Government freezes contributions to pension fund for 10 years

In the present financial situation, the state would have to borrow to meet its annual $2.0bn obligation to the ‘Super Fund’

A 10 year freeze on government contributions to New Zealand’s pension ‘Super Fund’ (set up by the government five years ago to provide emergency financial support for future state funded pension payments) announced in Finance Minister Bill English’s first budget, is currently the subject of intense debate in the country.