Superannuation Working Party

Posted 29 Feb '04 under National

This Working Party has had its initial meeting and the Joint Statement copied below outlines the future work and direction of the Working Party.

Information Sheet No. 1
February 2004

 

Superannuation Working Party

Representatives of the New Zealand Professional Firefighters Union and Fire Service management met on Friday 13 February 2004, to commence consideration of matters related to Superannuation and to Total Remuneration Packages (TRPs).

The Working Party has agreed three principles upon which its work will be based, namely that:

  • The prime consideration should be the method by which any particular strategy ensures that Fire Service personnel make adequate provision for retirement.
  • Any strategy should lead to consistency and equity of treatment; and 
  • Eligibility for membership of the Superannuation Scheme should be aligned with the government’s policy on retirement savings in the public sector.

The Working Party has agreed that their initial focus should be to acquaint themselves fully with the government’s policy on retirement savings and to take external advice to ensure that any recommendations made are consistent with industry best practice.

Arrangements are being made for the Working Party to meet:

  • Officials from the State Services Commission
  • Retirement Savings Commissioner
  • Various independent Superannuation and Investment Advisers.

It is anticipated that these interviews will be concluded by the end of March 2004.

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