Fiscal Indicator Analysis - NZ Superannuation Fund
for the year ended 30 June 2008
| Forecast |
|
Actual | ||
|---|---|---|---|---|
|
Original Budget $m |
Estimated Actuals $m |
|
30 June 2008 $m |
30 June 2007 $m |
| 447 | 381 | Revenue | 385 | 436 |
| (349) | (259) | Less current tax expense | (237) | (707) |
| - | 63 | Less inter-entity expenses[1] | 63 | 171 |
| - | (114) | Less other expenses | (97) | (119) |
| 866 | (686) | Gains/(losses) | (995) | 1,313 |
| 964 | (615) | Operating balance | (881) | 1,094 |
| 12,910 | 12,973 | Opening net worth | 12,973 | 9,855 |
| 2,103 | 2,103 | Gross contribution from the Crown | 2,104 | 2,048 |
| 964 | (615) | Operating balance | (881) | 1,094 |
| - | - | Other movements in reserves | 16 | (24) |
| 15,977 | 14,461 | Closing net worth | 14,212 | 12,973 |
|
|
|
comprising: |
|
|
| 15,439 | 13,816 | Financial assets | 13,791 | 12,576 |
| 538 | 645 | Net other assets | 421 | 397 |
| 15,977 | 14,461 | Closing net worth | 14,212 | 12,973 |
Notes:
- [1]NZS Fund inter-entity expenses include deferred tax expense/(credits).
The NZS Fund is an important component of the Government's fiscal strategy. The Fund's assets provide the means for the Government to partially pre-fund future fiscal pressures, particularly those pressures arising from an ageing population.
The results of the NZS Fund, as they have been incorporated into the Crown financial statements, are shown above.
