Policy Area: Compulsory Savings/Superannuation

Statement of General Direction:

To introduce policies acceptable to the New Zealand public to increase New Zealand's national savings rate.

Key Initiatives of Policy:

(Note: full policy agreement is attached)

1. To begin immediate design work on a compulsory savings scheme, using the best independent advice.
2. To conduct a Referendum no later than the end of September 1997.
3. To introduce a compulsory savings scheme on 1 July 1998, if approved by the Referendum.

Fiscal Implications of this Policy Agreement:

Indeterminate at this stage.

Legislative Implications of this Policy Agreement:

Major, if Referendum approved.