The Commission for Financial Literacy and Retirement Income wants tax-free status for the New Zealand Superannuation Fund.
The call is in the Commission's final report on retirement policy and an addition to a draft published in October.
The Superannuation Fund was set up by the previous Government.
The current Government halted contributions because of the Global Financial Crisis, but pledges resumption after returning to surplus.
Retirement commissioner Diane Maxwell issued the call in the final version of October's draft on retirement policy.
Ms Maxwell says until the Government resumes making contributions into the fund, it should be tax free, as happens with similar schemes overseas and with two similar bodies in this country, the Earthquake Commission and ACC.
So far, the Superannuation Fund has paid $3.3 billion in tax.
Other aspects of the draft remain in the final report, such as proposing a slow rise in the age of eligibility for the pension.