NATIONAL PROVIDENT FUND.

Taranaki Daily News, 27 January 1921, Page 5

NATIONAL PROVIDENT FUND.

PAST YEAR’S WORDING. By Telegrsph.—Press Association. Wellington Jan. 26. Sir William Herries, Minister in charge of the National Provident Fund, in the course of a statement relative to the operations of the fund during the past year, said tjiat the number of new contributors ' (6000) enrolled in all branches of the fund’s work, easily constituted a record. The contribution revenue of the fund also showed a substantial increase, the total amount for 1920 being £,106,527, as against £73,872 for 1919. The income of the fund from all sources was £150,490 for the previous year, while the total of the fund increased ( irom £338,729 to £469,311. As regards the benefits payable by the fund during the year just ended, £31,708 was ‘ paid out to contributors and to Friendly Societies’ members for maternity, allowances, and at December 31 the pensions and allowances to contributors* and widows and children were payable at an annual rate of £7,926. A striking feature of the year’s operations is the increase in the local authorities’ branch, the superannuation rights of some 2000 employees having bean co-operated in the fund with benefitja similar to the Government service finds. The successful consolidation of tllese groups in the centrally administered fund gives a valuable lead to the further widening of national superannuation. I The general results of the year’s tivorking are in every way satisfactory, /and a continuance of the present rate ,of increase in business will place the fund in a forward position, as an important factor in solving the problem of indigent old age and its concomitant evils.