New Zealand Legislation: Regulations

11 Process for fees assessment by Government Actuary

• The Government Actuary may follow the following process in making a fees assessment:

  • (a) compare the relevant fee or fees in relation to a scheme (A fees) to fees charged in relation to other schemes or classes of schemes (whether or not KiwiSaver schemes) that the Government Actuary considers comparable, having regard to the relevant matter in regulation 12(a); and

  • (b) determine on that basis that—

    • (i) the A fees are not unreasonable; or

    • (ii) the A fees may be unreasonable; and

  • (c) if the Government Actuary determines that the A fees may be unreasonable, further assess the A fees having regard to all the relevant matters in regulation 12; and

  • (d) determine on that basis whether or not the A fees are unreasonable.