NZ Super and Retirement Amendment Bill

Age Concern New Zealand would like to comment on the proposed Amendment to the New Zealand Superannuation and Retirement Income Act 2001. The proposed Amendment would allow the New Zealand Superannuation Fund to take a controlling interest in an entity
and aims to broaden the group of investment partners and opportunities, particularly in New Zealand.
We understand this change may increase the potential for larger investment returns which
will then more effectively contribute to funding the New Zealand Superannuation scheme.
We do not have a strong view on whether or not the Superannuation Fund should be able to
take a controlling interest, however, we strongly advocate that all steps are taken to grow and protect the Fund.