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Unions Offer Superannuation Expertise

16 September 2004

Unions Offer Superannuation Expertise

Unions would be happy to lead the way in helping to choose providers for the proposed work-based superannuation scheme, Council of Trade Unions economist Peter Conway said today.

Business New Zealand chief executive Simon Carlaw has raised concerns about the time involved for employers in choosing a superannuation scheme provider.

“Unions have been doing this kind of work for decades and are happy to lend their expertise,” Peter Conway said. “We were involved in the development of the State Sector Retirement Fund scheme and are well aware of the issues involved.”

The CTU would welcome the opportunity to engage in a process with Government and employers in finding appropriate providers, he said.

Peter Conway said that the Harris Report released yesterday also recommended that if an employer was not able to choose a provider then the central administrator of schemes could, and that the regulations which concern employers about perceived liability should be changed.

Workers could, in any case, switch providers, he said.

ENDS

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