Central super. registry

Press, Volume CXV, Issue 33814, 10 April 1975, Page 16

Central super. registry

Zealand Press Association) WELLINGTON. The New Zealand Superannuation Corporation will run a centra] registry to record transfer values of contributions retained by approved alternative superannuation schemes when contributors are no longer eligible to lake part in those schemes through having changed jobs.

In a statement, the Minister of Finance (Mr Tizard).

said discussions had been held with representatives of the Life Offices’' Association, the Government Actuary, and th" Super-j annuation Corporation, andi it was agreed that the cor-i poration should run the I ;registry. The necessary regulations,! being gazetted, would re-1 quire the trustees of private schemes, which retained thej contributions of people who! , had since left the particular! i scheme, to record the names I .of those persons with thei ■ registry. This w'ould only in-1 ! volve notification of reten-j i tion of a transfer value, suf-! ! ficient to enable individual 1 identification. i A charge to the private I scheme of 53.50 would be ■ required to cover each entry; with the registry. The Minister said the : main advantage of having ai I single point, of reference was! i that it would enable both! ; those retiring in the future I and administrators of es-i fates, to find out quickly thej ! whereabouts of super-! ‘annuation money due.