Kia Orana Members, the CINSF Administration Report is now available for the third quarter of 2021.
Member contributions for the third quarter totaled approximately $3.0m, with 171 new members registered to the fund and 2 new pensioners, bringing the total number of members to date 13,018.
The Fund paid out approximately $1.8m in benefits during the quarter for foreign worker withdrawals, retirement, voluntary withdrawals, and deaths.
Member investment options also show $2.7mil being transferred between the Conservative, Balanced and Growth Funds. A large spread of this figure was transferred to the Growth and Balanced fund from the Conservative. This is a significant increase from $514k in the previous quarter, suggesting that the appeal of investing in the Balanced and Growth options are of great importance to Members. Over the past 6 months, the delivery of high quality presentations to the public by our Client Services and Investment teams are beginning to produce material changes, resulting in these switches.
Interim interest rates to October end 2021 are 2.2% for the Conservative Fund, 4.6% Balanced Fund, and 10.4% Growth Fund.
To view the full administration report please click on the link below.