Kia Orana Members, the CINSF Administration Report is now available for the third quarter of 2020.
Member contributions for the third quarter totalled approximately $1.6m, with 132 new members registered to the fund and 16 new pensioners, increasing the total number of members to 12,748.
The Fund paid out approximately $950k in benefits during the quarter for foreign worker withdrawals, retirement, voluntary withdrawals, and deaths.
Member investment options also show $210k being transferred between the Conservative, Balanced and Growth Funds.
Interim interest rates to September 2020 are 2.80% for the Conservative Fund, -0.40% Balanced Fund, and -1.80% Growth Fund. These interim rates have recovered significantly since Q2.
To view the full administration report please click on the link below.