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• 8. Statistics

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8.1 Introduction

A statistical analysis has been carried out in respect of superannuation schemes which were in force on their balance dates in 2005. A corresponding analysis has been made for schemes which were in force on their balance dates in 1990. This provides an approximate comparison between the situation immediately prior to the commencement of the current regime for superannuation schemes (1990 data) with the latest complete information available to me (2005 data).

The Government Superannuation Fund has been excluded from all these analyses.

8.2 Comparison between 1990 and 2005

Detailed information is shown in Appendices 3 to 7. In particular, Appendix 4 shows that the majority of superannuation schemes are still relatively small, although the proportion with assets of $5 million or more has increased to 39.3% of the total from 36.8% in the 2004 year.

8.3 Continuing Decline in Number of Schemes

The number of superannuation schemes declined from 625 in 2004 to 590 in 2005, a reduction of 35 compared to 50 in the previous year. The corresponding reduction in the number of employer sponsored schemes was from 463 in 2004 to 431 in 2005, a reduction of 32 compared to 42 in the previous year.

In part, the reduction in private sector employer sponsored schemes is likely to be the result of stand alone schemes moving into multi-employer arrangements, so as to save on administration and compliance costs

8.4 Changes in Number of Members of Occupational Schemes

For the years 1990 to 2003 the table below shows (in thousands):

• The number, in 000's, of active members in private sector employer occupational schemes, from Appendix 5.1 of Government Actuary reports;
• The number, in 000's, of active members in the Government Superannuation Fund taken from its annual reports, plus the number, in 000's, of active members in Public Service schemes similarly from Appendix 5.1;
• The number, in 000's, of active Labour Force participants, as given in Statistics New Zealand Labour Force Employed figures for March each year;
• The ratio of membership of private employer, Government employer and total employer schemes as a percentage of the employed workforce.

**Revised figure from March 2005 Key Statistics publication

As a result of the change to the State Sector Act 1988 and the increased level of state sector participation in master trust products the split between private sector and public sector participation in employer sponsored superannuation schemes can no longer be determined from the statistics contained in annual reports lodged under the Act.

From the 2004 year the table below shows (in thousands):

• The number, in 000's, of active members in all employer occupational schemes, from Appendix 5.1 of Government Actuary report plus the number, in 000's, of active members in the Government Superannuation Fund taken from its annual report;
• The number, in 000's, of active Labour Force participants, as given in Statistics New Zealand Labour Force Employed figures for the March year;
• The ratio of membership of total employer schemes as a percentage of the employed workforce.

8.5 Superannuation Savings

The assets of retail superannuation schemes totalled $6,711 million at year 2005 balance dates and $6,658 million at year 2004 balance dates, an increase of $53 million. An increase of $209 million was noted in the previous year.