IDEAS home Printed from https://ideas.repec.org/c/nzt/nztmdt/nzsfcrm.html
 

New Zealand Superannuation (NZS) Fund Contribution Rate Model

Author

Programming Language

Abstract

This is the New Zealand Treasury's spreadsheet-based model that is used to calculate the New Zealand government's capital contribution to the New Zealand Superannuation Fund (NZSF). The model was updated at the time of the release of the Half Year Economic and Fiscal Update 2024 (HYEFU 2024) in December 2024. This model calculates the contribution rate for pre-funding New Zealand Superannuation (NZS) under the legislated formula in Section 43 of the New Zealand Superannuation and Retirement Income Act 2001. From this contribution rate, which is expressed as a percentage of nominal GDP, the government's capital contributions to the Fund, and in later years withdrawals from the Fund to the Crown, are derived. The only exception to this is the contribution for the current fiscal year, 2024/25, which has not been changed from the value calculated at the Budget Economic and Fiscal Update 2024 (BEFU 2024). This is because the monthly payments to the NZSF in this year are based on equal instalments of this annual amount. Since the last release with the Budget Economic and Fiscal Update 2024 (BEFU 2024) the model’s data inputs have been updated. Specifically, the model uses the latest five-year forecasts provided by the NZSF of the Fund’s earnings and tax payments and those of NZS expenses made by the Ministry of Social Development, as well as Treasury’s longer-term projections of nominal GDP and aggregate net (after-tax) NZS expenditure.

Suggested Citation

  • New Zealand Treasury, 2024. "New Zealand Superannuation (NZS) Fund Contribution Rate Model," Treasury Modelling and Data Tools NZSFCRM, New Zealand Treasury.
  • Handle: RePEc:nzt:nztmdt:nzsfcrm
    Note: The next edition will be the NZS Fund Contribution Rate Model - BEFU 2025 planned for May 2025.
    as

    Download full text from publisher

    File URL: https://www.treasury.govt.nz/publications/archive-new-zealand-superannuation-fund-nzsf-contribution-rate-models
    File Function: Context and archive for the NZSFCRM series
    Download Restriction: no

    File URL: https://www.treasury.govt.nz/publications/new-zealand-superannuation-fund-contribution-rate-model-hyefu-2024
    File Function: Context including guide for the HYEFU 2024 edition of the NZSFCRM
    Download Restriction: no

    File URL: https://www.treasury.govt.nz/sites/default/files/2024-12/nzsf-model-hyefu24.xlsx
    File Function: Spreadsheet model - NZSFCRM - HYEFU 2024 edition
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nzt:nztmdt:nzsfcrm. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CSS I&T Web & Publishing, The Treasury (email available below). General contact details of provider: https://edirc.repec.org/data/tregvnz.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.