17 Mar 2010

Superannuation Fund grows

2:46 pm on 17 March 2010

The New Zealand Superannuation Fund grew by 1.88% in Feburary, with a net gain of $296 million.

The fund was established by the last Labour-led government to help pay for the future cost of superannuation.

Data released on Wednesday shows the fund made a 17.24% return for the year to date, and now stands at $15.94 billion.

Feburary's positive result came after a poor January, during which the fund lost 1.97%.

The Government suspended further contributions to the fund in last year's Budget.