INDEPENDENT NEWS

Independent expert gives NZ Super Fund big tick

Published: Wed 10 Nov 2004 03:22 PM
10 November 2004 Media Statement
Independent expert gives NZ Super Fund big tick
Finance Minister Michael Cullen today released a highly positive report from independent expert Jonathan Eriksen on the performance of the Guardians of the New Zealand Superannuation Fund, saying it showed the Fund was in good hands.
Mr Eriksen, an Auckland-based actuary and business consultant, found that the investment policies, standards and procedures established by the Guardians were appropriate to the Fund, that the returns to date had been satisfactory and that there was best practice governance and accountability across the organisation.
“His findings are cause for considerable satisfaction to the government, given the importance of the Fund to the future viability of New Zealand Superannuation and to the security in retirement of New Zealanders.
“Mr Eriksen has recommended some extra resourcing for the Fund. I will consider these recommendations,” Dr Cullen said.
David May chairs the Board of Guardians with Sir Douglas Graham as his deputy. Other members are: Michaela Anderson, Ira Bing, Bridget Liddell, David Newman and Glen Saunders.
The legislation establishing the Fund provides for periodic reviews of the board every five years.
The Eriksen report is available on the treasury website: http://www.treasury.govt.nz/release/super/
ENDS

Next in New Zealand politics

Concerns Conveyed To China Over Cyber Activity
By: New Zealand Government
Parliamentary Network Breached By The PRC
By: New Zealand Government
GDP Decline Reinforces Government’s Fiscal Plan
By: New Zealand Government
Tax Cuts Now Even More Irresponsible
By: New Zealand Labour Party
New Zealand Provides Further Humanitarian Support To Gaza And The West Bank
By: New Zealand Government
High Court Judge Appointed
By: New Zealand Government
View as: DESKTOP | MOBILE © Scoop Media