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Working party to consider extension to state super

22 December 2005 Media Statement

Working party to consider extension to state superannuation scheme

State Services Minister Annette King has announced a working party to consider options for extending the State Sector Retirement Savings Scheme (SSRSS) to entities in the wider State sector.

Current SSRSS employers are the 35 ministries and departments in the Public Service; five non-Public Service departments; State or State-integrated area, primary, intermediate, secondary or special schools; free kindergarten associations (registered teachers only); and a few entities in the wider State sector (on the basis of funding the employer subsidy from their existing budget).

Ms King says the working party has been asked to report on the costs and processes required for any extension of the SSRSS to the wider State sector.

“The SSRSS has been a very successful initiative, prompting many public servants to start saving for their future retirement. The Government has previously signalled that it intended to consider an extension of the scheme, and I expect the working party’s final report will be delivered by 15 September 2006.”

Angela Foulkes has been appointed as chair of the working party. Other members nominated for the working party are: Helen Kelly , vice-president, NZ Council of Trade Unions; Eileeen Brown, policy analyst/programme organiser, CTU; Glenn Barclay, policy adviser, PSA; Glenda Alexander, industrial adviser, NZ Nurses Organisation; Sharn Riggs, national secretary, Association of Staff in Tertiary Education; Andrew Norton, general manager, human resources, Auckland District Health Board; Nick Economu, manager, superannuation plan, NZ Post; Ellen Dunster, group manager, human resources, AgResearch Ltd; Murray Costello, manager, agency group, Culture and Heritage Ministry; Hauraki Greenland, principal adviser, social policy, Treasury; Helen Moody, manager, SSRSS, State Services Commission; and a representative, yet to be named, from the New Zealand Vice Chancellors’ Committee.

A brief biography of Angela Foulkes and working party terms of reference are attached.

Angela Foulkes
Angela brings a wealth of public and private sector experience, including in the financial services industry, to the Wider State Sector Working Party. In recent years she has held a variety of relevant roles: trustee of workplace savings schemes, member of the Financial Intermediaries Taskforce, on the Selection Panel for providers for the SSRSS, and chair of the Super 2000 Taskforce. Angela was the Vice President of the New Zealand Council of Trade Unions for four years from 1987, and then Secretary (to 1999).

Terms of Reference

Work Programme for the SSRSS Working Party – Extending Coverage

1 A second Working Party comprised of representatives of a wider range of employers – DHBs, TEIs, CRIs, other Crown Entities and representatives of State sector unions affiliated to the CTU --- is being convened to consider the costs and processes required to extend the current SSRSS to the wider State sector. The Working Party will be chaired by an independent chair, Angela Foulkes, and supported by SSC and the Treasury. The Government Actuary is available to assist the Working Party as requested. The membership will be decided in consultation with the relevant Ministers.

2 The focus of the Working Party will be on developing options for any extension of the SSRSS to the wider State sector. It will need to take into consideration trends in superannuation generally and a range of other issues. These include the:
- conclusions from the Savings Product Working Group (chaired by Peter Harris) and implications of the introduction of KiwiSaver
- work coordinated by Craig Stobo on options for taxation of investment income
- implications of the analysis and conclusions from the first Working Party
- work on Pay and Employment Equity
- gender implications
- employment negotiations that are currently taking place
- different superannuation arrangements in the wider State sector
- structures for bargaining present in the State sector
- implementation process.

ENDS

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