Kia Orana Members, the CINSF Administration Report is now available for the first quarter of 2021.
Member contributions for the first quarter totaled approximately $2m, with 97 new members registered to the fund and 11 new pensioners, bringing the total number of members to 12,729.
The Fund paid out approximately $1.1m in benefits during the quarter for foreign worker withdrawals, retirement, voluntary withdrawals, and deaths.
Member investment options also show $514k being transferred between the Conservative, Balanced and Growth Funds.
Interim interest rates to March end 2021 are -0.4% for the Conservative Fund, 1.9% Balanced Fund, and 3.5% Growth Fund. These interim rates have recovered significantly than the previous months.
To view the full administration report please click on the link below.