18s. 2d.

PART lI.—STATE SUBSIDY (SECTION 74). The amount of subsidy paid by the State for the year was £76,662 Is. 7d.

W. Lee Martin, Chairman of the Board.

R. SINEL, Superintendent of the Fund.

Wellington, Ist August, 1940.