New Zealand will pass an economic milestone in 2028, with the Government making it's first ever Super Fund withdrawal.

The Finance Minister revealed yesterday they'll begin offset superannuation costs by withdrawing $32 million from the New Zealand Super Fund.

From 2031, withdrawals are expected annually. 

Superannuation expert Jonathan Eriksen told Ryan Bridge it's exactly what the Superfund was set up to do.

He says it's up to $80 billion currently and is generating returns of 10% per annum, with 1% of that being $80 million.

LISTEN ABOVE

New Zealand will pass an economic milestone in 2028, with the Government making it's first ever Super Fund withdrawal.
The Finance Minister revealed yesterday they'll begin offset superannuation costs by withdrawing $32 million from the New Zealand Super Fund.
From 2031, withdrawals are expected annually.&nbsp;
Superannuation expert Jonathan Eriksen told Ryan Bridge it's exactly what the Superfund was set up to do.
He says it's up to $80 billion currently and is generating returns of 10% per annum, with 1% of that being $80 million.
LISTEN ABOVE

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

Early Edition with Ryan Bridge

Jonathan Eriksen: Superannuation expert on the Government making it's first ever Super Fund withdrawal

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/07dabef5-a305-463e-bb7b-b2dc012ea6c1/transcript