H—l7

.. * 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.