The final quarter 2019 administration report is now available to members.
Member contributions for the last quarter totalled $4.8m, with 294 new members registered to the fund, and 72 member claims, increasing the total number of members to 12,008.
The number of pensioners this year has increased by 48 to 278, and our ratio of active members to dormant members remains split with 50% of members not having contributed within the last 3 months.
The Fund paid out $844k in benefits during the quarter for foreign worker withdrawals, retirement, voluntary withdrawals, and deaths.
Member investment options also show $400k being transferred from the Conservative Fund to the Balanced and Growth Funds.
Interim interest rates to 31 December are 10.60% Conservative Fund, 15.70% Balanced Fund, and 19.40% Growth Fund.
The interim rates to 31 December are also a good indication, with an allowance for final costs, of what will be close to the final declared interest rate paid to members for 2019.
The Audit process has now begun on this and we will inform members once completed and the interest rates are declared.
To view the full administration report please click on the link below.