NATIONAL PROVIDENT FUND.

Taranaki Daily News, 6 January 1919, Page 5

NATIONAL PROVIDENT FUND.

INTERESTING MINISTERIAL STATEMENT.

Auckland, Jan. 3.

The Hon.-Arthur Myers, Minister in. charge of the National Provident Fund, made an interesting statement, in referring to the position of the fund and its work during the iast few years. A review of the fund's operations for the four years of the war shewed that, notwithstanding the adverse conditions prevailing for business of this description, membership had been • substantially increased, and the fund's revenue placed on a basis that assured its national future. The membership was now about 14,000, and the reserve fund amounted to close on £250,000.

Mr. Myers went on to say that the recent epidemic had brought out in a very striking manner the value of the fund as a social insurance factor in the life of the community. The number of claims t'yat had come before the Department 011 account of deaths due to influenza during the last few weeks indicated how necessary it was that the people ! should become contributors to suc'rTa valuable, and beneficent fund. Where tho bread-winner had been lost, the fund was now available for the contributors—■ widows and children- In one case, a widow and young family would draw an estimated aggregate sum of close ojj £IOOO from tho fund by way of benefits, although at the time of the contributor's death the total contributions of £l3 paid by him had been more than exceeded by the benefits received during his lifetime. In another oase, aggregate payments to tho widow and children would amount to over £IOOO, the net contribution paid during the contributor's lifetime being £l-2. While in some instances, unfor* tunately, the five years' membership qualification had not been quite completed, and the fund's could not be granted, the actual payable claims illustrated one of the main purposes for which this fund was established. The experience during the last two months in connection with these cases, while it occasioned regret that a greater number of families throughout the Dominion were not insured against the sudden loss of their supporter, would stimulate action in the direction of a further und wider extension of this form of protective ins«ranc«. >