The New Zealand Superannuation Fund (NZSF) is one of New Zealand's largest publicly-owned financial assets. Its primary purpose is to act as an inter-generational tax smoothing vehicle, in order to assist future taxpayers cover the cost of providing the public pension, New Zealand Superannuation...

From 1977, New Zealand has had one of the simplest public pension systems in the world, a basic, universal pension – concentrating on the prevention of poverty in old age, with some success. The present set-up implies that without means tests, recipients can continue working, receiving a...