Multimedia Investments Ltd
Source: New Zealand Police (District News)
Emergency services are at the scene of a serious single-vehicle crash on the Southwestern Motorway, northbound, between the Onehunga Harbour Rd on-ramp and the Queenstown Rd off-ramp.
Traffic management is in place.
Motorists should avoid the area or expect delays.
ENDS
Issued by Police Media Centre
Source: New Zealand Government
The Government is amending the Equal Pay Act [the Act] to make the process of raising and resolving pay equity claims more robust, workable and sustainable, Workplace Relations and Safety Minister Brooke van Velden announced today.
Pay equity is achieved when women and men are paid the same for work that is different but of equal value: for example, care and support workers and mental health assistants perform work that is different but is of equal value.
“It is clear the current Act is not working as intended, and amendments made by the previous government in 2020 have created issues. Claims have been able to progress without strong evidence of undervaluation and there have been very broad claims where it is difficult to tell whether differences in pay are due to sex-based discrimination or other factors.
“The Government is committed to addressing these issues. The new and improved pay equity system will provide greater confidence that genuine pay equity issues will be correctly identified and addressed.
“New Zealand’s pay equity regime is an outlier internationally. The Act allows employees and unions to bargain a pay equity settlement with multiple employers. In most countries we compare ourselves to, people raise pay equity claims against their own employer only, or there are legal requirements on employers to proactively take steps to achieve pay equity,” says Ms van Velden.
Pay equity claims have been concentrated in the public sector, with a recent increase in the number of claims in the publicly funded sector. Costs to the Crown have become significant, with the costs of all settlements to date totalling $1.78 billion per year.
“These changes will mean the pay equity claim process is workable and sustainable. There are often significant costs involved with pay equity settlements which can involve large workforces [e.g. around 94,000 people for the teachers claim] and we need to ensure the process to raise and resolve claims is robust.
“The changes I am proposing will significantly reduce costs to the Crown,” says Ms van Velden.
There will be a better framework and guidance for parties to use to assess whether there is sex-based undervaluation. These changes include:
Raising the threshold of “predominantly performed by female employees” from 60 percent to 70 percent and requiring that this has been the case for at least 10 consecutive years.
Ensuring there are reasonable grounds to believe the work is historically and currently undervalued, including a requirement for evidence.
Further clarity and guidance on the use of comparators – work performed by men that is different to the claimant’s work but has similar skills, responsibilities, levels of experience, or working conditions to the claimant’s work.
Employers being able to meet their pay equity obligations in a way that is sustainable for their business – for example through phasing of settlements.
The changes will discontinue current pay equity claims, but new claims can be raised under the amended Act if they meet the new requirements. Review clauses in existing settlements will become unenforceable. Settled claims can be re-raised 10 years after settlement, if the claim meets the new requirements.
The changes are reflected in a Bill introduced today and going through Parliament under urgency, which will amend the Equal Pay Act and take effect the day after Royal assent.
Source: New Zealand Super Fund
Average annual returns of 10.03 percent after costs over the past 20 years make the New Zealand Superannuation Fund the world’s best-performing sovereign wealth fund, according to international sovereign wealth fund experts GlobalSWF.
GlobalSWF’s annual rankings compare the performance of 13 sovereign wealth funds and 37 pension funds from 18 countries across five continents. The NZ Super Fund’s returns for the 20 years to 30 June 2024 were well ahead of the average returns for both sovereign wealth funds (6.4 percent) and pension funds (6.8 percent).
The NZ Super Fund was also the top performing sovereign wealth fund during the past decade, with an average annualised return of 10.33 percent after costs.
NZ Super Fund CEO Jo Townsend said that over the past 20 years the Fund had significantly outperformed long-term performance expectations.
“In part, that reflects how well global equities, which presently make up about 60 percent of the Fund’s assets, have performed during that time. In addition, our active investment strategies have also outperformed both our Reference Portfolio benchmark and our long-term performance expectations,” Ms Townsend said.
Ms Townsend said the Guardians’ active investment strategies were designed to capitalise on its competitive advantages as an institutional investor, particularly its long investment horizon, operational independence, and clear and effective governance structure.
Ms Townsend said maintaining long-term, growth-oriented investment strategies through multiple market ups and downs had been central to the success of the NZ Super Fund.
The NZ Super Fund has $8 billion invested in New Zealand, including investments in forestry, agriculture and horticulture, and numerous listed and unlisted entities.
In the past year, the Fund had expanded its rural land portfolio, increased its investment in locally managed funds that provide growth capital to New Zealand businesses, and continued its involvement in various land development initiatives that will provide platforms for housing and social infrastructure.
Source: Consumer NZ
Strong returns and fewer issues helped lift sentiment, even with some investors disengaged, although that may be about to change.
“Consumer NZ’s People’s Choice award recognises products and services whose customers are highly satisfied,” says Consumer chief executive Jon Duffy.
Results from the nationally representative annual KiwiSaver satisfaction survey highlight the strengths and weaknesses of different retirement savings scheme providers.
“KiwiSaver customer satisfaction has improved noticeably in 2025. The sector’s overall satisfaction rating climbed to 57%, up from 52% in 2024,” says Duffy.
However, the coming years will test both the trust in and communication from providers, with Trump’s tariffs serving as one example of the immediate pressures contributing to ongoing global economic uncertainty.
Returns still rule, but interest in ethical investment is growing
Performance remains the strongest driver of satisfaction in the KiwiSaver space. Good returns are behind low switching rates, but concerns persist in areas such as fee fairness, accessibility and transparency.
“Ethical investment continues to attract high interest. Many New Zealanders say they care about whether their funds are invested in undesirable sectors, but few know the details of where their money goes.
“Many rely on trust in their provider. Around 40–50% believe providers are making genuine efforts to invest ethically, while a similar proportion remains unsure,” says Duffy.
Top KiwiSaver providers of 2025
Customer satisfaction leaders this year were small outfits again, more agile providers, recognised for offering strong investment returns, communication, fair fees and ethical investment options.
Generate – 80%
Milford Funds – 75%
Simplicity – 69%
People’s Choice standouts
Generate earned the People’s Choice award this year, for ease of access and the features of its digital platform.
Milford Funds extended its winning streak to eight years, thanks to strong communication and customer confidence in investment returns.
Simplicity featured for the sixth year in a row, widely praised for fee fairness and ethical focus.
Bottom of the pack – 2025’s lowest-rated providers
Larger providers continue to lag, especially in terms of measures like communication, fee satisfaction and keeping customers informed. The biggest gripe tends to be fees.
ANZ – The largest provider continues to see a decline in satisfaction year on year, with consistently poor performance on transparency and fees.
Smart – Struggles with engagement and customer support.
Mercer – Lowest-ranked overall, with concerns about service quality and value for money continuing to dominate feedback.
The Treasury staff published an analytical note in September 2024, highlighting that as New Zealand’s population ages, life expectancy increases, and fertility rates decline, there is mounting pressure to ensure retirement savings can support individuals throughout their extended retirement years. This highlights the growing importance of KiwiSaver for the financial wellbeing of New Zealanders, both now and in the future.
For these reasons, it is important that consumers engage with their investments, rather than staying passively in default schemes, to improve their returns and build greater financial security for their retirement.
About Consumer
Consumer NZ is an independent, non-profit organisation dedicated to championing and empowering consumers in Aotearoa. Consumer NZ has a reputation for being fair, impartial and providing comprehensive consumer information and advice.
Source: ASB
ASB is on a hiring drive to recruit 80 additional home ownership specialists as it prepares for a surge in home loan applications. 80 percent of New Zealand homeowners are expected to refix their home loan within the next year, according to the Reserve Bank of New Zealand. While most of the 80 full time specialists have now been recruited, there are still some roles being advertised. The specialists will work across the bank’s in-house home ownership team and mortgage adviser-led business.
With many Kiwi having locked in short-term rates when interest rates were higher, Adam Boyd, Executive General Manager of Personal Banking says ASB is already seeing a change in customer behaviour, with people starting to fix for longer terms. “As a result of falling rates, we expect 55 percent of our home loan customers will have locked in rates under 6 percent by December this year, compared to 40 percent in March 2025.”
ASB is also simplifying its refinance process so that Kiwi coming to the end of their fixed rate term at another bank can receive a decision on moving to an ASB loan quicker and more easily. For its mortgage adviser-led business, ASB has introduced a system to improve the quality of applications being submitted so they can be processed more quickly.
ASB was named Canstar’s 2025 Bank of the Year – Home Loans Award winner. The award recognised that ASB delivers mortgage products that combine ‘the best features with the lowest costs, plus provides great customer service at every stage of the mortgage journey’. ASB also won Canstar’s Outstanding Value Awards in four categories – Home Lender, Investment Home Lender, Fixed Home Lender, and Investment Fixed Home Lender.
“We are seeing elevated demand for our home loans. By growing our teams and enhancing our refinance process, we’ll be able to turn around applications faster, both for our customers and the mortgage advisers we work with, while continuing to deliver great service,” says Boyd.
“We continue to offer competitive pricing, having dropped fixed rate mortgages six times this year. Our one-year fixed term rate is currently joint market leading, at 4.99 percent.”
Source: Reserve Bank of New Zealand
The 2024 General Insurance Stress Test (GIIST) bulletin published today noted insurers’ resilience in managing claims from an extreme seismic event. It also highlighted the need for a coordinated response across the industry and government to manage such shocks and ensure ongoing insurance availability.
Source: New Zealand Labour Party
Erica Stanford has been misusing her personal email address to manage sensitive information relating to Budget and visa changes prior to their public release.
“Documents show the Education Minister has sent sensitive government information to an unprotected email address,” Labour’s education spokesperson Willow-Jean Prime said.
“We’re talking about serious government decisions that affect peoples’ lives and have millions of taxpayer dollars attached to them. Ministers have a responsibility to keep this information safe.
“Going off the grid with sensitive information is hanging a welcome sign to threats to our national security.
“In 2023 the Cabinet Manual was updated, and now specifically states ‘As far as possible, Ministers should not use their personal email account or phone number to conduct ministerial business.’ This goes far beyond that.
“We have rules for a reason and Erica Stanford isn’t above them. She needs to be upfront about what she is using her personal email for and how much sensitive information has been shared,” Willow-Jean Prime said.
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Source: Tertiary Education Commission
Last updated 4 February 2021
Last updated 4 February 2021
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A privacy notice is an outward-facing document, a TEO usually publishes on a website, to show the public how you manage personal information.
A privacy notice is an outward-facing document, a TEO usually publishes on a website, to show the public how you manage personal information.
It is especially necessary for people who will use your services, ie, students, to understand what you do with their information.
Privacy notices contain similar information to consent forms. The difference is that a privacy notice relates to your whole organisation and can be referred back to students. A consent form is specific to one use of the information.
A student may sign several consent forms during their study, but you only need one privacy notice.
Source: Tertiary Education Commission
Consortium eligibility
For the full eligibility requirements, see the MPTT funding conditions for the relevant year.
To be eligible to receive MPTT consortium activities funding you must be the lead member of a consortium. An MPTT consortium consists, ideally, of at least one tertiary education organisation (TEO) funded for work-based learning, one TEO funded for provider-based learning (these may be the same TEO), employer representation, and at least one Māori and/or Pasifika entity.
Consortium activities
We allocate consortium activities funding based on intended learner numbers, and the capacity and performance of the consortium. Other factors, such as the stage of development of the consortium and the potential for economies of scale are also taken into account.
Consortium activities that we may agree to fund include:
governance and project management
coordinating the contributions of consortium members and other services to the development of learner capabilities
employability skills training (MPTT employability activities) and licensing (eg, driver licensing) that complement DQ-funded programmes or Micro-credentials
learner support (activities, equipment or other support that contribute to learner success in addition to the support ordinarily offered by the tertiary provider).
Fees top-ups & brokerage services eligibility
For the full eligibility requirements, see the MPTT funding conditions for the relevant year.
Fees top-ups and brokerage services funding contribute to achievement of the successful outcomes sought from MPTT.
We may fund:
a consortium partner organisation for fees top-ups and brokerage services on a consortium’s behalf
multiple consortium partner organisations for fees top-ups and/or brokerage services, and/or
a consortium partner organisation for fees top-ups and brokerage services, allowing the consortium to subcontract with its own members, or other TEOs, for delivery of services such as brokerage.
Fees top-ups
MPTT funding for fees top-ups ensures consortium partner tertiary education organisations (TEOs) can make their Delivery at Levels 3-7 (non-degree) on the NZQCF and all industry training (DQ3-7) funded programmes of pre-trades training fees-free for MPTT learners.
TEOs that receive funding for fees top-ups must have an effective assessment process for determining literacy and numeracy needs of learners.
Additional guidance is available about:
the importance of literacy and numeracy skills development in learners
our literacy and numeracy expectations of TEOs
literacy and numeracy best practice for TEOs
resources and research findings, and
the Literacy and Numeracy for Adults Assessment Tool.
Literacy and Numeracy for Adults Assessment Tool guidelines
Brokerage services and activities
Brokerage services funding supports connections between employers, consortia and partner/other TEOs in order to support MPTT learner progression.
We expect these activities to supplement existing brokerage and facilitation activities carried out by a consortium. A brokerage services funded TEO may pass on its funding to another organisation to carry out the services.
The brokerage services specified in the TEO’s funding confirmation documentation must be the brokerage services provided. These services may include:
providing recruitment support, identifying pre-employment needs of learners, and their employment, training and career pathways
tailoring pre-employment trades education provision to the needs and aspirations of MPTT learners, communities and potential employers
matching MPTT learner talents and aspirations with employer skill requirements and career pathways
facilitating relationships between MPTT learners, TEOs , potential employers and key industry stakeholders, and
providing employment transition support for learners.
Career guidance
We expect consortium partner organisations to, collectively and individually, support each learner to recognise and develop the skills and competencies they need to manage their career in a trade.
See Consortia, and Project Kamehameha and Project Lumana’i (research commissioned by Careers New Zealand about design and delivery of career resources for Māori and Pasifika respectively).
Learner eligibility
For the full learner eligibility requirements, see the MPTT funding conditions for the relevant year.