Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


NZ Super Fund leads the world

Hon Grant Robertson

Minister of Finance

19 September 2019



An independent report showing the New Zealand Super Fund is operating at global best practice backs the Coalition Government’s decision to restart contributions.

“Earlier this week, the Super Fund announced it had grown by $3.7 billion over the past year to $43 billion – a pre-tax return of seven percent. These funds will go towards future NZ Super costs for New Zealanders, and help keep the cost of NZ Super affordable, Finance Minister Grant Robertson says.

“The result beat the Fund’s reference benchmark. It was a solid performance given the current global economic volatility, and shows the Super Fund is well-run.

“The Government is proud to have restarted contributions to the Super Fund, with more than $9 billion to be invested over five years.”

Today, a five-yearly independent review of the Guardians of New Zealand Superannuation and the NZ Super Fund was tabled in Parliament.

“The review shows the Fund is operating at global best practice levels, alongside only a small number of investors globally. It provides strong assurance that the Guardians are carrying out their mandate effectively,” Grant Robertson says.

This endorsement also validates this Government’s recent decision for the Guardians to administer the new $300 million Venture Capital Fund announced in the Wellbeing Budget.

“The review included a number of recommendations for ongoing improvement in certain areas and I look forward to engaging with the Guardians on this work,” Grant Robertson says.

Grant Robertson today also announced the reappointment of Guardians Board Chair Catherine Savage for an additional 18 month term and Board member Stephen Moir for an additional 12 month term.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Global Factors Facing TV3

Oaktree Capital gave MediaWorks a gallows reprieve in 2013 by pushing out its former Australian owner Ironbridge and facilitating a receivership-driven restructure that enabled MediaWorks to shed a burden of tax liabilities and international programme purchasing contracts. Oaktree eventually assumed 100% ownership of Mediaworks in 2015.

But here’s the rub. In May of this year, Oaktree itself was bought into by the giant Canadian firm Brookfields Asset Management... In the light of the Brookfields stake and the uncertain state of the global economy, Oaktree has come under pressure to shed and/or streamline the underperforming assets in its portfolio. More>>


'Armed Response Teams': Armed Police "Will Cause American-Style Shootings"

The Police Commissioner's announcement that squadcars of officers with automatic rifles will patrol New Zealand's streets is dangerous and unnecessary, according to the criminal justice community organisation People Against Prisons Aotearoa. The ... More>>


Control Orders: Amnesty Says Don't Rush Terrorism Bill

"The problem is, we often see the word “terrorism” being applied broadly by oppressive regimes to detain innocent people who're simply rallying for a better life." More>>


Expert Reaction: $17 million To Fight Online Extremist Content

The Department of Internal Affairs will double its work investigating and preventing violent extremism online. Funding will also help bolster the Chief Censor's work to make fast decisions about harmful content. More>>


Could Do Better: Post-Sroubek Review Of Deportation Info

Ms Tremain acknowledges that the review highlighted some aspects of the process that can be improved and makes five main recommendations to strengthen the existing processes for preparing files for decision-makers. Those recommendations are: More>>


Gordon Campbell: On A New Book On The Leaky Homes Scandal

We all know that journalism is short of cash and under pressure from the speed, brevity and clickbait pressures of the 24/7 news cycle… but hey, given the right subject and a sufficiently stubborn journalist, it can still surpass most of the works of the academic historians... More>>

Regulation: Review Finds NZTA Road Safety Failings

The independent review, carried out by consultant agency MartinJenkins, lists at least 10 reasons for the failures including the agency being focused on customer service at the expense of its policing functions. More>>


Rod Carr: Climate Change Commission Chair-Designate Announced

Climate Change Minister James Shaw has today announced the appointment of Dr Rod Carr as Chair-designate for the Climate Change Commission. More>>


Compliance Complaints: 'Putting Right' Holidays Act Underpayment In Health

The Government is putting right a decade’s worth of underpayment to nurses, doctors and other health workers, says Health Minister Dr David Clark. More>>





InfoPages News Channels