New Zealand Superannuation Fund Contribution Rate Model
Page updated 18 Dec 2012
Treasury model used to calculate the government's capital contribution to the New Zealand Superannuation (NZS) Fund.
This model in MS Excel workbook format calculates the contribution rate for pre-funding New Zealand Superannuation (NZS). The model was updated at the time of the release of the Half Year Economic and Fiscal Update 2012 (HYEFU).
Since the last release with the Budget Economic and Fiscal Update 2012 (BEFU) the model's data inputs have been updated. Specifically, the model uses the latest five-year forecasts of the Fund's earnings and tax payments and longer-term projections of nominal GDP and total net (after-tax) NZS expenditure.
This version of the model includes no capital contributions between the years 2010/11 and 2017/18. Government policy is to review the length of this non-contribution period as economic and fiscal conditions change. Any changes will be reflected at each update of the NZS Fund projections.
The NZS Fund model requires a projected aggregate net (of tax) NZS track as an input.
While the capital contributions/(withdrawals) calculation methodology does not require the Treasury to state total gross NZS expenditure projections, tracks of these are also included at the bottom of the model's Input worksheet. These tracks are provided both in nominal dollar terms and as a percentage of nominal GDP. A graph of gross NZS expense to nominal GDP is also included with the model.
The projected gross NZS tracks display a potential path, beyond the latest forecast horizon, of the aggregate NZS expenditure actual outturns and forecasts shown in the Transfer payments and subsidies note to the Forecast Financial Statements of HYEFU 2012.
These total NZS expense outturns and forecasts are in gross of tax terms, which is how all expenses in the Financial Statements of the Government of New Zealand are recorded.
Using MS Excel Files Using PDF Files
| Doc. Date | Title | Download |
|---|---|---|
| 18 Dec 2012 | New Zealand Superannuation Fund Contribution Rate Model - HYEFU 2012 Update | nzsf-model-v25.xls (308 KB) |
| 18 Dec 2012 | Half Year Economic and Fiscal Update (HYEFU) 2012 New Zealand Superannuation (NZS) Fund Track - With or Without Holiday Provides tracks of the capital contributions and the size of the NZS Fund, for both the now nine-year contribution holiday and a scenario where the automatic contributions were continued, over a 40-year horizon. |
nzsf-track-v9.xls (46 KB) |
| 22 May 2009 | New Zealand Superannuation (NZS) Fund Contribution Rate Model Modelling Guide Explains the line-by-line modelling used, and some of the mathematics behind the calculations in the model. There is also information on where other, related material on the NZS Fund can be sourced from the Treasury website. |
nzsf-model-guide-may09.pdf (45 KB) |
