Section 70 of the Social Security Act is used by MSD to deduct the value of some overseas “tier 2” pensions like Rea’s UK pension, built up through contributions made from people’s wages, to be deducted from their NZ Super payments, which its critics have long claimed is an abuse of the law. Rea complained to the Ombudsman after MSD’s Benefits Review Committee (BRC) refused to hear his challenge to the deductions because he had failed to take it within the three-month window after the deductions began in 2013.
The NZ Super deductions policy allows the Ministry of Social Development to deduct the value of tier 2 overseas pensions recieved by superannuitants from their NZ Super payments.
Robyn Edie/Stuff
Invercargill City Council tenant Christine Te Moananui at her Murphy street flat, after speaking to councillors at an infrastructure committee meeting at the council chambers on Tuesday.
Invercargill City councillors have been told they will put some of the city s most vulnerable into an even more challenging position if they push on with a rent increase. The council advised tenants of its 215 council-owned units before Christmas of the plan to raise rents by 35 percent. The units are used to house elderly people on limited incomes. Council staff told the tenants the increase was proposed to make improvements as per the recent Healthy Homes Standards and also provide for future upgrades.
Maori Direct Investment Fund Gets a Stake in Asia Pacific Health Group
Posted on 02/04/2021
Asia Pacific Health Group (APHG) is New Zealand’s largest human and veterinary pathology network operating as Labtests Auckland, Northland Pathology, Taranaki Pathology Services, Southern Community Laboratories, Wellington SCL, Canterbury SCL, Medlab South & Gribbles Veterinary Pathology. With 25 laboratories, over 2,000 staff and 150 collection centres throughout NZ, APHG performs over 6.7 million pathology patient episodes annually across New Zealand.
The Te Pūia Tāpapa Investment Fund is made up of 28 Iwi and Māori entities. Its investors represent diversity of scale and geography comprising Iwi and Māori entities located in Te Tau Ihu (Nelson-Marlborough), lower and central North Island, Taranaki, Waikato, Bay of Plenty, Hauraki, Northland, Auckland and Wharekauri (Chatham Islands). The Te Pūia Tāpapa investment approach reflects the Māori long term world view, with generation
NZ Super Fund Invests in Pioneer Capital Partners IV
Posted on 02/03/2021
The NZ Super Fund is committing NZD 100 million to a new investment fund managed by Auckland-based Pioneer Capital. The fund, Pioneer’s fourth, will invest in New Zealand companies that are seeking international growth in high margin sectors.
Domestically, the NZ Super Fund has been investing in this sector since 2005, with previous investments generally delivering strong net returns above its passive Reference Portfolio benchmark.
According to the press release, “The NZ Super Fund will be a cornerstone investor in Pioneer Capital Partners IV. The total fund size is expected to be in line with that of the NZD 260 million Pioneer Capital Partners III fund, and invested across 6 to 8 individual companies.
Super fund invests $100m with Pioneer Capital
3 Feb, 2021 04:23 AM
2 minutes to read
Apple grower Rockit Global has benefited from investment from Pioneer Capital. Photo / Warren Buckland
Fast-growing Kiwi businesses with plans to expand internationally are set to benefit from another investment allocation from the New Zealand Superannuation Fund.
The $53 billion fund, which was set up to help cover the future cost of paying for New Zealand Superannuation, has allocated up to $100 million to investment manager Pioneer Capital.
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Pioneer, an Auckland based firm, will use the money to invest in New Zealand businesses seeking international growth in high-margin sectors.