National must restart contributions to the Super Fund when it gets the books back into surplus as the government books would be $2.2 billion better off if contributions had not been stopped, says Labour’s Finance spokesperson David Parker.
“New figures show that the Super Fund – one of the great successes of the last Labour Government – continues to go from strength to strength.
“But it could have been much better. The Guardians of the New Zealand Super Fund say that as of 30 June 2013 the NZ Super Fund was $10.8 billion smaller than it would have been if contributions had continued, with $2.2 billion of foregone investment gains.
“The fund returned $4.51 billion in the past twelve months at a rate of over 21 per cent. That is half a billion more than the National Government raised from its failed asset sales programme.