Kia Orana Members, the CINSF Administration Report is now available for the fourth quarter of 2021.
Member contributions for the third quarter totaled approximately $3.0m, with 89 new members registered to the fund and 12 new pensioners, bringing the total number of members to date 13,119. The Fund paid out approximately $2m in benefits during the quarter for foreign worker withdrawals, retirement, voluntary withdrawals, and deaths.
Over 2021, the highest amount of funds transferred between options has been in the Q4 period. Member investment options show $5.6mil being transferred between the Conservative, Balanced and Growth Funds – this is a significant increase from $2.7mil in the previous quarter. A large spread of this figure was transferred to the Growth option. Over the past 6-9 months, the delivery of high quality presentations to employers by the CINSF team have shown material changes, as demonstrated by the switches over the full year period.
Interim interest rates to December end 2021 are 2.1% for the Conservative Fund, 5.1% Balanced Fund, and 10.3% Growth Fund.
To view the full administration report please click on the link below.