|
|
|
Notes
|
2004
|
2003
|
|
Income
|
|
|
|
|
Social insurance income
|
|
|
|
|
Standard contributions
|
|
51,015,297
|
47,867,815
|
|
Prior year contributions
|
|
431,166
|
647,111
|
|
Penalties and others
|
|
1,269,073
|
1,254,769
|
|
|
|
52,715,536
|
49,769,695
|
|
Net investment income
|
16
|
42,513,054
|
45,217,350
|
|
Other income
|
|
|
|
|
Income from pension loans
|
|
317,819
|
236,667
|
|
Service income of Marina Club
|
|
748,273
|
750,147
|
|
Miscellaneous income
|
|
46,944
|
39,453
|
|
Compensation receivable from the Government
|
17
|
7,635,602
|
-
|
|
|
|
8,748,638
|
1,026,267
|
|
Total income
|
|
103,977,228
|
96,013,312
|
|
Expenses
|
|
|
|
|
Benefits paid
|
|
(35,304,776)
|
(34,469,247)
|
|
General and administrative expenses
|
|
(3,452,895)
|
(3,450,687)
|
|
Provision for bad and doubtful social insurance
|
|
|
|
|
contributions receivable
|
|
(1,000,000)
|
(2,333,226)
|
|
Operating costs of Marina Club
|
|
(580,796 )
|
(584,455 )
|
|
Total expenses
|
|
(40,338,467 )
|
(40,837,615 )
|
|
Net income transferred to scheme members' funds
|
|
63,638,761
|
55,175,697
|
These consolidated financial statements were approved by the Board
of Directors on 2 October 2005 and signed on their behalf
by:
|
.....................................
|
....................................................
|
|
Chairman
|
Director General
|
The accounting policies on pages 6 to 9 and the notes on pages
10 to 22 form an integral part of these consolidated financial statements.
|