Fees payable to the Government Actuary (Financial Markets Authority from 01.05.2011)

Section 30 of the Superannuation Schemes Act 1989 allows the Governor-General, by Order in Council, to make regulations specifying the fees payable to the Government Actuary (Financial Markets Authority from 01.05.2011) for the exercise of his or her functions under the KiwiSaver Act.

The fee payable to the Government Actuary (Financial Markets Authority from 01.05.2011) for applications to approve transfers under section 9BAA of the Superannuation Schemes Act 1989 (which is a new procedure inserted by the KiwiSaver Act 2006) is set at $100 for each half-hour spent by the Government Actuary (Financial Markets Authority from 01.05.2011) considering the application.

The regulations came into force on 1 December 2006.

Superannuation Schemes (Fees) Amendment Regulations 2006 (2006/359)