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The New Zealand Superannuation Fund (Māori: Te Kaitiaki Tahua Penihana Kaumātua o Aotearoa) is a sovereign wealth fund in New Zealand.New Zealand currently provides universal superannuation for people over 65 years of age and the purpose of the Fund is to partially pre-fund the future cost of the New Zealand Superannuation pension, which is expected to increase as a result of New Zealand's ...
In 1898 the New Zealand government introduced a means-tested old-age pension for those 65 years and older. [12] This established some key features of public pensions in New Zealand, such as the use of general government spending rather than individual contributions, and a "pay as you go" rather than an actuarial approach to funding.
As of 1 April 2014, the Domestic Purposes Benefit – Care of Sick or Infirm, has been replaced by the Supported Living Payment. [16] The Supported Living Payment goes from a minimum weekly net payment of NZ$211.46 for single 16- and 17-year-olds to a maximum payment of NZ$435.50 for a married couple, de facto couple or a civil union couple.
The Ministry of Social Development (MSD; Māori: Te Manatū Whakahiato Ora) is the public service department of New Zealand charged with advising the New Zealand Government on social policy, and providing social services. MSD is the largest public service department, employing public servants in over 200 locations around New Zealand.
Superannuation in New Zealand This page was last edited on 12 May 2022, at 23:30 (UTC). Text is available under the Creative Commons Attribution ...
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The KiwiSaver scheme logo. KiwiSaver is a New Zealand savings scheme which has been operating since 2 July 2007. Participants can normally access their KiwiSaver funds only after the age of 65, but can withdraw them earlier in certain limited circumstances, for example if undergoing significant financial hardship or to use a deposit for a first home.
In 2016, New Zealand Post announced a successful completion of the sale of 47 percent of Kiwibank to the New Zealand Superannuation Fund (25 percent) and the Accident Compensation Corporation (ACC) (22 percent). [18] On 22 August 2022, the New Zealand Government purchased Kiwibank's holdings company Kiwi Group Holdings for an estimated NZ$2.1 ...