NZ Super Fund
NZ Super Fund
The New Zealand Superannuation Fund was created in 2001 after extensive public and parliamentary debate.
As a Sovereign Wealth Fund, we invest the government’s money to grow it over the long term to make future superannuation costs more affordable.
It's important we save now because New Zealand's population is getting older, and with more people aged 65 and older the cost of NZ Super payments will increase.
The legislation creating the Fund was sponsored by the then Minister of Finance, Sir Michael Cullen. For a long time, we were known colloquially as the “Cullen Fund”.
The Fund is managed by the Guardians of New Zealand Superannuation, which is an Autonomous Crown Entity that operates independently from the Government of the day.
This means that, although we are still accountable to the Government, we have operational independence regarding investment decisions and are, instead, overseen by an independent Board.
Withdrawals from the Fund commenced in 2020 but substantial draw-downs will not begin until the 2050s.
As a Sovereign Wealth Fund, we invest the government’s money to grow it over the long term to make future superannuation costs more affordable.
It's important we save now because New Zealand's population is getting older, and with more people aged 65 and older the cost of NZ Super payments will increase.
The legislation creating the Fund was sponsored by the then Minister of Finance, Sir Michael Cullen. For a long time, we were known colloquially as the “Cullen Fund”.
The Fund is managed by the Guardians of New Zealand Superannuation, which is an Autonomous Crown Entity that operates independently from the Government of the day.
This means that, although we are still accountable to the Government, we have operational independence regarding investment decisions and are, instead, overseen by an independent Board.
Withdrawals from the Fund commenced in 2020 but substantial draw-downs will not begin until the 2050s.