Kia Orana Members, the CINSF Administration Report is now available for the third quarter of 2022.
Member contributions for the third quarter totaled approximately $4.1m, with 386 new members registered to the fund and 5 new pensioners, bringing the total number of members to date 13,532. The Fund paid out approximately $1.4m in benefits during the quarter for foreign worker withdrawals, retirement, voluntary withdrawals, and deaths.
The third quarter of 2022 was greatly impacted by events including China Lockdowns, lingering Ukraine-Russia War, and central bank’s further fiscal tightening to combat higher than expected inflation which has rollover effects into economies globally. In turn, governments and markets alike have been responding, resulting in a negative interim rate to September end 2022 – Conservative at -13.7%, Balanced at -14.4%, and Growth -14.9%.
To view the full administration report please click on the link below.