Category: Business

Source: Radio New Zealand

The fast-track referral of a sprawling gondola and housing proposal – despite council warnings about missing details and limited benefit – is being described by a Queenstown councillor as a real disappointment.

Bowen Peak Ltd is planning to build two gondolas and a cable car extending up to Bowen Peak, along with two predator-free sanctuaries, viewing stations, hiking and biking trails, an outdoor education centre, and more than 1300 housing units across 175 large chalets in Fernhill.

Infrastructure Minister Chris Bishop accepted the plan into the fast-track process last month after two failed applications from the company, owned by Australian surgeon Guy Hingston.

Queenstown Lakes district councillor Jon Mitchell said it was a plan that raised “more questions than solutions”.

“Having a rational approach, actually planning for development in the district, is far more important than rushing in with proposals like this,” he said.

Bowen Peak Ltd estimated the project could deliver $147 million in annual visitor spending and create 325 long-term jobs.

However, in comments on the referral application, the district council had warned the spending estimates could be overstated, because it implicitly assumed that most of the activity would be net new visitation to the district.

It said it could not confidently confirm the development would deliver significant regional or national benefits, and said the application lacked details, including a comprehensive assessment of natural hazards like landslides, rockfall, debris flows, seismic risk, and wildfire.

The site was likely prone to slope instability, and also outside existing service boundaries, requiring infrastructure upgrades which were not currently budgeted in its Long Term Plan, it said.

Te Rūnanga o Ngāi Tahu and Papatipu Rūnaka were against the project proceeding, while Otago Regional Council warned it could generate over 1,350 additional daily trips on constrained road corridors.

There were a lot of issues that needed deep thought, Mitchell said.

“It’s going to create more cost for our communities in future, more congestion on our roads without adequate central government funding to help mitigate those impacts,” he said.

The council already had residential housing planned on much safer and more accessible land than the Bowen Peak proposal, he said.

“The feedback that we are giving – both as the planning department at the council, providing their analysis and expert opinions on aspects of proposals… and there have been a few where councillors have put their views as well – most of that doesn’t seem to be being listened to,” he said.

Bowen Peak Ltd was proposing to remove 400 hectares of wilding pines and “restore the area’s pre-Pakeha ecological character” with species like kiwi, takahē and kākāpō.

It said there would be housing for at least 2,794 people, the equivalent of nearly ten percent of Queenstown’s projected population growth until 2053.

In its application the company said half of the housing would be for key workers, and five percent for the Queenstown Lakes Community Housing Trust.

Chief executive Julie Scott said the developers had approached the trust directly.

“Obviously we would be very happy with that….that reflects a recognition of our well-documented affordable housing challenges over the past however-many decades,” she said.

The worker housing would need clear eligibility criteria, and retention mechanisms to make sure homes did not end up in the free market, she said.

“It’s a pretty broad concept at this stage, but it’s certainly one we look forward to being fleshed out,” she said.

However, in its comments on the application, Queenstown Lakes District Council (QLDC) said by the time the chalets were complete in 2053, the district would likely have a housing surplus.

“Any benefit is considered to be moderate rather than transformational,” it said.

Consultation efforts questioned

In its comments on the application, Te Rūnanga o Ngāi Tahu told the minister the project should not enter the fast-track process, in part because of a lack of “meaningful consultation” with the developer.

“There have only been very preliminary levels of engagement to date and no meaningful consultation with either Papatipu Rūnaka or Te Rūnanga,” it said.

QLDC described the company’s engagement with its staff as “insufficient”.

Bowen Peak Ltd had sought consultation with Council around the Christmas, New Year and early January period, which could not be accommodated, it said.

“The applicant has subsequently chosen to lodge its referral application with no meaningful formal consultation with QLDC,” it said.

Fernhill and Sunshine Bay community group chair Simone Bray told RNZ the developer had not contacted residents.

The suburb already had one stalled development in its midst, so people wanted reassurance that Bowen Peak Ltd was doing its due diligence, she said.

“There’s been nothing… it’s not that hard to reach out to us,” she said.

“I think anyone who’s built a house on a marginal site before knows that so much money needs to go into the groundwork. And as an association, we’re really concerned that it’ll start off with all these grand plans, and then nothing will happen and it’ll just be this big, ugly scar.”

Bowen Peak Ltd did not respond to RNZ’s requests for comment.

On its website, the company stated that it encouraged community feedback via email.

It planned to lodge a full fast-track application later in the year, it said.

“We remain hopeful that our plans will help many, many people into the future,” it said.

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

NZ exporters may be in for a refund of up to $1 billion, following a US Supreme Court decision to reverse President Donald Trump’s Liberation Day tariffs on the basis they were unlawful.

The Supreme Court’s ruling was that tariffs imposed under the International Emergency Economic Powers Act (IEEPA) exceeded executive authority and must be reversed. Total refunds were expected to be in the order of between US$166-170b.

The refunds related to IEEPA tariffs paid between April 2025 and February 2026, with US Customs and Border Protection commencing the refund process from 20 April, 2026.

Exports eligible for refunds included agricultural and agri food exports, such as meat, dairy, fruit and wine, as well as manufactured goods, including machinery, medical devices and instruments.

Business consultancy EY New Zealand partner Paul Smith said new modelling indicated New Zealand exporters could collectively be eligible for up to $1b in tariff refunds, although smaller and medium sized (SMEs) exporters may find it more difficult to access the refund pool.

“The opportunity is significant, but while some of New Zealand’s largest exporters are likely to be well placed to claim them directly, EY’s market research suggests a portion of the potential refund pool could be harder for SMEs to recover,” Smith said.

“The refund process has now formally commenced, but it is not automatic.”

He said registered exporters with a US subsidiary acting as the importer may apply directly for refunds, but the situation was not straightforward for exporters who were not the importer of record.

“In practice, this means we do not expect every dollar of the estimated $1 billion to flow back to New Zealand businesses,” Smith said, estimating about 60-70 percent was likely to be recovered.

“Where exporters are not the importer of record, and do not have control or influence over the importer, some refunds may ultimately be retained offshore.”

He said other export-related matters were under review in the US, which posed risks and uncertainty for exporters.

“For exporters, the current New Zealand-United States tariff environment remains complex and uncertain,” Smith said.

“While refunds offer a near term opportunity, businesses should continue to plan on the basis that elevated tariffs, new investigations and ongoing compliance requirements are likely to remain part of the trading landscape.”

Although SMEs may find it difficult to obtain a refund, Smith said they should still make an effort to apply.

“It is clear that the Trump administration is looking to impose new tariffs on most of its trading nations and, unfortunately, New Zealand will get washed up in that,” he said.

“We’ve been advising our clients for a long time that tariffs will remain a permanent feature of the Trump administration and, although refunds are available in relation to IEEPA tariffs, it is likely that tariffs will apply going forward.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

Cut-price American butter on supermarket shelves is causing confusion among some shoppers because it’s packaged exactly like the Kiwi product.

The Burtfield’s & Co brand is sold at some Pak’nSave supermarkets around the country, where it undercuts New Zealand product on price.

Imported in bulk by Dairyworks, it’s packaged in 500 gram blocks and wrapped in familiar yellow paper at the company’s Canterbury site in the Christchurch suburb of Hornby.

Federated Farmers dairy chair Karl Dean said the American product should have clearer country of origin labelling, so consumers know exactly what they’re buying.

Some people have missed the small print on the back stating the butter is packed in New Zealand and imported from the United States.

“Obviously for the consumer it is a possible alternative,” Karl Dean said

“But I would say the comments that have been raised online, many people find the country of origin labelling a bit hard to find.”

Usually the international brands are typically easier to distinguish on the shelves, he said.

Some consumers have been surprised when they’ve opened a block at home, because it doesn’t resemble the sunny yellow colour they’re used to seeing.

“There is international butter that’s sold in New Zealand, but I think that’s in foil packaging, it’s in a smaller block, a more premium type product,” Karl Dean said.

“Where as here we have a product that looks very, very similar in terms of our paper packaging.”

Dairyworks head of marketing and innovation Maja Szarmach said the USA product has “certainly created some healthy debate.”

“It was always intended as a test for us,” she said.

“It’s actually going pretty well. We’re really pleased with how it’s been performing so far. It has been around for a month or two.”

The paler product, coming from grain fed cows is priced in the range of $6.49 to $6.99 for a 500 gram block.

Value focused local butter is starting at around $7.29 for home brand products in the same sized packet.

The Dairyworks spokesperson said the company took advantage of a period when American butter prices were low enough to offset freight costs for the 12,000 or so kilometre trip.

“If you think about NZ butter, it is a premium global product, most of the butter that is produced here is exported,” Szarmach said.

“So local prices are pretty much driven by global market rates not just what it might cost to produce the butter here.

“Think of it as a bit of an opportunity, or a window where the US butter price was at a bit of a low, so we could source that butter and bring it into New Zealand at a competitive price.”

Dairyworks is owned by Synlait. It also imports some cheese from abroad, but it won’t be rushing to bring more in at that at this stage.

“We’re pretty proud to obviously have a lot of great Kiwi cheese right at our doorstep and within our portfolio,” she said.

“There’s definitely potential for that, but at the moment we’re just focussing on this butter and seeing how that goes as a trial.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Source: Radio New Zealand

Most retailers fear they won’t meet their sales targets this quarter.

Retail NZ’s latest survey finds the ongoing fuel crisis has business owners feeling pessimistic, as consumers spend less at retail.

Chief executive Carolyn Young said the last survey found retailers optimistic for the new year.

“The start to the year was really strong, with some positive sales in January and February, and that gave us optimism about the year ahead,” she said.

“The crisis in the Middle East and the subsequent significant escalation of fuel crisis that has really impacted the whole of New Zealand has meant retailers are now very conservative, very concerned about the economy and consumer confidence.

“The start of the year, everybody thought we were maybe out of the woods, but this has really scuppered how we’re going to move forward.”

She said two-thirds of retail businesses predicted they would underperform this quarter.

“Sixty-six percent predicted that, in quarter two, they wouldn’t meet sales targets, as a result of the current situation that we’re in,” Young said. “They cited the economy as the most significant concern, with 92 percent of people responding saying that was their major concern.

“The items that fell in after that were really around foot traffic in the city, high street vitality and consumer demand – they’re the key things that will ensure retailers continue to stay open.”

Young said foot traffic remained essential.

“Eighty-five percent of sales in retail in New Zealand happen in stores, so we need people on the street, we need vitality in our shopping districts and we need consumers to be positive,” she said. “We know that consumer confidence has fallen and it’s not surprising.

“That has been one of the key factors that has turned the optimism from the start of the year into a very pessimistic outlook.”

Young said businesses were considering their options.

“Fifty-three percent of our respondents said, as a result of the fuel crisis, they were considering putting up their prices to cover increased costs they’re seeing from freight coming in and going out,” she said.

“We know from retailers that they have increased prices for recycling pick-up, rubbish pick-up, and all of those sorts of things have added onto the costs and squeezed margins.”

She said 49 percent of respondents said they were trying to absorb the costs where they could, while 18 percent were considering cutting staff hours to compensate.

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Source: Radio New Zealand

Homeware and furniture shops around Auckland and nearby regions appear to be losing some of their traffic to Swedish retail giant Ikea.

Data from Dot Loves Data shows that, as a category, home and furnishings is growing significantly.

Director Justin Lester said he could not comment on specific businesses but the total amount spent in the home and furnishing category in Auckland was $59.9 million in March, 5.82 percent up on the previous year.

People were travelling to Auckland to buy things in that category, he said. The total spend within Auckland by domestic visitors was up 72 percent in December compared to the year before. In March it was up 89 percent compared to March 2025.

In November 2025, before Ikea opened there was just over $7 million spent in Westgate on furniture and home furnishings. Just under $7m was spent in Mt Wellington. About $6m was spent in Glenfield, just under $5m in Newmarket, Just under $6m in Manukau and just over $6m in East Tamaki.

The next month, after Ikea’s opening on December, there was more than $20 million spent on total home and furnishings in Mt Wellington, and only just over $5m spent at most in other suburbs.

Lester said that trend had continued through the year. “It looks like Mount Wellington’s become a real hub within the Auckland precinct. It’s a real driver of the local economy there.”

Retail consultant Chris Wilkinson, from First Retail Group, said he would expect Ikea to have an anchoring effect, pulling shoppers in to the area.

But he said nearby retailers would benefit.

“You get inspired by what’s going on at Ikea… You might think, oh, I might like a little bit more style or I might like a little bit more whatever. So you go into Ikea but then perhaps you’re going to go to the Nick Scali afterwards, or you’re going to go to Freedom, or maybe availability is not there, so you’re going to look further.

“The anchor value of Ikea is incredibly significant.”

He said people would travel to Mt Wellington to shop. “When you are going to Ikea, you are very purposeful. This isn’t a place you just pop into and spend five minutes there. It’s not lie a normal strip business where you pop in, have a quick cast of your eye and go ‘yep it’s for me’ or ‘no it’s not’… people make a very determined decision and when they make determined decisions they’re purposeful and that typically results in a transaction.”

He said Ikea encouraged people to come back by having a range of things to pull them in, from meatballs and ice-cream to furniture, and ever-changing store displays.

“It really does keep people very sticky with the brand. And once you’ve got that habitual visitation, that’s starting to benefit everyone.”

He said people had been more focused on their homes and living environments since the pandemic.

“There’s been quite a shift in people’s mindset about the role of their houses because they’ve spent more time in them, more flexible working and all those aspects. It really has just changed the dynamic quite significantly. And of course, played into these nesting categories, as we would call them.”

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Source: Radio New Zealand

Prime Minister Christopher Luxon, and two of his most trusted and senior ministers landed in Singapore on Sunday night for a two-day sprint to strengthen a relationship New Zealand’s fuel security is so dependent on.

Two-way trade between the nations is significant at $11 billion annually and Singapore is the second-largest source of investment to New Zealand.

The two countries trade on widely different commodities, making the relationship all the more complementary.

Singapore is a fuel, pharmaceutical, construction and tech mecca, while New Zealand’s appeal to the affluent southeast Asian city-state is what we grow – food supply.

The close friendship between the two nations led to a new agreement in October – a comprehensive strategic partnership (CSP) – designed to deepen co-operation across six pillars.

In addition to the CSP, the two prime ministers shook hands on a first-of-its-kind agreement on essential supplies, ensuring trade would keep moving in times of crisis.

Little did the two leaders know how crucial that would become just four months later, when the United States and Israel launched their missile strike on Iran.

While prime ministers Christopher Luxon and Lawrence Wong will officially put ink to paper on the deal on Monday, the commitment to keep essential supplies moving has already been formally in action throughout the fuel crisis.

That’s provided New Zealand with confidence that fuel would continue to be available from Singapore and, likewise, food supplies would keep flowing back the other way.

Joining Luxon on the trip is Trade Minister Todd McClay, and his lead minister on finance, economic growth and the fuel crisis, Nicola Willis.

Before the trip, Luxon told RNZ the essential supplies treaty was already up and running, and for good reason.

“Who would have thought, in October, we’d desperately need it four months later,” he said. “I want to go see the refineries, I want to see the system myself and be reassured around the information we’re getting on a daily basis.”

In addition to the fuel check-up and the signing of the agreement, Luxon said the purpose of this visit was to take 29 senior business leaders and broaden the relationship, which he said was “necessary in a more volatile and certainly multipolar world”.

Luxon told RNZ both countries were “very bold”, and he expected there would be further work together on issues like upholding international rules and freedom of navigation – both critical to small trading-dependent nations.

The prime minister continues to speak almost daily with world leaders, as the Middle East situation and Strait of Hormuz blockades continue.

At the end of last week alone, Luxon spoke with his counterpart in Pakistan, which is leading negotiations between the US and Tehran, as well as the Sultan of Oman and the president of the United Arab Emirates.

Willis’ presence on this trip is even shorter than Luxon’s – she’ll be on the ground for just 24 hours, as she races home to resume work on her budget, due in just a few weeks.

Fuel security and economic growth opportunities are the motivation for her extracting herself from her office at such a busy time.

Before the trip, Willis told RNZ she was keen to drive more “export growth into Singapore, more business opportunities for our businesses, so they can create more jobs and higher incomes in New Zealand”.

The inaugural leadership forum taking place on Monday, which brings senior business and government leaders from both countries together, will be key for Willis to meet some of the “movers and shakers” in Singapore.

In addition, she’ll hold meetings with some of the world’s biggest fuel companies operating out of Singapore.

“Singapore is the largest refinery, blending, storage and trading hub for fuel in Southeast Asia,” she told RNZ. “That is where the leaders in fuel thinking reside, where their businesses are based, and it’s just an extraordinary opportunity to tap into their insights and intelligence.”

Willis said you couldn’t overestimate how important face-to-face meetings with the most powerful fuel players would be.

“In the future, I can just pick up the phone, which is different from having officials formally dispatched. It provides more insight and it’s a closer relationship.”

The trip will include a visit to Jurong Island – the home of Singapore’s refining and fuel importing structures.

Willis’ fuel mission on this short flyover is to “get another affirmation that Singapore will not be placing any export controls on fuel into New Zealand, that they will honour that agreement to ensure that we will not face restrictions of that sort”.

While everything they’d said to date confirmed that already, she said hearing it face-to-face added another layer and created a chance to ask how Singapore was thinking ahead.

“How are Singaporean-based fuel companies planning for a scenario of ongoing disruption of oil coming out of the Middle East, and what is their confidence or ability to adjust to a world in which less oil is coming out of the Middle East?”

Willis told RNZ the conversations she’d had to date indicated they were already thinking hard about that new world, and she hoped to seek some insight and reassurance on what that looked like.

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Source: Radio New Zealand

Indian crew members on board the ship Vega have raised concerns about when they can return home, as they wait for permission to sail to India, where it will be dismantled.

The former Interislander ferry Aratere has been at anchor in Tasman Bay since December. Some crew members have been on board since the ship was sold by KiwiRail to the current owner in October.

RNZ has received complaints from members, who say they have spent six months at sea and want to be repatriated, although their claims cannot be independently verified.

Maritime NZ said the crew’s contracts had not expired and members were not being held against their will.

“The ship’s operator is planning to repatriate the crew when their contracts expire mid-May or to renegotiate contracts with crew members who wish to do that.

“Seafarers wishing to leave the ship before their contracts expire can do so and it is usual in seafarers’ contracts they pay their own costs to do that. When the contracts expire, the operator pays for repatriation of the crew.”

KiwiRail retired Aratere last August and announced in October that it had been sold to Jahaj Solutions (FZE), which would deliver it to a shipbreaking yard in India.

Crew members told RNZ their requests to leave had been refused and they were being forced to remain onboard with no clear timeline to return home.

They said they had families and urgent responsibilities, and were under severe mental stress, because of the situation.

Associate Transport Minister James Meager said the regulator had confirmed the crew members’ contracts were valid.

“The safety and care of seafarers is always paramount,” he said. “Maritime New Zealand has confirmed to me that it spoke with every crew member on the Vega earlier this month and viewed every contract.

“All were found to be valid, with an expiry in mid-May for the majority. I’m advised the ship’s captain has confirmed plans are underway to repatriate or renegotiate contracts as required prior to expiry.

“Maritime New Zealand have re-iterated that, if anything is found to be out of order, it will use its regulatory powers to ensure that the ship’s agent and flag state, St Kitts and Nevis, take appropriate action.”

The Vega came into Port Nelson for several days in early April for fresh water and supplies, and to dispose of waste.

While it was in port, Maritime NZ inspectors boarded the ship and spoke to all crew members, who did not raise any welfare concerns.

Human Rights Commission senior adviser Oliver Christeller said it was concerned about the seafarers, because foreign workers on non-New Zealand flagged ships within the country’s borders might struggle to access adequate protections.

“If people working on the ship wish to return to their country, they should be allowed to do so,” he said. “International human rights standards recognise the right to freedom of movement, including to leave any country and to return to their home country.

“If any workers wish to return home, the owners and other responsible businesses should take active steps to facilitate this. These rights apply to everyone working on the boat and are especially important for workers who have completed their contracted period of work.

“Workers who remain on board should enjoy decent working and living conditions.”

The Vega is expected to return to port at some stage to refuel, before departing for India, although Maritime NZ said there was no confirmed date for the ship’s return to Port Nelson or when it might sail to the breaker’s yard in India.

Environmental Protection Authority hazardous substances and new organisms general manager Dr Fernando Torres-Velez said it had yet to receive an import consent for the Vega from the Indian authorities.

“We are unable to finalise the export application without such documentation,” he said.

Torres-Velez said the ship remained the responsibility of the company that purchased it with the intention of exporting it to India.

RNZ has contacted Jahaj Solutions and shipping agent Inchcape Shipping Services, but they have not responded to requests for comment.

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Source: Radio New Zealand

Workers at the Tiwai Point aluminium smelter have voted to take industrial action from Monday, following unsuccessful bargaining, but the smelter – owned by Rio Tinto, says it provides a competitive package.

E tū union members at New Zealand’s Aluminium Smelter in Southland, owned by Rio Tinto, have been in bargaining since 2024.

E tū Director Mat Danaher told RNZ the dispute was about the basic right of working people to organise.

“We believe this failure to agree is a deliberate anti-union tactic,” he said.

“They do not want to have a collective employment agreement in place. It feels like they would much prefer workers to continue to be individuals who they can push around and kind of decide what they want to do and basically deny the workers the right to a voice.”

Danaher said Rio Tinto had a track record of anti-union behaviour, with workers in Australia having also taken industrial action.

He added that industrial action was a last resort, but Rio Tinto needed to understand Tiwai Point aluminium smelter workers could not be taken for granted.

“This is a hugely profitable global company,” Danaher said.

“It reported underlying EBITDA (earnings before interest, taxes, depreciation, and amortisation) of $US25.4 billion ($NZ43bn) and profit after tax of $US10bn ($NZ17bn) for 2025, and announced ordinary dividends of $US6.5bn (NZ$11bn).

“The workers who keep Tiwai running deserve a fair share of that success.”

Delegate and production worker Dee said workers had not asked for anything excessive.

“We’re not being unreasonable. What we want is decent work. We want an agreement that recognises the job we do, the conditions we work under, and the contribution we make.”

In a statement, Rio Tinto said New Zealand’s Aluminium Smelter believed that the terms and conditions it offered were competitive.

A spokesperson said it positioned the organisation well, both in the Southland and wider New Zealand market.

“We will continue to engage with the union, and all our staff, in good faith and have confirmed we will recommence mediation on 20 May.”

The spokesperson said New Zealand’s Aluminium Smelter’s priorities were “safety and environmental stewardship, and stability of our operations and of our local communities”.

“In a tough economic environment for many businesses, we’re proud to continue to offer our team members and those looking to join our team market leading benefits and we will continue to do so as part of Tiwai continuing to be a great place to work.”

Around 185 E tū members are expected to take industrial action on 4, 6, 8, and 10 May.

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Source: Radio New Zealand

Got questions? RNZ has a podcast, ‘No Stupid Questions’, with Susan Edmunds.

We’d love to hear more of your questions about money and the economy. You can send through written questions, like these ones, but even better, you can drop us a voice memo to our email questions@rnz.co.nz.

You can also sign up to RNZ’s new money newsletter, ‘Money with Susan Edmunds’.

Why does the first person turning 65 in a couple only receive the reduced shared-superannuation amount? Why not the higher single-person amount, until the second person in that couple is 65?

You’re right that when the first person in a couple turns 65 and qualifies for NZ Super, they receive the sharing pension rate of $984.28 a fortnight before tax, not the rate for someone who lives alone, which is $1294.74.

That’s because the system is designed on the basis of shared living costs between a couple. The “shared” reference is in relation to a couple being able to split their household costs, not that they are sharing the pension itself.

“New Zealand’s social security system is built on the understanding that people in a relationship share costs and support each other financially,” the Ministry of Social Development confirms. “The different rates for couples are applied regardless of a partner’s eligibility for NZS.

“For example, if a New Zealander is over 65 and eligible for NZS, and they have a partner who is younger than 65, the person over 65 will receive NZ Super at the couple’s rather than ‘shared’ rate.”

I know there is debate from time to time about whether it is still appropriate to assume that couples share costs and are willing to support each other in the case of other types of government support.

Why does the Sorted KiwiSaver retirement calculator use the assumption that my income will have an annual increase of 3.5 percent? I find that to be a wildly out-of-date assumption.

If anything, my income has reduced, due to a decline in relative purchasing power. How can I find an honest, genuine forecast tool?

I asked Sorted about this. Personal finance lead Tom Hartmann told me that the assumptions used in calculators were what actuaries had advised were appropriate.

He said there had to be some assumption of income growth across a person’s career and that 3.5 percent figure was widely used.

He pointed out that, while it was probably unreasonable to think you were getting 3.5 percent wage growth consistently each year, people would go through periods where pay stagnated and then might shift to a new job, and their pay might jump up.

Over the past 10 years, the average annual growth rate was about 4 percent, although that included a period with a strong inflation spike.

It’s really hard to find a tool that will match an individual’s specific circumstances. I suppose your best option here is just to be aware of the assumptions and keep them in mind, when you’re looking at the calculations.

My wife has a KiwiSaver account with a modest balance. She is employed on a casual/oncall basis as a nurse at a medical practice.

She has not been called in since January, so no wages and no contribution to her saver account. She asked me if she should withdraw her KiwiSaver and put it in a term deposit.

She is 68 years old.

This really will come down to what you want or need the money for.

At 68, there are no restrictions on how and when she accesses her KiwiSaver money. If she’d like to have some available in a term deposit, she could withdraw the money to do so and keep her KiwiSaver account open to make contributions from her future work.

I’m not in a position to give personalised financial advice, but generally, people are told to align their investments to their investment profile. If you don’t need the money for a while, it’s usually worth keeping it invested with some exposure to growth assets.

KiwiSaver can be an easy way to do this, but if you do need the money now, it’s usually worth putting it in a low-risk investment, such as a bank deposit.

I’m a New Zealand citizen, have been a permanent resident in Australia for 50 years and worked in New Zealand for approximately four years. Where does that sit with qualifying for a pension from New Zealand?

You can use your time living in Australia to meet the New Zealand residency requirements for NZ Super.

While Australia’s pension is means-tested and people who move from New Zealand to Australia have to meet those requirements, that does not apply to Australians moving to New Zealand.

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Source: Radio New Zealand

A new fertiliser manufacturing facility aims to improve on-farm efficiencies and reduce environmental impacts through its use of new slow release technology.

Tnue’s new facility – the only of its kind in New Zealand – was officially opened by Agriculture Minister Todd McClay on Friday.

Using geothermal energy, Tnue (Total Nutrient Use Efficiency) produces a controlled-release nitrogen fertiliser that works to improve on-farm efficiencies, while reducing the environmental impacts.

Co-founder and managing director Bruce Smith said it worked by releasing the nitrogen progressively over about three months – rather than all at once like regular fertilisers.

He said this reduces the time and diesel spent spreading urea, while mitigating nitrogen losses from leaching

“The controlled release fertiliser is a membrane that we apply encapsulating the urea granule in particular. That controls the release of urea granule and requires mainly temperature for that activate and the urea releases out through the membrane over a given period – normally between 60 to 90 days depending on soil temperatures.

“Normally when you’re putting on urea its gonna last 20 to 30 day and they repeat the round of urea. This way they can every third round.”

Additionally, Smith said the constant, progressive release also meant the pasture will not run out of nitrogen as it prevents leaching occurring particularly after heavy rainfall – farmers can apply the controlled release product when ground conditions allow, rather than chasing narrow application windows.

“It does protect the nitrogen from leaching into waterways. It also means that because it’s controlled release it can mitigate to a large degree the greenhouse gas effect that can occur with rapid release product.”

Smith said it would help give New Zealand farmers greater certainty over price, supply and on-farm performance at a time when they faced heightened uncertainty due to global urea supply lines out of the Middle East being disrupted.

“Having the resource to apply controlled release technology to fertiliser right here gives New Zealand farmers greater certainty over price, supply and on-farm performance. It is a timely and important development for our farmers and food and fibre exports.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand