Insurance & Superannuation
The Ministry has policy responsiblity for both insurance and superannuation legislation. These pieces of insurance legsilation are as follow:
- Insurance Companies' Deposits Act 1953
- Insurance Companies (Ratings and Inspections) Act 1994
- Life Insurance Act 1908
- Marine Insurance Act 1908
The pieces of superannuation legislation are as follow:
- Superannuation Schemes Act 1989
KiwiSaver
KiwiSaver is part of a package of government initiatives designed to increase the level of savings by New Zealand households and support New Zealanders in retirement. MED will coordinate the selection of KiwiSaver Default Providers and has issed an RFP.
Government Superannuation Fund
On 2 October 2001 the Government Superannuation Fund (GSF) left the Ministry to become a standalone agency. Their website is at www.gsf.govt.nz. GSF documents that were on this site can now be found there.
Law Commission Review of Life Insurance Regulation
Summary page introducing documents related to the Law commission's Review of Life Insurance Regulation.
Insurance Ratings and Deposits Review
Insurance ratings and deposits Review. Amendments to the Insurance Companies’ Deposits Act 1953 and the Insurance Companies (Ratings and Deposits) Act 1994 were postponed, pending the Law Commission's review of life insurance (completed 2004).
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