NATIONAL PROVIDENT FUND

Dominion, Volume 11, Issue 43, 14 November 1917, Page 5

NATIONAL PROVIDENT FUND

MEMBERSHIP OF OVER TEN THOUSAND. The Hon. Arthur M. Myers, Minister in Chargo of tho National Provident Fund Department, in tho courso of a re. cent interview stated:—"Tho business of tho fund gonerally ia satisfactory. Tho report and balance-sheet presented by mo to Parliament indicated that the membership and reserve funds had substantially increased since the previous year. The amount of the fund at' January 1, 1917, was compared with. .£83,000 at the beginning of the previous year. At June SO last the amount of the fund was and the membership was over 10,000. Tho rate of increased membership has boe'n weil maintained, notwithstanding tho demand of war ser'rice on the class of lives whioh the fund is desirous of enrolling. There are 2805 contributors of the fund at the front, •who obtain a concession by way of reduction of contribution during the time thoy are serving with tho Forces. "The fund during tho present year brought into operation a very important ■extension of annuity and maternity benefits in connection with friendly societies, all of which have now become approved for the purpose of the Act. This entitles their members to a maternity allowance without extra contributions, >and during the present year, up to the end of October, the eum of .£7412 had been paid to ■ members on account of 1853 claims. The average monthly expenditure for friendly Moieties' maternity claims is already well up to the estimate, and the results go to snow that this allowance is much appreciated by the societies. In addition to the maternity, allowances paid to the societies, tte fund has also paid direct to contributors the sum of making a total for maternity allowances from the State ot £lO,m for tho first ten months of the "The fund's tables for local authorities' superannuation are receiving close attention from the employees-of these bodies, and important steps have already been taken in the direction of completing schemes for the benefit of the staffs.