| The New Zealand Superannuation Fund (NZS) was conceived by Michael Cullen, Labour Finance Minister from 1999 to 2008, and created by an act of Parliament in October 2001. Its mission is "to maximise the fund's return over the long term, without undue risk, so as to reduce New Zealanders' future tax burden".
The establishment of the fund recognised New Zealand's ageing population as a significant and multigenerational social and financial challenge...............................................Full Article: Source
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