Kia Orana Members, the CINSF Administration Report is now available for the second quarter of 2022.
Member contributions for the second quarter totalled approximately $4.2m, with 226 new members registered to the fund and 8 new pensioners, bringing the total number of members to date 13,141. The Fund paid out approximately $1.6m in benefits during the quarter for foreign worker withdrawals, retirement, voluntary withdrawals, and deaths.
The second quarter of 2022 was greatly impacted by events including COVID (and it’s recovery), the Ukraine-Russia War, and central bank’s monetary tightening to combat high inflation which has rollover effects into economies globally. In turn, governments and markets alike have been responding, resulting in a negative interim rate to June end 2022 – Conservative at -22.8%, Balanced at -26.5%, and Growth -28.7%.
To view the full administration report please click on the link below.