Kia Orana Members, the CINSF Administration Report is now available for the first quarter of 2022.
Member contributions for the third quarter totaled approximately $3.4m, with 124 new members registered to the fund and 11 new pensioners, bringing the total number of members to date 12,904. The Fund paid out approximately $1.6m in benefits during the quarter for foreign worker withdrawals, retirement, voluntary withdrawals, and deaths.
The first quarter of 2022 was greatly impacted by events including COVID (and it’s recovery), rising inflation rates, and the Ukraine-Russia War which has rollover effects into economies globally. In turn, governments and markets alike have been responding, resulting in a negative interim rate to March end 2022 – Conservative at -5.6%, Balanced at -5.8%, and Growth -6.0%.
To view the full administration report please click on the link below.