The Government Superannuation Fund Act 1956 requires that every five years there must be conducted a review of how effectively and efficiently the Authority is performing its functions. The Minister of Finance sets the terms of reference for the review. The review is conducted by an independent person appointed by the Minister of Finance. The report on the review is presented to Parliament.
The third five yearly review was completed in June 2016 by PricewaterhouseCoopers Securities Limited (PwC) and tabled in Parliament in July 2016. The report can be viewed at https://treasury.govt.nz/sites/default/files/2015-12/gsfa-review-2016.pdf.
The Authority's response to the PwC review and its recommendations is in the attachment below.
The next statutory review is scheduled for 2021.