About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Monday, June 27th, 8:22PM
rss
Latest Headlines

1st payment made to partial pre-funding of NZ Super

The Government has used the 2001 Budget to begin making contributions into the planned New Zealand Superannuation Fund.

Thursday, May 24th 2001, 1:51PM

"The initial contribution is for $600 million, the amount signalled in this year's Budget Policy Statement," Finance Minister Michael Cullen said.

The assumed transfers for the subsequent three years were $1.2 billion, $1.8 billion and $2.5 billion respectively.

This money would sit in the Debt Management Office, earmarked for the New Zealand Superannuation Fund. But the Fund itself, and the governance arrangements for it, would not be formally established until the New Zealand Superannuation Bill, now before the Finance and Expenditure Select Committee, was passed.

"Securing New Zealand Superannuation is vital as currently almost half of all superannuitants rely entirely on NZS as their sole source of income," Dr Cullen said.

"However it is important that New Zealanders also save privately if they want a higher standard of living than the NZS can provide.

"The Government will appoint a small task force of officials and savings industry representatives to report back before the end of this year on options to lift private savings."

This timetable would allow the task force to take into account the work of the Taxation Review Committee.

"We will attempt to get cross-party consensus on both the partial prefunding scheme and on the tax treatment of private superannuation schemes.

"But if we cannot get agreement to pass the necessary legislation in this Parliament, we will campaign actively for our own policies at the next elections and let the voters judge," Dr Cullen said.

« Fund's rules present problemsAMP & Good Returns launch superannuation website »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • Code changes likely by year's end
    “Is there any update on when the Code Committee will issue its paper? We're almost at the end of June. Second, why should...”
    1 day ago by Murray Weatherston
  • Kepa's fees changes for mortgage advisers worrying move
    “As a Kepa member I think this is a smart move and it was Heather Royle's suggestion to raise fees for non Kepa insurance...”
    4 days ago by Mellow
  • Mortgage lending raises red flag
    “Everyone knows the problem but will anyone do something. RBNZ should introduce mrasures on priority and do not follow...”
    5 days ago by Simth
  • [Comment] Advice matters
    “Well said Ed. Could it be that the industry is on the brink of positive change for positive outcomes to the benefit of all...”
    6 days ago by Bruce Cortesi
  • Commissions not driving adviser behaviour
    “A very good summary David. And as usual Graeme, another very good response and good points, to which I agree with. To...”
    6 days ago by Referee
Subscribe Now

News and information about KiwiSaver

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.64 4.75 4.85 4.99
ANZ Special - 4.25 4.35 -
ASB Bank 5.55 4.69 4.75 4.89
ASB Bank Special - 4.25 4.19 4.39
BankDirect 5.55 4.69 4.75 4.89
BankDirect Special - 4.25 4.19 4.39
BNZ - Mortgage One 6.30 - - -
BNZ - Rapid Repay 5.75 - - -
BNZ - Special - 4.25 4.19 4.39
BNZ - Std, FlyBuys 5.69 4.85 4.89 4.99
BNZ - TotalMoney 5.69 - - -
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 6.70 - - -
Credit Union Baywide 5.95 4.99 4.99 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 5.60 4.85 4.90 -
Housing NZ Corp 5.55 4.69 4.85 4.99
HSBC Premier 5.75 4.19 4.19 4.49
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.60 4.39 4.69 4.99
Kiwibank 5.45 4.70 4.75 4.49
Kiwibank - Capped - - - -
Kiwibank - Offset 5.50 - - -
Kiwibank Special - 4.29 4.15 -
Liberty - - - -
Napier Building Society 6.50 5.80 6.70 -
Nelson Building Society 6.10 4.85 4.99 -
NZ Home Loans 5.85 4.69 4.75 4.49
NZ Home Loans - Specials - - - -
Lender Flt 1yr 2yr 3yr
NZ Home Loans - Specials - 4.19 ▲4.19 4.39
Perpetual Trust 7.70 - - -
Resimac 5.34 4.95 4.99 5.05
SBS Bank 5.59 4.75 4.89 4.99
SBS Bank Special - 4.10 4.19 4.65
Sovereign 5.65 4.69 4.75 4.89
Sovereign Special - 4.25 4.19 4.39
The Co-operative Bank 5.45 4.25 4.29 4.49
TSB Bank 5.54 4.75 4.75 4.99
TSB Special - 4.25 4.19 4.59
Wairarapa Building Society 6.20 5.75 5.95 -
Lender Flt 1yr 2yr 3yr
Westpac 5.75 4.79 4.85 4.99
Westpac - Capped rates - 5.15 5.25 -
Westpac - Offset 5.75 - - -
Westpac Special - 4.25 4.29 4.49
Median 5.75 4.69 4.75 4.89

Last updated: 27 June 2016 9:00am

News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com