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Retirement Commission > Legislation

Legislation

A variety of legislation has been created to manage the delivery and entitlements of retirement income. Some key legislation includes:

• NZ Superannuation and Retirement Income Act 2001
  The NZ Superannuation and Retirement Income Act 2001 is the legislation that determines retirement income policies in New Zealand.
  
• Superannuation Schemes Act 1989
  This is an Act created to provide for the registration of superannuation schemes, and to provide a procedure to enable both benefits payable from superannuation schemes and annuities to be reduced as a result of changes in taxation.
  
• Investment Advisors (Disclosure) Act 1996
  Outlines what information Investment Advisers need to disclose to the public.
  
• Securities Act 1978
  Is the act that establishes the Securities Commission and consolidates amendments to the law relating to the offering of securities to the public, and to extend the application thereof.
  
• New Zealand Superannuation Act 2001
  The key purpose of this act is to continue the entitlements to NZ Superannuation and establish the NZ Superannuation Fund to help manage ongoing provision of NZ Superannuation entitlements and funding.

The Retirement Commission has gained new functions in 2003 under the Retirement Villages Act 2003.

• Retirement Villages Act 2003
  The purpose of this Act is to protect the interests of residents and intending residents of retirement villages and to enable the development of retirement villages under a readily understandable legal framework.

For full copies of the Acts outlined here visit www.legislation.govt.nz.