I calculated that if the contributions to the super fund were instead used to cut the company tax rate, it would be somewhere in the neighbourhood of 18 to 20% over the periods in which the $13 billion in contributions were made to the NZ Super Fund.
There has been a great deal of coverage in the last few days of the New Zealand Superannuation Fund, all prompted by the news that the chief executive, Adrian Orr, had been given a substantial pay increase by the Fund’s Board, over the objections of the State Services Commission and the then Minister of Finance.
I don’t have a strong view as to how much the chief executive should be paid. In general, I also don’t have a particular problem with that amount being determined by the Board, without ministerial involvement. Then again, this is simply a body managing a large pool of (borrowed) government money, and I couldn’t see a particular problem if the relevant Act was to be amended to make the terms and conditions of the chief executive a matter determined by the Minister of Finance, or the State Services Commission, perhaps taking advice from the Board. After all…
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Utopia, you are standing in it! 
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